Playtech Limited
("Playtech" or the "Company")
Statement re William Hill Online
Playtech (LSE: PTEC), the international designer, developer, licensor and provider of software and services for the online, mobile, TV and land-based gaming industry, announces that William Hill plc ("William Hill") is today completing the exercise of its call option to acquire the Company's 29% stake in William Hill Online for £423.75 million, delivering a cash-on-cash return of more than 3.5 times, (excluding software royalties). This amount will be subject to a post-completion working capital adjustment. Playtech will also receive its share of profit in William Hill Online that has accrued since 1 January 2013, and this amount will be announced in due course.
William Hill Online was formed in December 2008 when Playtech injected assets that had been purchased for US$250 million (then €177.7 million) into William Hill's existing interactive operations. This transformational transaction created an innovative and exciting betting and gaming business, which has grown strongly since inception. William Hill Online is now one of the world's leading online gambling operators, consistently returning double-digit annual growth.
Playtech's software agreements with William Hill Online will continue following the completion of the call option.
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For further information contact:
Playtech Ltd Mor Weizer, Chief Executive Officer Ron Hoffman, Chief Financial Officer c/o Pelham Bell Pottinger Adam Kay, Head of Investor Relations |
+44 (0)20 7861 3232 +44 (0)1624 645954 |
Pelham Bell Pottinger David Rydell / Olly Scott / Guy Scarborough |
+44 (0)20 7861 3232 |
About Playtech
Playtech develops unified software platforms and content for the online and land-based gaming industry, together with providing a range of ancillary services such as marketing, hosting and CRM services.
The Group's capabilities enable the delivery of an integrated software or turnkey solution, with players accessing online, broadcast, mobile and server-based gaming terminals through a single account.
New licensees include existing online operators upgrading or diversifying their offering, land-based casino groups, government sponsored entities such as lotteries, and new entrants making their online gaming debut, particularly in newly-regulated markets.
Founded in 1999, Playtech is listed on the London Stock Exchange and has over 2,600 employees located in nine countries. Its leading gaming applications include casino, poker, bingo, sports betting, live, mobile and social gaming, casual and fixed odds games.
www.playtech.com
