Statement re William Hill Online announcement

RNS Number : 0738P

Playtech Limited

19 October 2012

 



Playtech Limited

("Playtech" or the "Company")

William Hill Online ("WHO") announcement

Playtech, (LSE: PTEC) the international designer, developer and licensor of software and services for the online, mobile and land-based gaming industry, notes today's announcement by William Hill plc ("William Hill") stating that it will begin the valuation process for WHO as part of its right to exercise its call option over Playtech's 29 per cent stake in the business.

Playtech continues to engage in constructive discussions with William Hill regarding the future of the joint venture, one of the most successful ever in online gaming.

WHO is a key driver of William Hill's overall success and, as a major supplier to WHO and the wider business, Playtech is dedicated to maintaining its close working relationship with William Hill to support its continued growth, as is the case with all of the Company's licensees.

In the event that the option is exercised Playtech is committed to the smooth handover of the 29% stake in order to ensure a seamless transition and support WHO's growth going forward.

Mor Weizer, Chief Executive Officer of Playtech, said:

"WHO has been a phenomenally successful and transformational partnership for William Hill and Playtech, consistently achieving double-digit growth year on year. Current trading is very encouraging and regardless of William Hill's as yet undetermined final decision on the call option, we look forward to working with WHO and maintaining our very positive relationship. Playtech actively supports all of its licensees and believes that there is significant continued growth potential for WHO."

 -Ends-

Further information

Playtech Ltd Mor Weizer, Chief Executive Officer David Mathewson, Chief Financial Officer Ron Hoffman, VP of Finance c/o Pelham Bell Pottinger	[phone]
Pelham Bell Pottinger David Rydell / Olly Scott / Guy Scarborough	[phone]

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 plc and has some 2,000 employees located in development centres in five countries.  Its leading gaming applications include casino, poker, bingo, sports betting, live, mobile and social gaming, casual and fixed odds games.

www.playtech.com 

 

END

 

 

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