It appears the WHO that happen to be William Hill and Playtech and their joint venture is coming to an end as William Hill is calling it quits and the British bookmaker is seriously considering buying out Playtech’s stake in the online joint venture between the two companies.
Thus William Hill has until next month to activate its option to amicably split with the software giant Playtech as they own 29% of William Hill online. Each of the parties will appoint a bank to come up with a valuation and if the valuations are widely different then a 3rd party mediator will come in and join the negotiations to help the two sides in closing a deal.
The estimates of the joint venture, WHO which have a value ranger of from £300 million to £493 million and that indicates the deal is not ending due to lack of profits. The WHO reported a similar 29% rise in operating profits in April of 2012 and that included a 370% increase in mobile wagering that were bets placed by their players.
For William Hill and online gambling in general they had a very busy summer with the 2012 London Olympics and then followed by the European football championships.
The joint venture had created a lot of jobs both for William Hill as well as Playtech. The William Hill online is powered by Playtech which is one of the internet’s leading online casino game software developers.
Playtech also has deals with Marvel and most big movie studios which means that movies like the Mummy, Rocky, Iron Man and many more are featured in their popular online games. Also, Playtech’s live dealer casino games are considered among the best in the industry as the players are immersed into a large room with all of the bells and whistles of a land-based casino and meanwhile Playtech releases new slots games on a monthly basis.
Considering all the state above, the final negotiations of this split of the so called WHO should prove to be very interesting to the online gambling industry.
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