William Hill Completes Playtech Call Option Exercise

WILLIAM HILL COMPLETES PLAYTECH CALL OPTION EXERCISE

15th April, 2013 at 06:51:10
Source: http://www.azonlinecasinos.com

Joint venture nears its end

Playtech announced Monday that William Hill plc is completing the exercise of its call option to acquire Playtech's 29% stake in William Hill Online for 423.75 million, delivering a cash-on-cash return of more than 3.5 times which excludes software royalties.

The amount will be subject to a post-completion working capital adjustment and Playtech will also receive its share of profit in William Hill Online accrued since 1 January 2013.

Playtech's software agreements with William Hill Online will continue following the completion of the call option, the company said in a statement. For more information on the product, see the list of Playtech casinos or refer to the casino directory.

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