Playtech and Will Hill Join Forces

Playtech recently announced that they will be supplying games to the online casino giant, William Hill. The company made this announcement in their in a recent press release titled “Strategic Highlights”. The poker games featured at the Playtech online casinos will make their debut on the Will Hill Casino stage starting in January of 2009. This contract that they have in place contractually bounds the two companies to have an exclusive relationship for one full calendar year and a regular licensing agreement for a minimum of five years. The deal that they recently made has plenty of benefits for both companies which means that there will definitely be monetary benefits for both parties involved.

The online casino operator, Playtech, will attain some of the marketing assests, contracts from affiliates, and businesses that William Hill’s online casinos already have in their black book. This is no small list, the grand total of third party and direct marketing assets affiliated with Will Hill total up to US $250 million. To be exact the online casino company, Playtech, will attain a total of 29 percent of the total William Hill assets. The company of William Hill Online is set to increase up to 32 percent in revenue because of this recent merger. This will solidify the place of both companies in the crazy financial weather that is looming over the global economy.

Playtech will also held the third European Championship of Online Poker on November 24, 2008. The online casino has a very impressive grand prize of US $4 million. The prize offered for the winners of the online casino poker tournament seems like an extremely large amount, but compared to the company’s reported net cash position as of the end of October 2008 they have a reported cool Euro 204 million. Playtech’s business is sure to continue to grow. The company’s CEO, Mor Weizer, had great things to say about his company: "Notable during the period was the groundbreaking sale of certain assets and businesses to William Hill as well as signing this major company as a new licensee. Playtech is excited to be working with a company with the scale and breadth of William Hill in what we believe will be very significant deal for Playtech. The transaction is the first in a number of other potentially significant earnings enhancing affiliate acquisition opportunities. The Group continues to pursue significant business opportunities across all the regulated markets and the Board is confident regarding the Group's trading performance for the rest of 2008 and beyond."