New Casino Announced

The news of a split is rarely good news for any party involved ... except for in this case. A deal is being made for Will Hill to join the Playtech online casino. This is all taking place because the software developer, Will Hill split ways with the famous online casino, Cryptologic. Will Hill is one of the more popular software developers for the United Kingdom and online casinos everywhere. The coming together of these two companies, Will Hill and Playtech, will birth a new online casino called William Hill Online.
William Hill Online will be an online casino with the usual video slots, sportsbook, and a poker room. Part of the deal between the two companies, Will Hill will maintain the website itself and Playtech's role will be mostly in providing its knowledge about online casinos. Providing that knowledge will get them a minority share in the company, which comes out to be about a 29% stake in the company's profits. Joining companies does not come cheap, but this deal in particular is working out quite well for both parties involved. The new brand will approximately cost £24 million to fully integrate itself into the world of the online casino.
The man that will be heading up the integration and branding ow William Hill Online will be Henry Birch. Henry Birch is is the former CEO of Leisure and Gaming . His experience as a chief executive in such an important company will surely be nothing but an asset to the new online casino, William Hill Online. There are several secrets that are up these companies sleeves, like the vast knowledge that they have about the European market of online casinos. The aim of this company is to be the number one online casino in Europe.
The contract between Playtech and Will Hill is that it will be a five year relationship. The contractual agreement has an option for Playtech to earn a higher stake in the company's profit if they meet all of the conditions in which they agreed to. Their original stake in the online casino is 29% but eventually that number could rise to a more attractive 32%. There is also another line in the contract that sticks out in our opinion. Will Hill has the option to buy out Playtech's stock after four years of the five year contract have passed.