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William Hill in acquisition talks with Probability
Sunday September 18,2011 : MOBILE GAMBLING COMPANY IN WILL HILL'S SIGHTS?
Fast growing mobile sector creates a market for Probability plc
Gambling on the move, exploding in popularity through continually improving mobile technologies and hardware, has created an acquisition opportunity for the online and land gambling giant William Hill plc, which is reportedly in preliminary acquisition talks with London-listed mobile gambling technology firm Probability.
Over the weekend, business media in the UK quoted unidentified sources as opining that Will Hill may have to pay a premium for the firm, which at current share prices is worth around GBP12.90 million.
Despite this, Probability's negotiators will have to tread carefully, as there are reports that Hill is also interested in other companies in the mobile gambling sector.
Probability was founded back in 2003 by entrepreneurs Charles Cohen and John Scaife, and has made steady progress in a market that has been burgeoning of late. Canny City investor Michael Spencer has almost 18 percent of the shares in the company, which provides mobile gambling technology platforms and operates the well-established Lady Luck mobile gambling brand, offering bingo and casino games.
Approached for comment, a William Hill spokesman did not outright deny the report, saying instead: "We are always looking at many opportunities, particularly in the online and mobile space. However, we never comment on individual situations."
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