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PLAYTECH REACTS TO WILL HILL STATEMENT ON W.H.O.
Friday October 19, 2012 : PLAYTECH REACTS TO WILL HILL STATEMENT ON W.H.O.
"In the event that the option is exercised Playtech is committed to the smooth handover of the 29 percent stake in WHO."
Mor Weizer, the chief executive of Playtech plc, issued a statement Friday responding to William Hill plc's announcement that it was to commence a valuation exercise pursuant to its possible buy-out of the 29 percent Playtech share in William Hill Online
"Playtech continues to engage in constructive discussions with William Hill regarding the future of the joint venture, one of the most successful ever in online gaming," Weizer notes.
"WHO is a key driver of William Hill's overall success and, as a major supplier to WHO and the wider business, Playtech is dedicated to maintaining its close working relationship with William Hill to support its continued growth.
"In the event that the option is exercised Playtech is committed to the smooth handover of the 29 percent stake in order to ensure a seamless transition and support WHO's growth going forward.
"WHO has been a phenomenally successful and transformational partnership for William Hill and Playtech, consistently achieving double-digit growth year on year. Current trading is very encouraging and regardless of William Hill's as yet undetermined final decision on the call option, we look forward to working with WHO and maintaining our very positive relationship. Playtech ......believes that there is significant continued growth potential for WHO."
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