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William Hill and Playtech Dispute
December 22,2012 : WILLIAM HILL DISPUTES PLAYTECH BID TO SHARE IN SPORTINGBET DEAL
"Playtech have no rights to a business that is not part of William Hill Online..."
Playtech's claim that William Hill's acquisition of Sportingbet should benefit the two companies' joint interest in William Hill Online has been quickly rejected by a Will Hill spokesman.
On Thursday Playtech's CEO Mor Weizer claimed in a company statement that in terms of the WHO joint venture agreement William Hill would be "...bound to conduct its remote gambling business through the William Hill Online business, in which Playtech is a 29 percent shareholder."
He said that if the WH/GVC Offer is completed, William Hill will be obliged to offer to sell the remote gambling activities of Sportingbet to William Hill Online within six months of completion of the acquisition…and Playtech has the right, in its absolute discretion, to determine whether William Hill Online accepts such an acquisition.
"Playtech believes that it is likely that the acquisition of the Sportingbet activities would add considerable value to William Hill Online," the statement continued, in what has been interpreted as an attempt to push up the purchase price of Playtech's 29 percent interest in WHO, an initiative that William Hill is currently pursuing with an evaluation exercise .
William Hill's outlay in acquiring Sportingbet is some GBP 454 million, and the company is less than enthusiastic about Weizer's claim to some of the action. On Friday a William Hill spokesman said bluntly:
"Playtech have no rights to a business that is not part of William Hill Online and therefore this has absolutely no effect on any valuation".
The signs all point to some interesting exchanges ahead between Playtech and William Hill on the participation and future ownership of WHO
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
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