19th of October 2012 Author: Johnny Karp
In a reaction to William Hill plc's statement that it intends to start a valuation exercise with its possible buy-out of the 29 percent Playtech plc's share in William Hill Online in mind, the Playtech CEO Mor Weizer issued a note of his own, saying:
"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.
"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."
In related news, WHO has introduced a number of management changes in its lines, including the following:
Henry Birch is leaving the position of Chief Executive Officer, while Andrew Lee is the new Managing Director responsible for leading William Hill Online with immediate effect.
The new role of Director of Customer Experience and Innovation will be occupied by Jamie Hart, who will be responsible for the development of Sportsbook and Gaming platforms, and for innovation.
Lee's previous position of Head of Mobile will be filled by Jürgen Reutter, an experienced professional in the domain of mobile gaming.
According to the group CEO Ralph Topping, "Having successfully grown the operational scale and product offering since 2008, the focus for William Hill Online is now intensifying around the customer, including personalisation, customer insight and customer services. This is a significant priority given the high proportion of UK betting and gaming customers who already have a William Hill account."
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