Playtech Call Option Exercise Completed, Says Will Hill

This week, Playtech Monday that William Hill plc is completing the exercise of its call option to acquire Playtech's 29 percent stake in William Hill Online for GBP 423.75 million.

The option will deliver a cash-on-cash return of more than 3.5 times which excludes software royalties, and it has been specified that the amount will be subject to a post-completion working capital adjustment and Playtech will also receive its share of profit in William Hill Online accrued since 1 January 2013.

Furthermore, in its statement Playtech specified that its software agreements with William Hill Online will continue after the call option is finalized.

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