William Hill considers exercising call option

British online and land-based gaming operator William Hill is considering taking full control of its William Hill Online joint venture after calling for a formal valuation of the enterprise from gambling software designer and supplier Playtech Limited.

London-based William Hill established the William Hill Online joint venture in partnership with Playtech in 2008 with its partner holding a callable 29 percent stake in the business.

In confirming that it had received a formal notification regarding the valuation process, Playtech described William Hill Online as a ‘key driver of William Hill's overall success’ and stated that it is ‘dedicated to maintaining its close working relationship with William Hill to support its continued growth’ as a ‘major supplier’ to the joint venture and its ‘wider business’.

“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 William Hill Online’s growth going forward,” read a statement from Isle of Man-based Playtech.

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