William Hill gets Playtech injunction extended

18th Mar 2011 07:03

Bookmaker William Hill has been granted an extension to the injunction preventing Playtech from selling its stake in William Hill Online. The company said in February it had secured an interim injunction against Playtech to ensure that its legal rights under the William Hill Online joint venture agreements were maintained.In court yesterday, it was agreed the injunction will stay in place until a further court hearing which is expected to occur in May or shortly thereafter.Playtech had wanted "possible significant amendments" to the current William Hill Online joint venture deal, and there was press speculation it was in talks with Hill's rival Ladbrokes. Rumours have done the rounds that Ladbrokes is interested in buying £780m Playtech, which also supplies software to the Tote and Betfred. William Hill Online was set up in October 2008 and Playtech has a 29% stake with Hill owning the rest. In 2010, Playtech's share of the venture's profit was 37% higher at €30.8m (£26.3m), although the fourth quarter contribution was lower. That was partly down to a withdrawal from the French market.