William Hill takes out injunction on Playtech

22nd Feb 2011 17:23

Bookie William Hill has taken out an injunction against AIM-quoted online gaming technology supplier Playtech, its joint venture partner in William Hill Online. Playtech has been trying to amend the joint venture and there has been speculation that it is in talks with Ladbrokes. There are rumours that Ladbrokes is interested in buying Playtech, which also supplies software to the Tote and Betfred. At 349p a share, Playtech is valued at £846.68m. William Hill Online was set up in October 2008 and Playtech has a 29% stake with William 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. William Hill Online grew its year-on-year net revenues by 24% in 2010. William Hill is reporting its 2010 figures on Friday 25 February.