Not to be confused
with the recent ousting of Cryptologic's former CEO
Javaid Aziz, Playtech's longtime CEO, Avigur Zmora, has
stepped down from his post now that Playtech's
transaction with Will Hill plc has come to a completion.
Aziz will remain as a consultant to the company and its
Board of Directors, who have expressed sincere gratitude
for Aziz's hard work over the years.
You may recall that just last month, Playtech and Will
Hill entered upon an agreement that involved asset
acquisitions, affiliate marketing, customer service
operations and branding. Giving Playtech a 29% interest
in the newly vamped William Hill Online, which is now a
mega-gambling suite offering sports betting, poker,
online casino games, live casino games, bingo,
lotteries, specialty games and more, Playtech is
contracted for a minimum of five years to provide the
poker and online casino software used in Will Hill's
consolidated internet operations.
Will Hill's Orbis software platform, which is used to
power their large-scale sports betting operations, will
not be affected by the change. Will Hill will remain in
control of all operations, including the newly acquired
affiliate network, and stands to enjoy a broadened reach
into the European online gaming market - helping the
betting empire beyond its characteristic stronghold on
the UK gambling scene.
Playtech stands to gain an ownership increase up to 32%,
contingent upon certain conditions, while Will Hill will
keep an option to acquire Playtech's interest after four
and six years. Playtech has informed investors that
further information is on its way as part of the
company's normal pre-close trading statement due on
January 22, 2009.
For more information on Playtech Software and their
network of online casino licensees, please see our