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Online Casino News - January, 2009

Playtech CEO Steps Down for Will Hill Online

 

 

  Seed Newsvine

by Edward Rogers, News Staff Writer

January 3, 2009

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 Playtech Review.



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