WilliamHill buyout of Playtech's share of their online business
William Hill is taking control over their online business and buying out Playtech from their remaining deal.
Some affiliates might be happy to hear about William Hill buying out Playtech for £424m.
This of course represents a lot of money for Playtech as the 2 companies haven't had the best relationship working together but it appeared to be profitable none the less.
WilliamHill's online reputation took a beating when their head of marketing left the job in October 2011 with support staff not available.
Surely this cost WilliamHill a bit of loyalty with their players as many of them were left high and dry from customer support being unavailable.
The fallout from the marketing and support walk off has left WilliamHill trying to cleanup this PR disaster and show their online players and marketing partners that business was running as usual.
It is unknown if the affiliate program for WHO brands will still remain with Affiliates United. Many affiliates have complained on forums about lack of payments, lack of communication and problematic reporting.
What he said:
Mor Weizer, CEO of Playtech:
"William Hill Online has been an overwhelming success and has delivered a cash return to Playtech greater than 3.5 times its original investment, excluding software royalties in the four years since inception."
Ralph Topping, CEO of WilliamHill:
"Having been advised of the valuation of Playtech's 29% interest, the Board has concluded that it is in the best interests of our shareholders to exercise our call option to assume full ownership of this attractive, high growth, high performing business."
WilliamHill is taking over the situation
With this buyout, WilliamHill starts making the necessary moves that will make the brand recover some of the money it had lost when its Marketing officer and its workers decided to leave the gambling frim abruptly.
The issue cost WilliamHill incredible losses such as a high decrement of active players as well as affiliates, resulting in a great loss of funds in a short period of time.
Such an important issue required drastic solutions, and it seems that WilliamHill is starting to execute its plan to recover from this heavy blow.
This buyout leaves all the WilliamHill without the chance to provide the players with any of the Playtech titles that were previously available to all of them.
Despite the fact that it may disappoint all the registered players who are fans of Playtech, it was a mandatory move since WilliamHill has had serious altercations with the game maker in the past few years.
Such misunderstandings between the two companies made it impossible for both of them to work together properly, so it was needed for any of them to back out of the contract as soon as possible.
WilliamHill was the one to make the final decision, and it is now free of its legal obligation with playtech.
WilliamHill losing more players due to the buyout
It is not a secret for anyone on the iGaming industry that Playtech is one of the most reputable and famous software developers available nowadays.
The game maker has developed and launched a high number of casino games with a special focus on slot games, which are the most popular titles among the iGaming players.
Needless to say, the buyout of Playtech surely made a lot of players registered on WilliamHill made, and it is very likely that they end up migrating to a different betting platform in the near future where they can enjoy each one of the games that Playtech has developed for them over the years.
WilliamHill is aware of Playtech’s popularity and relevance on the industry, but it was too much of a burden to stay engaged with the game maker for a longer period of time.
Now, WilliamHill will be focusing its energy on making deals with other top-notch game makers that are up for negotiations so that the players can enjoy many titles on a daily basis without having to think of the absence of Playtech a single second.
WilliamHill is set to make additional moves
WilliamHill is yet to be finished with its plans to recover from the great losses it has suffered in the past few years. Therefore, some new moves and strategies are expected to happen in the upcoming months and days.
It is impossible to predict what kind of decisions will be made inside WilliamHill, but it can be assumed that they could ultimately change the course of the whole firm in a blink of an eye.
As an affiliate or player registered on WilliamHill¸ it is vital to stay up to date with the latest news at all times so that you can know all the details and facts before anyone else.