William Hill, the online betting operator, casino, poker and online bingo provider, has reported the company has had a strong third quarter. William Hill has also stated that they have seen “little evidence” that the slow economy has affected their business.

The Company says that the total gross win (the amount earned for losing bets) rose 9% in just fifteen weeks which lead to a 5% gain for 2008 to now. Favorable sports results helped the Company raise their over-the-counter business by 7%.

Since business has been so good, William Hill has signed a deal with software provider,
Playtech that will create William Hill Online. The online website will provide all channels of online gaming and is expected to generate net revenues close to GBP 190 million.

With this deal, William Hill will also acquire many of Playtech affiliates. William Hill Online plans to be the largest and most popular online gaming brand in Europe. Playtech will own 29% of the shares while William Hill will hold on to what is left, 71%.

William Hill boss Ralph Topping said in a statement this week:"This transaction is a transformational step for William Hill consistent with our stated strategy to increase online gaming and international earnings. William Hill Online will be the leading European online gaming and sports betting business and the clear online leader amongst UK land based gaming and betting operators.”



- 2008-10-20