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William Hill online gambling reports increased profits

By mr-gambling on 2013-02-22 09:09:52

The general gambling news this week we read about how dangerous gambling can be but not as you might expect due to any form of addiction but simply for being near to a bookmakers shop. Apparently in the gambling news are reports of an unfortunate accident which ended in a gentleman being killed by a sign falling from the front of a William Hill bookmakers shop in North London; it is not clear whether the man was entering or leaving the premises or merely an innocent passer-by but he died in hospital from severe head injuries. It would seem that online gambling is safer after all but of course our sympathy goes out to his family. Also in the general gambling news William Hill Online, which is the online gambling arm of William Hill partly owned by Playtech, reported a third successive year of strong revenue growth with profits expected to be up some 36% compared to last year which does not suggest that the recession is having any effect whatsoever on the online gambling business. This report is made even more interesting as Mr Ralph Topping, the William Hill Chief Executive, is making no secret of the fact that he wishes to buy out the 29% of WHO currently owned by Playtech but by declaring increased profits that stake becomes even more valuable meaning that William Hill may have to pay more than originally thought to acquire the stake. According to the gambling news the valuation will be decided by three banks, one of which is appointed by Playtech, one by William Hill and one jointly agreed upon. According to the gambling news there are only limited opportunities to purchase the stake and if it doesn’t happen now the next chance will be in two years time at which time, judging by the current growth in the online gambling business, it will be worth even more.