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October 21, 2008
William Hill plc yesterday announced the formation of a new online gambling and sportsbetting operation, William Hill Online, in which online bingo software supplier Playtech will be a major shareholder at 29% ownership interest.
News of the new partnership deal sent William Hill shares shooting up with a massive 20% increase on Monday after hitting a 52 week low just before the weekend.
William Hill says that the 9% increase in gross win for the past 15 week period is due to strong growth performance in its interactive operations, including online bingo, and also its retail channels. The company's online poker operation is suffering from weak player liquidity, but the move to the Playtech network should give a tremendous boost.
The new operation will become one of the largest affiliate networks in the world, and will include systems such as Virtue Fusion (powering popular online bingo websites such as Bet365 Bingo and Mecca Bingo) and also Playtech Bingo.
Written by Charlene Grey for BingoStreet.com – bringing you the latest and greatest online bingo promotions and top free bingo games.
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