William Hill PLC

Regulatory Filings • Apr 15, 2013

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RNS Number : 3526C

William Hill PLC

15 April 2013

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

Completion of acquisition of the outstanding 29 per cent. of William Hill Online

15 April 2013

William Hill PLC (LSE: WMH) (William Hill or the Group), the UK's largest bookmaker, announces that it will, today, complete the acquisition from Playtech of the outstanding 29 per cent. of William Hill Online for a total cash consideration of £424m on a debt-free and cash-free basis.  In accordance with the Framework Agreement, a cash adjustment will be made to reflect unpaid dividends and a working capital adjustment in William Hill Online shortly following completion.

As outlined in its recent prospectus, the Board considers that William Hill Online is a strong, well-established industry leader and that acquiring full control at this time is consistent with the long-term strategic evolution of the Group.

Ralph Topping, Chief Executive of William Hill, commented:

"William Hill Online has consistently delivered strong net revenue growth since it was formed in December 2008.  We are pleased to be assuming full ownership of this attractive, high growth, high performing business."

Exceptional costs of c£3m are expected to be incurred in 2013 in relation to this transaction relating to advisory and valuation fees.

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Enquiries
William Hill PLC	Ralph Topping, Chief Executive Neil Cooper, Group Finance Director Lyndsay Wright, Director of IR	Tel: +44 (0) 20 8918 3614
Brunswick	Simon Sporborg Sophie Brand Oliver Hughes	Tel: +44 (0) 20 7404 5959

Notes to editors

William Hill, The Home of Betting, is one of the world's leading betting and gaming companies, employing more than 17,000 people. Founded in 1934, it is now the UK's largest bookmaker with around 2,400 licensed betting offices that provide betting opportunities on a wide range of sporting and non-sporting events, gaming on machines and numbers-based products including lotteries. William Hill Online (www.williamhill.com) is one of Europe's leading online betting and gaming businesses, providing customers with the opportunity to access William Hill's products online, through their mobile, by telephone and by text services. William Hill US was established in June 2012 and provides land-based and mobile sports betting services in Nevada, and is the exclusive risk manager for the State of Delaware's sports lottery. The Group acquired the Sportingbet Australia business in March 2013, which is one of the leading online corporate bookmakers in Australia, offerings sports betting products online, by telephone and via mobile devices. William Hill PLC is listed on the London Stock Exchange and generates revenues of over £1.2bn a year.

This information is provided by RNS

The company news service from the London Stock Exchange

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