The dispute relating to Playtech's interests in William Hill Online has been resolved amicably.
As a result, the two parties are now applying for the injunction secured by William Hill against Playtech group companies to be discharged and the related court hearing scheduled for this week to be vacated. With this in mind, the exit provisions of the existing shareholders agreement have been confirmed to the parties’ satisfaction.
In addition, the two companies have agreed to certain changes to the agreement, which grant greater flexibility to their respective operations. These include increased flexibility for William Hill Online to provide betting services to William Hill’s retail business and the cancellation of the sole restriction regarding Playtech’s ability to license its software, a restriction that was related to a UK land-based gambling operator. The existing restrictions on UK marketing services provision remain in place, running through to the first call option date.
