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The United Kingdom’s largest bookmaker, William Hill, has been granted an injunction against one of online gambling’s largest software providers, Playtech.
William Hill’s action prevented Playtech from amending a joint venture agreement between the two firms while preventing the software company from merging with rival Ladbrokes.
Playtech was down 9p to 395p and Ladbrokes was down 1.3p to 138.5p on Wednesday’s news. The two companies are believed to be in talks over a £2.2bn merger.
A statement issued by William Hill read: “Playtech recently initiated discussions with William Hill seeking possible significant amendments to the current William Hill Online joint venture agreements. There has also been press speculation regarding discussions between Playtech and Ladbrokes plc”
Playtech in a brief statement said that its interests in the joint venture "remain unaffected" by its partners' court action.
- Aaron Goldstein, Gambling911.com
