Sat, Jun

Potential Acquisition of Probability by William Hill


William HillThere have been numerous reports circulating that William Hill, the leading UK bookmaker, is interested in acquiring the London listed mobile gambling technology group, Probability in a deal that could be worth approximately £13 million.

Gambling groups in the UK have been taking a great interest in the news of a potential acquisition of Probability by William Hill.

First to report on the potential deal was The Telegraph who stated that it is not clear what the bookmaker is prepared to pay for Probability but that they could pay a significant premium for the business.  Shares in Probability reportedly closed at 49p on Friday night, valuing the business at £12.88 million.  There has, however, not been anything official declared with regards to the acquisition.

William Hill did not deny the reports in the newspapers but stated that they are always looking at opportunities in the online and mobile space.  This is probably the reason why Probability is not keen to get anyone’s hopes up regarding a potential multi-million pound deal.

There are several top brands being operated by Probability who provide mobile technology platforms and games for mobile platforms to other groups in the gambling industry.

Several land based sports betting companies in the US were purchased by William Hill earlier this year to enable them to get a firm foothold in the US market.