• 1st October 2011 - By admin

    Bookmakers William Hill has officially confirmed its interest in buying the online gambling business Probability. Negotiations concerning the purchase of the successful internet gaming company – believed to currently attract somewhere in the region of a million UK customers – have now opened. The interest shown in the company by William Hill – one of Britain’s leading gambling firms, demonstrates the ever increasing rise in online gambling.

    The public announcement of the planned takeover has already led to a significant increase in the share values for both companies, with Probability shares rising by over 40%. The move to buy Probability is part of a larger expansion plan by William Hill, which has already seen them purchase a number of regulated sports gambling companies in America to enable them to exploit the US market and the Probability purchase is intended to put them ahead of rivals such as 888 holdings, in the lucrative online gaming sector.

    According to new regulations governing the takeover of companies, Probability now has a 28 day period to respond to William Hill’s offer, with the company having indicated that its preference would be for the offer to be made in cash. The business announced a loss, pre-tax, of £1.1 million for the previous financial year, but it is considered that this was largely due to the costs involved in streamlining the business and moving its base of operations to Gibraltar.

    Mobile gaming is an increasingly important area of the market for the major gambling firms, as the rise of portable technologies such as the mobile phone and tablet computers, have made it possible for people to place bets online from any location. Betting companies including Ladbrokes have stated that their business has doubled in the last ten years, thanks to the options available to customers for remote gambling.

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