The news of William Hill plc’s acquisition of 29.4 percent interest in online lottery and software developer NeoGames was announced on Thursday. The company purchased the share for a $25 million consideration with the potential to acquire the remaining 70.6 percent pending performance over the 3 and 5 year marks.
The deal will see William Hill enter the online lottery sector.
Will Hill CEO James Henderson said, “The emergent online lottery market is an exciting new opportunity in the gambling sector and NeoGames is a disruptive technology operator offering customers a great experience and lottery rights holders a compelling alternative to established retail lottery operators.”
“This agreement gives William Hill good optionality in a new market that is increasingly attractive to gambling customers.”
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