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William Hill should take a punt on Playtech JV

Squabbles continue to sour William Hill's relationship with Playtech, and need resolving

Bookmaker William Hill is reported to have run into further difficulties with its Playtech joint venture, the engine of its rapid online growth. And to protect its online growth prospects, Hill's management is going to have to act decisively sooner rather than later on the future of the joint venture, and this could end up costing the business a handsome sum.

IC TIP: Buy at 249p

Often, conflicting corporate cultures undermine the original logic of joint ventures and acrimony generally ensues. But, operationally at least, William Hill's joint-venture with Playtech to run the bookmaker's online operation has been a huge success; double-digit sales growth over the past three years has established William Hill as one of the UK's biggest online brands.

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