Wiliam Hill looking at Probability
It is not clear what price William Hill is willing to pay for Probability but some sources said the bookmaker could pay a significant premium for the AIM-listed business. Shares in Probability closed at 49p on Friday night, valuing the business at £12.88m.
Although Britain’s biggest bookmaker is in highly preliminary discussions to buy Probability, people familiar with the matter cautioned William Hill is looking at a variety of mobile phone gaming acquisitions and it is quite possible both companies may not be able to agree a deal.
Probability was founded by entrepreneurs Charles Cohen and John Scaife in 2003.
The company focuses on providing gambling platforms to mobile phones and other hand-held electronic devices. One of Probability’s well- known brands is Ladylucks, whose games include Bingo and slot machines.
If successful, the deal would be the latest in a long line of recent acquisitions. Earlier this year, William Hill bought several land-based sports betting businesses in the US.
After the US banned online-gambling in 2006, European companies have been jockeying for position to buy US land-based gambling businesses.
A spokesman for William Hill said: “We are always looking at many opportunities, particularly in the online and mobile space. However, we never comment on individual situations.”
