William Hill PLC - RE Joint Venture
William Hill awarded first Madrid sports betting licence
William Hill PLC today announces that the Madrid Autonomous Region in Spain has awarded a sports betting license to Victoria Apuestas SA (Victoria), a joint venture between the William Hill group and Codere SA.
Victoria is the first company in Madrid to be authorised to open a sports betting operation since the region legislated to allow sports betting. Victoria expects to begin operating within the next few days, initially from the largest bingo hall in Madrid, the Canoe. It plans to secure 70 points of sale in the Madrid area during the course of 2008.
Each joint venture partner has initially invested Euro10 million.
Last October Victoria, through its subsidiary, Victoria Garaipen Apustak SL also obtained one of three licences issued in the Basque region.
Ralph Topping, CEO of William Hill, commented, "Our development into Spain, in partnership with Codere, offers a natural expansion of our business and an opportunity to utilise our expertise in sports betting within new markets."
|Ralph Topping, Chief Executive||Tel: +44 020 8918 3910|
|Ian Spearing, Group Director, Corporate||Tel: +44 020 8918 3937|
|Strategy and Business Development|
|Deborah Spencer, Brunswick||Tel: +44 020 7404 5959|
Notes to Editors
Founded in 1934, William Hill is one of the leading providers of fixed odds bookmaking services, offering odds and taking bets on a wide range of sporting and other events, as well as offering gaming machines in licensed betting offices and operating online casino, poker and fames sites as well as two greyhound stadia.
It is a market leader in all major betting channels in the UK with an established international presence through its online business.