William Hill closing Israel software operations

Azrieli Towers  picture: Eyal Yitzhar
Azrieli Towers picture: Eyal Yitzhar

Most of the UK bookmakers 250 software employees in Tel Aviv's Azrieli Towers will be laid off.

UK bookmaker William Hill plc (LSE:WMH) is closing down its Israel operations, which provide the software platforms for online gambling. Most of the company's 250 employees in Tel Aviv will be laid off although some personnel will be offered the opportunity to relocate to the UK.

According to website LeapRate.com, William Hill feels that its Israel operations have become too expensive and so it is now moving its software division back to the UK. The strength of the shekel against sterling means that salaries and the rent William Hill pays for offices in Tel Aviv's Azrieli Towers make the Israel office uneconomic.

William Hill's Israel operations are an offshoot of William Hill Online, which began as a joint venture in 2008 between the UK bookmaker and Playtech (LSE:PTEC) controlled by Israeli billionaire Teddy Sagi. In 2013, William Hill bought out Playtech's 30% stake for £424 million.

Published by Globes [online], Israel business news - www.globes-online.com - on June 26, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Azrieli Towers  picture: Eyal Yitzhar
Azrieli Towers picture: Eyal Yitzhar
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