William Hill Group Moving Into Eastern Europe

Published: Friday, April 22, 2005 Online-Casinos.com

GREEK ACCORD

Will Hill takes a look at eastern European opportunities

A wide-ranging collaborative agreement between major Brit betting group William Hill and the Grecian group Demco was signed this week that could open up opportunities for both companies in the south east of Europe.

The agreement will see the two companies working together to monitor the regulatory position within the Greek market, and actively pursue opportunities arising from any deregulation. The two organisations will also team up to look at other markets in the region like Romania and Bulgaria.

Taking bets within the Greek state is currently under monopolistic control of OPAP. It is however broadly anticipated that there will be some form of opening up of the Greek market in the medium term, opines William Hill management. The agreement between William Hill and Demco allows for the two groups to develop a joint venture following any such deregulation of the territory.

Demco Group has founded a number of successful Greek businesses in various sectors, including insurance, financial services, mobile, fixed line and satellite telecommunications, general aviation and the food industry. In addition, it has interests in media companies.

Commenting on the agreement, David Harding, Chief Executive of William Hill, said: "With a population of 10 million people and a passion for sport, a deregulated Greece would offer an attractive betting market. When the time is right, this agreement will allow us to combine our skills in sports betting with Demco Group's excellent track record in building successful businesses within Greece."