More than 200 employees will be laid off
William Hill shuts down Israel office
Sources at the company said that representatives of the UK bookie had begun meeting individually with Tel Aviv based executives to explain the brand’s decision to consolidate the online portion of its business.
2017-06-27
Reading time 30 seg
Sources at the company said that representatives of the UK bookie had begun meeting individually with Tel Aviv based executives to explain the brand’s decision to consolidate the online portion of its business.
William Hill began operating in Israel in 2008, when it created William Hill Online as a joint venture with Teddy Sagi’s Playtech PLC.
Playtech transferred assets and technology into William Hill Online, including a large number of Israel-based employees, in return for a 30% interest in the venture. William Hill bought out Playtech’s holding in the JV in 2013 for £424 million.
Accotding to report published by Leap Rate news website, the strong Shekel combined with rising real estate prices and low unemployment levels, has made Israel a much more expensive place in which to do business.
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