The UK bookmaker has agreed to sell 50 betting shops to secure regulatory clearance for its purchase of 624 outlets from Stanley Leisure.
The Office of Fair Trading decided not to refer the acquisition to the Competition Commission for detailed scrutiny, provided Hills give “satisfactory undertakings to address the competition concerns arising from the supply of licensed betting services in local areas throughout the UK.”
An OFT officer explained the loss of Stanley in licensed betting services raised the realistic prospect of a significant lessening of competition in around 80 local areas.
“This means significantly reduced choice for punters, who in most cases tend to place a bet at a bookmaker within walking distance of their home or work,” said the OFT in a statement.
William Hill Chief Executive David Harding expressed disappointment at the number of shops the company was required to sell.
“We factored the sale of 50-60 shops into the deal, and have since sold 28 offices to the Tote, so I\’m slightly disappointed the OFT has taken such a hard line,” he said.
The bookmaker said in a statement to the London Stock Exchange to look forward to bringing the Stanley and William Hill retail businesses together.
In separate news, William Hill has announced the plan to air Major League Baseball on Sky Channel 425 offering the widest range of betting options available on the games, including \’live\’ betting on a number of markets.
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