Playtech boosted by William Hill joint venture

LONDON Feb 7 (Reuters) - Online gaming software company Playtech said its gross income increased 51 percent in 2012, helped by increasing profits from its joint venture with bookmaker William Hill.

Gross income for the year totalled 368.1 million euros ($498.3 million), comprising revenues of 317.5 million and a 50.6 million share of profit from William Hill Online.

William Hill wants to buy out Playtech's 29 percent stake and work to assess its value will be completed at the end of this month.

"As a result of the impressive performance in Q4 and since the beginning of the year, the Board is very comfortable with market expectations for the full year and looks forward to 2013 with confidence," said Chief Executive Mor Weizer.