Patrick Jonker has chosen not to serve as William Hill’s International Managing Director, as confirmed by the betting company. The departure of Jonker is on mutual terms, and the move is timed closely to William Hill’s anticipated merger with 888 Holdings. The near $3-billion deal (£2.2 billion) was agreed to last month by 888 and Caesars. Stephen Parry, the Group COO, will serve as William Hill’s short-term International Managing Director.
Jonker Joined William Hill in 2019
Jonker was a former MD at Betsson Group and joined William Hill in 2019. He was an executive hire of Group Chief Executive Ulrik Bengtsson. Jonker was responsible for leading the recovery process of the company after it suffered multi-million losses for several years.
Jonker also played a major role in the acquisition and integration of Mr. Green in 2019 for approximately $340 million (£250 million), as he was a key stakeholder. This massive deal allowed William Hill to establish its so-called International Division that operates across European markets that are regulated.
Jonker said in a statement that he feels “comfortable stepping aside” so that the new management can prepare for the future of William Hill International. Bengtsson thanked Jonker for the leadership and dedication that he showed towards William Hill International in the past two and a half years and wished him the best in his future.
The Betting Industry in the US Keeps Growing
Even though a few years ago, online betting in the US was mostly forbidden, the 2018 US Supreme Court decision paved the way for the industry to open and allow it to grow. As of now, online betting has been legalized in more than 26 states.
Furthermore, online gambling has begun its journey, too, and, even though it is legal in just a handful of states (West Virginia, Delaware, New Jersey, Michigan, Pennsylvania), it proves to be extremely profitable. Connecticut is likely to join the list, as the state intends to legalize both online betting and online gambling.
Before Connecticut announced its decision to enter, projections stated that the online betting and online casino industries would net around $12.2 billion by 2025, but an update by a J.P. Morgan analyst, Joseph Greff, showed that the profit is likely to increase and possibly reach $19.3 billion. Sports betting’s share of the pot would be around $11.5 billion, while iGaming’s revenue is likely to be $7.8 billion.
According to the previous projections, the revenue of sports betting was supposed to be $7.6 billion, while iGaming’s revenue was supposed to be $4.6 billion.