Playtech revealed the early fruits of its online venture with bookmaker William Hill when the internet gambling software developer reported a 46 per cent year-on-year increase in gross income to €36m (£32m) for the first quarter.

The group, majority owned by Teddy Sagi, the Israeli entrepreneur, struck a deal last year when it transferred a host of gaming assets and contracts to the bookmaker to create William Hill Online (WHO) in return for a 29 per cent stake.