William Hill extends contract for its chief executive officer

Ralph Topping, chief executive officer of British bookmaker William Hill PLC, is sticking around after receiving a new contract to lead the company until the end of 2013.

Topping, who turns 60 next month, was appointed CEO in February 2008 and has 40 years of experience with the London-based company in a variety of operational and leadership roles. His contract comes with a base pay of $983,423 annually (600,000 pounds) and 552,995 shares, which will vest at the end of 2013.

In May, William Hill announced several acquisitions in Nevada as part of its international expansion. The company spent more than $53 million to buy three sports wagering companies, including American Wagering Inc., the parent company of 72 Leroy's Horse & Sports Place sports books.

The bookmaker also owns Club Cal Neva Satellite Race and Sports Book Division in Northern Nevada and Brandywine Bookmaking LLC of Las Vegas, which operates 16 Lucky's sports books in Nevada.