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William Hill Acquisition Of Sportingbet Australia Approved

Thu, Feb 14, 1:22pm by Kevin Pitstock

The Northern Territory Racing Commission today approved the acquisition of Northern Territory based Sports Bookmaker Sportingbet by UK based gambling company William Hill.

Sportingbet, licensed since 2002, is one the Territory’s leading on line sports bookmaking firms contributing to the Territory’s $6 billion sports betting industry and the local economy, through taxation, employment and sponsorship.

William Hill is the UKs leading retail operator and the strategic acquisition will increase their on-line presence and revenues. They are financially sound with net assets of GBP 900 million and have excellent governance and regulatory procedures. William Hill are considered innovators in product and mobile technology.

Australian bookmaking companies Sportingbet and Centrebet were owned by UK based gambling company Sportingbet PLC, with Centrebet being the focus of a $183 million acquisition in mid 2011.

This latest round of trades in Australian gambling firms has seen William Hill pay approximately $783 million for the Sportingbet Australian businesses, namely Sportingbet and Centrebet.

Two other key corporate Australian bookmakers, Iasbet and Sportsbet are owned by European bookmaking giants Paddy Power, while Luxbet and Tom Waterhouse remain in Australian ownership.

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