LONDON, March 20, 2013 /PRNewswire/ --
The UK's leading bookmaker William Hill today announced the completion of their acquisition of Sportingbet's Australian business as part of £460m transaction (A$660m).
William Hill is the UK's leading land-based and online bookmaker. It offers sports-betting and gaming in 2,400 licensed betting offices (LBOs) and operates across the UK and online, by mobile and over the telephone through William Hill Online. It was established in 1934 and has been listed on the London Stock Exchange since 2002.
The acquisition continues William Hill's move into international markets. Last summer, the company became the first British bookmaker licensed in the US following their purchases of three Nevada land-based businesses, a move preceded by approvals for licensing in both Spain and Italy for William Hill Online.
Ralph Topping, Chief Executive of William Hill, said:
"This acquisition is part of our core strategy to expand selectively into international markets and to grow our online business. Australia is one of the largest licensed betting markets in the world where William Hill does not have a footprint. We have particular skills in those areas of the market that are demonstrating strong growth: online, mobile, fixed odds betting and sports betting. The Sportingbet Australian business offers us a well-recognised brand, an experienced team and a market-leading position in a highly competitive market. We are excited by the potential of combining those strengths and look forward to working with our new colleagues to bring Australian customers a market-leading betting offering."
Michael Sullivan, Chief Executive Officer of Sportingbet, commented:
"Sportingbet is excited to become a part of William Hill, one of the world's leading wagering companies. It will be very much business as usual at Sportingbet with the existing management team staying in place to grow the business alongside William Hill. There will certainly be no change for our clients, who will continue to be offered the huge range of markets and service that they have become accustomed to. We also look forward to developing our existing relationships within the racing industry and continuing our support of major racing and sporting clubs across Australia"
ABOUT WILLIAM HILL
William Hill, The Home of Betting, is one of the world's leading betting and gaming companies, employing more than 16,000 people. Founded in 1934, it is now the UK's largest bookmaker with around 2,390 licensed betting offices that provide betting opportunities on a wide range of sporting and non-sporting events, gaming on machines and numbers-based products including lotteries. William Hill Online (http://www.williamhill.com) is one of Europe's leading online betting and gaming businesses, providing customers with the opportunity to access William Hill's products online, through their mobile, by telephone and by text services. William Hill PLC is listed on the London Stock Exchange and generates revenues of over £1.2bn a year.
Sportingbet Group Australia is a leading corporate bookmaker in Australia encompassing both the Sportingbet Australia and Centrebet brands. The group is based in Darwin and Sydney and employs more than 200 people. It operates under a licence provided by the Northern Territory Government and offers sports betting products via online (http://www.sportingbet.com.au, http://www.centrebet.com), mobile and telephone channels.
SOURCE William Hill