Centrebet is up for sale


Plenty of interest from Brit buyers for Aussie online gambling firm

The possibility of an online gambling-friendly change in Australian federal gambling laws is creating ripples of interest among analysts and potential buyers alike, reports The Australian newspaper.

Shares in the family owned company Centrebet soared 16 percent this week, giving it a market capitalisation of A$143 million on speculation that three major overseas online gambling companies could be interested in snapping Centrebet up.

The company is 60 percent owned by the family of CEO Con Kafataris, and analysts opined that Ladbrokes, William Hill and Sportingbet are likely overseas suitors.

Industry observers base their speculation on the report of the Australian Productivity Commission which has recommended a number of reforms to Aussie gambling law which are favourable for the growth of online sportsbooks and casinos in Australia, a country with a strong gambling culture.

"The report foreshadowed ending state TABs' monopoly operation of betting terminals and allowing Australian operators to run online casinos as well as introduce online betting on events while in progress," The Australian advises, quoting one analyst who is sure the prospect of such a change has heightened overseas interest in the Australian online gambling market's potential.

Centrebet released a statement to the Australian Securities Exchange on Monday saying it had received "a number of confidential, indicative, non-binding and conditional proposals from parties expressing an interest in the possible acquisition of the company and is facilitating discussions".

The Australian notes that Centrebet's takeover talks with the British firms follow the UK-based Paddy Power's purchase of a controlling stake in Australian-based Sportsbet in the middle of last year and Sportsbet's subsequent purchase of fellow Australian operator IASbet.

General Gambling News Gambling Law & Society News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

4mins ago someone from United States played 2Can

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

Casino Of The Month

Casino of the Month

In the last 24h

Totals

  • New Members
    27
  • Members Online
    405
  • Guests
    1,631
Highest Community Rated Online Casinos
SlotsMillion
  (122 Ratings)
32 Red Casino
  (394 Ratings)
Guts Casino
  (218 Ratings)
Club USA Casino
  (320 Ratings)
Mr Green Casino
  (335 Ratings)
Buzzluck Casino
  (193 Ratings)
Lucky Red Casino
  (252 Ratings)
Videoslots.com
  (187 Ratings)
Nexxedge
  (71 Ratings)
Bet365 Games
  (202 Ratings)
NextCasino
  (198 Ratings)
Unibet Casino
  (177 Ratings)
CasinoLuck
  (265 Ratings)
Betsson Casino
  (257 Ratings)
Redbet Casino
  (190 Ratings)
Betsafe Casino
  (233 Ratings)
ComeOn Casino
  (298 Ratings)
Spin Palace Casino
  (138 Ratings)
Casino Extreme
  (200 Ratings)
Raging Bull
  (110 Ratings)
Vera John Casino
  (210 Ratings)
Intertops Red Casino
  (146 Ratings)
Thrills Casino
  (175 Ratings)
Slotty Vegas
  (140 Ratings)
BETAT Casino
  (234 Ratings)
Slotland
  (371 Ratings)
Ladbrokes Casino
  (171 Ratings)
Sin City Casino
  (127 Ratings)
Winner Casino
  (373 Ratings)
Mummys Gold
  (151 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus