Rumours rife in Centrebet acquisition


Talk of a GBP 80 million acquisition deal

Persistent rumours that major British online gambling companies are interested in buying the Australian gambling group Centrebet received a boost this weekend with the news that William Hill plc may be among the possible suitors.

The Sunday Times was first out with the news that a deal between the two companies worth an estimated GBP 80 million was in the works, with claims that an executive team from the UK company is already in Australia doing due diligence work.

Centrebet revealed in March this year that it had received "a number" of conditional acquisition proposals as part of a review of consolidation opportunities, both as acquirer and target. The company said no agreement had been reached and discussions could take several months to conclude.

Other companies said to be talking to Centrebet include Will Hill rival Ladbrokes, and the giant Vienna-listed online gambling group Bwin.

Australians’ propensity to gamble, and the recent recommendation by the government’s Productivity Commission suggesting that regulation may be a wiser course has increased interest in the country’s gambling business potential.
Last year Irish bookie Paddy Power bought control of the internet and telephone betting service Sportsbet and IASBet, and Betfair’s man in Australia, Andrew Twaits, recently said: "I think Australia is going to be squarely on the strategic map of a lot of those international businesses, so you will probably see more players come into the market."

"William Hill, Ladbrokes and (British group) Coral are companies I would expect, whether it's through acquisitions or starting up themselves, to look at entering the Australian market at some point in the next year or so."

Centrebet was the first bookmaker to go online in the Southern Hemisphere, and was acquired by the SportOdds Group in 2003 for A$ 46.55 million. In 2005, SportOdds merged its Centrebet, SportOdds.com and SuperOdds.co.uk businesses into one entity, known as Centrebet.

General Gambling News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

4mins ago someone from Serbia played Top Trumps - World Cup Stars

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
    22
  • Members Online
    398
  • Guests
    1,579
Highest Community Rated Online Casinos
BETAT Casino
  (207 Ratings)
SlotsMillion
  (67 Ratings)
32 Red Casino
  (335 Ratings)
Guts Casino
  (195 Ratings)
Club USA Casino
  (268 Ratings)
Mr Green Casino
  (297 Ratings)
Buzzluck Casino
  (168 Ratings)
Lucky Red Casino
  (218 Ratings)
Videoslots.com
  (158 Ratings)
NextCasino
  (164 Ratings)
Bet365 Games
  (182 Ratings)
Bohemia Casino
  (11 Ratings)
Unibet Casino
  (155 Ratings)
770red
  (8 Ratings)
CasinoLuck
  (240 Ratings)
Betsson Casino
  (227 Ratings)
Betsafe Casino
  (200 Ratings)
Redbet Casino
  (165 Ratings)
Spin Palace Casino
  (124 Ratings)
Casino Extreme
  (175 Ratings)
Slotty Vegas
  (120 Ratings)
Intertops Red Casino
  (130 Ratings)
ComeOn Casino
  (263 Ratings)
Sin City Casino
  (110 Ratings)
Vera John Casino
  (189 Ratings)
Intertops Casino Classic
  (117 Ratings)
Thrills Casino
  (145 Ratings)
Winner Casino
  (357 Ratings)
Ladbrokes Casino
  (160 Ratings)
Slotland
  (324 Ratings)


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