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LADBROKES CONFIRMS BETSTAR ACQUISITION
Wednesday April 9,2014 : LADBROKES CONFIRMS BETSTAR ACQUISITION (Update)
A$ 22 million paid for Aussie online sports betting site.
UK land and online gambling group Ladbrokes has confirmed media reports yesterday that it has acquired the Australian online sportsbetting company Betstar, advising that it paid A$ 22 million (GBP12.4 million) for the asset.
Betstar has approximately 40,000 registered customers and, in the year to 31 March 2014, it generated gross win of c.A$12.9 million on A$214 million amounts staked. On completion the business is projected to be break-even at an EBITDA level for the prior twelve months.
Annualised cost synergies of approximately A$5 million will be realised from the migration of Betstar’s operations to Ladbrokes’ digital platform and the acquisition is expected to be earnings accretive in its first year under Ladbrokes ownership.
The Betstar brand will be maintained, a Ladbrokes spokesman said.
The acquisition builds on the company's presence in the Australian market following last year’s acquisition of Bookmaker.com.au and the creation of Ladbrokes.com.au.
Commenting on the acquisition, Ladbrokes md for international operations, Damian Cope said:
“Australia represents one of the most vibrant regulated sports betting markets in the world and today’s announcement will see us add new customers to our growing presence. It offers us a chance to improve our market share and bring the innovative product development and marketing skills displayed by Ladbrokes.com.au to a wider audience.
Oink Country Love Slot Launches -
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Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
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Sensational Sixes Slot Goes Live -
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3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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