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William Hill Talk of a GBP 80 million acquisition deal
5/3/10 - Persistent rumours that major British online gambling companies are interested in buying the Australian gambling group Centrebet (see previous InfoPowa reports) 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.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
NBA Odds: Wizards-Celtics at the Garden -
The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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