Thursday August 8,2013 : WILLIAM HILL – WATERHOUSE DEAL IMMINENT (Update)
Expect an announcement Friday
The acquisition of Aussie bookmaking firm Tom Waterhouse's online betting interests by William Hill plc has moved a step closer, according to reports late Thursday in The Telegraph newspaper.
The report claimed that an announcement on the deal, said to be worth A$30 million (GBP 17.6 million) will be made tomorrow (Friday), and that Will Hill CEO Ralph Topping is currently in Australia clinching the agreement, which would bolster William Hill’s presence Downunder following its acquisition earlier this year of Sportingbet’s Australian business.
The acquisition would take WMH’s Australian online market share (by turnover) to around 25 percent, ahead of Paddy Power’s Sportsbet business, analysts said.
Tomwaterhouse.com was launched in 2010 by Aussie bookmaker Tom Waterhouse, who became famous (or notorious, depending on your viewpoint) as a television commentator giving odds on sports events in Australia .
Analysts estimate the Tom Waterhouse business has a 5 percent share of the Australian online market and would bring a more “mass-market and sports-led” audience to William Hill’s Australian business which is currently more focused towards horseracing and high-rollers.