William Hill - Waterhouse Deal Imminent

WILLIAM HILL - WATERHOUSE DEAL IMMINENT

08th August, 2013 at 14:33:44
Source: http://www.azonlinecasinos.com

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 ( 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 (see previous reports).

Analysts estimate the Tom Waterhouse business has a 5% 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.

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