William Hill completes sportingbet acquisition
William Hill PLC (LSE: WMH) (William Hill or the Group), the UK’s largest bookmaker, announces that it has, today, completed the acquisition of Sportingbet’s Australian business and has been granted a call option over Sportingbet’s locally licensed Spanish business for a total cash consideration of £459.4m.
The acquisition was made as part of a recommended offer for Sportingbet by William Hill and GVC Holdings plc (GVC). It is in line with the Group’s strategy to develop its online business, to increase its exposure to attractive markets by taking local licences and to diversify its revenues by geography.
Ralph Topping, Chief Executive of William Hill, said:
“This acquisition is part of our core strategy to expand selectively into international markets and to grow online revenues. Australia is one of the largest licensed betting markets in the world where, up until now, William Hill has not had a footprint. We have particular skills in those areas of the Australian market that are demonstrating strong structural growth: online, mobile, fixed odds betting and sports betting. The Australian business offers us a well-recognised brand, an experienced team and a market-leading position in a highly competitive market. We look forward to working with our new colleagues to use the capabilities of both businesses to maximise that position.”
In February 2013, William Hill received confirmation from the Northern Territories Commission and the Australian Foreign Investment Review Board that they had granted their respective approvals of the Group’s ownership of Sportingbet’s Australian business.
William Hill PLC
Ralph Topping, Chief Executive
Neil Cooper, Group Finance Director
Lyndsay Wright, Director of IR
Tel: +44 (0) 20 8918 3614
Simon Sporborg / Sophie Brand / Oliver Hughes
Tel: +44 (0) 20 7404 5959
About William Hill
William Hill, The Home of Betting, is one of the world's leading listed betting and gaming companies, employing more than 17,000 people. Founded in 1934, it is now the UK's largest bookmaker with more than 2,390 licensed betting offices (LBOs) that provide betting opportunities on a wide range of sporting and non-sporting events, gaming on machines and numbers-based products. William Hill Online (www.williamhill.com) is one of Europe's leading online betting and gaming businesses, providing customers with the opportunity to access William Hill's products online, through their mobile, by telephone and by text services. William Hill PLC (www.williamhillplc.com) is listed on the London Stock Exchange and generates revenues of over £1.2bn a year.
About Sportingbet in Australia
The Sportingbet business (www.sportingbet.com.au) is one of the leading online corporate bookmakers in Australia. It is based in Darwin and Sydney, operating under a licence provided by the Northern Territory Government with approximately 210 employees. The business offers sports betting products via online, mobile and telephone channels.