Earlier this week, leading UK bookies William Hill and GVC finalised their takeover of Sportingbet's Australian business for no less than £460 million (pound sterling). The acquisition was completed and announced on 19 March 2013.
Sportingbet, a leading British corporate bookmaker, sold off its Australian business and an option on its Spanish arm. Included in the package was Sportingbet's successful online poker brand Paradise Poker.
Established back in 1934, William Hill is the one UK's leading and largest bookmakers with an annual revenue of over £1.2 billion. This takeover bid is one in a long chain of moves to tap into growing international markets. Last year, 90% of William Hill's revenue was generated in Britain, but this is all set to change as part of the company's new international strategy: Australia is one of the world's largest licensed betting markets and William Hill is set to capture a huge audience with its online and mobile gambling products.
Last June, William Hill became the first UK bookmakers licensed for sports betting in the US, when they purchased three land-based gambling premises in Nevada. Prior to that, they had obtained their Spanish and Italian licenses.
Online gambling made up 28% of William Hill's revenue in 2012 and this figure is only set to grow and grow. Further updates will be reported here at Online Casino Reports.