The UK based internet gambling firm, William Hill has confirmed that it was really in talks regarding the acquisition of Tom Waterhouse’s Australian Sports Betting operations. This was confirmed after the two companies signed off the deal after reaching an understanding and an agreement regarding the takeover deal. William Hill has previously refused to give any comments on the deal and regarding the talks but it seems that the rumors and reports were true as it has been confirmed that the deal has taken place.
This purchase was announced on the 9th of August as William Hill has stated that the talks regarding the takeover are done and that the deal is finalized for a total of 34 million dollars. Despite that, it is expected that William Hill might pay over 70 million dollars in the upcoming future to the former shareholders of the company according to the 2013 performance reports of the operations of Tom Waterhouse. The share prices of William Hill are predicted to witness an increase after the takeover announcement.
This takeover news comes a few months following the takeover and the acquisition of another big name in the Australian gambling market, the sports betting operator that is entitled SportingBet. This acquisition cost William hill a total of 459.4 million pounds. All of this is carried out in order to enhance and support the presence of William Hill in the Australian gambling market.
This was confirmed through a statement by the gambling operator where it stated that the acquisition of Tom Waterhouse was in line with the overall strategy of the company as it tries to emerge as one of the biggest internet sports betting operators in the market of Australia. Although Tom Waterhouse is relatively a small name in the Australian market, it had the strongest brand awareness in all of Australia. This was a result of the recent studies and researches that showed that Tom Waterhouse has the best brand awareness in the country, even surpassing big names in the industry such as CenterBet and Sporting Bet, which was also purchased by William Hill. This is expected to massively help out William Hill in establishing its brand awareness in Australia.
Tom Waterhouse is an Australian internet sport betting operator that was founded 3 years ago in 2010. The operator has the name of its main founder, the thirty-one year old entrepreneur, Tom Waterhouse. It is also confirmed that Tom Waterhouse is going to join the Australian management team of William Hill following the acquisition.