It has been announced that William Hill, an internet betting company, has now purchases the Australian based Tom Waterhouse. Tom Waterhouse is a bookmaker that operates within Australia. The deal is reported to be worth as much as $100 million.
The deal has been structured to include a purchase price of $34 million and the assumption of $6 million in debts currently on the books for Tom Waterhouse. Depending on the growth that is realized under the new ownership the purchase price could rise to as much as $100 million. This is based on a scale.
This deal is one of three that William Hill has closed recently within Australia as they continue to acquire betting sites within regulated markets. William Hill now owns Sportingbet and Centrebet, both of whom are focused in Australia.
Ralph Topping, CEO for William Hill said “The recent acquisitions we have made have given William Hill a solid platform to grow our business and with it comes experienced staff. The latest acquisition instantly provides us access to an increased customer base within Australia and beyond”