GVC Holdings has completed the acquisition of Sportingbet, while William Hill has acquired Sportingbet's Australian business and been granted a call option over its Spanish business.
Kenneth Alexander, CEO of GVC Holdings, said: “The acquisition of Sportingbet is a transformational deal. It consolidates GVC's position as one of the leading operators in these markets and should provide scope for considerable growth.
“Over the next 18 months, the GVC board will be focused on integrating and restructuring the Sportingbet business and leveraging its market-leading sportsbook platform and trading team.”
After his company acquired the Australian business and was granted the Spain option for a total cash consideration of £459.4m, William Hill chief executive Ralph Topping 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,” added Topping.
