Sportingbet has announced that it is in advanced discussions with Australian company Centrebet International.
A reported £125m acquisition of Centrebet would accelerate Sportingbet’s strategy of increasing its exposure to regulated markets and of geographic diversification.
Sportingbet already has an established operational platform in Australia, into which it would integrate Centrebet’s operations. Directors believe that material synergy benefits will be available from merging the two companies and the acquisition is planned to be earnings enhancing in the first full year 2012/2013 post integration.
At present, an agreement hasn’t yet been reached and the proposal remains subject to a number of conditions, including a successful equity fundraising by Sportingbet.
