William Hill has further strengthened its position in the global online betting market with the acquisition of Australia’s Tom Waterhouse.
In a deal potentially worth AUS$70m ($64m), the UK-based giant has added the online betting company to its growing Australian business. In March, it acquired Sportingbet’s Australian arm for AUS$670m. Australia is now becoming its “second home market.”
Following the move, tomwaterhouse.com becomes part of William Hill Australia, led by CEO Michael Sullivan. Tom Waterhouse will remain managing director of tomwaterhouse.com.
“International expansion is a key part of William Hill’s growth strategy and making Australia our second home is our priority,” said Ralph Topping, William Hill chief executive. “The Sportingbet acquisition gave us a strong and proven platform with an experienced management team. Acquiring tomwaterhouse.com gives us a rapidly growing business that appeals to a wider customer base.
“I’m impressed by Tom Waterhouse and his team, who are passionate and entrepreneurial. They’ve built a good business in a short period of time and have achieved strong growth momentum. This deal brings them real benefits around scale, product and technology.”
