The largest betting agency in the world in terms of market value, British giant gambling company William Hill just got a little bigger with the acquisition of Australian online betting mega-company Tom Waterhouse NT.
William Hill paid A$110 million or about GBP 64 million, and $34 million (U.S.) and acquired the company debt. This makes William Hill the leading online sportingbet Australia site as of August 2013. This increases value for the brand that is an FTSE 100 group that also employs 3,000 people in Yorkshire and nearly 1,300 Leeds workers
William Hill pledged to put money into Ton Waterhouse NT to make the online giant even better for bettors. William Hill will invest up to A$70 million adjusted to earnings on tomwaterhouse.com to guarantee annual growth of the company to A$10 million in 2014 and A$30 million in 2015.
Already operating Centrebet in Australia, William Hill’s takeover effort supplements its recent purchase of Sportingbet PLC’s operations in Australia. It paid A$670 to Sportingbet and took over Tabcorp Holdings Ltd. in the land down under. William Hill CEO Ralph Topping said the acquisitions were expanding the company’s customer base rapidly in compatible markets.
Topping said the company was putting in place the top people in sports betting to form one impressive team. Tom Waterhouse and his team represented a valuable addition to the William Hill family, he said.
William Hill makes more than GBP 1.2 billion annually. However, the tomwaterhouse.com site is not making money. William Hill leadership was confident its influx of capital and other “substantial synergies” would turn around the /australian giant. Tom Waterhouse will keep his post as managing director and join the William Hill team, officials said.
The international market has assumed front center stage for William Hill, the top betting company in market value in the world. Company officials now term Australia as its “second home market.” The Tom Waerhouse company had been controversial. Waterhouse frequently appeared on Channel Nine as a highly publicized bookmaker. He provided a public face to the making of odds for football games on the tube. However, it later was revealed he paid to be on TV.
The Australian government announced a crackdown n bookies promoting betting odds after those disclosures. Waterhouse said he would get off TV in a public letter printed in The Daily Telegraph.