No surprise that there's been a cynical reaction amongst punters to the news that leading UK bookmaker William Hill has completed its acquisition of Sportingbet's Australian business - for a whacking $660 million.
No surprise that there's been a cynical reaction amongst punters to the news that leading UK bookmaker William Hill has completed its acquisition of Sportingbet's Australian business - for a whacking $660 million. The acquisition continues the publicly listed company's move into international markets. "This acquisition is part of our core strategy to expand selectively into international markets and to grow our online business. Australia is one of the largest licensed betting markets in the world where William Hill does not have a footprint," says Ralph Topping, chief executive of William Hill. "The Sportingbet Australian business offers us a well-recognised brand, an experienced team and a market-leading position in a highly competitive market." On the racing forums, some punters were just a little contemptuous of the deal. 'Jumbo' wrote on Racenet: 'The more Britsh betting companies we have in this country, the more he will have punters accounts profiled, restricted and closed.'