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William Hill takes punt on Sportingbet
Addisons Lawyers has acted on the acquisition of Sportingbet by William Hill, one of the world’s leading listed betting and gaming companies.
Digital
Firms: Addisons Lawyers (Sportingbet); Ashurst (William Hill)
Area: M&A
Value: $660 million
Key players: Addisons partners Jamie Nettleton (pictured) and Jeff Mansfield led for the firm
Deal significance: The principal objective of the acquisition was to enable William Hill to enter the Australian wagering market through the acquisition of Sportingbet’s Australian operation.
Sportingbet, which also owns Centrebet, is one of Australia’s leading online corporate bookmakers and expects to turn over around $2.8 billion this year.
William Hill chief executive Ralph Topping said on a recent trip to Australia that Sportingbet’s growth, particularly online, was a key factor in the acquisition, as was its presence in regulated markets, such as Australia.
Addisons handled all of the Australian aspects of Sportingbet’s acquisition of Centrebet in 2011, the expansion and conduct of Sportingbet’s Australian business, all Australian legal issues in connection with Sportingbet plc’s listing on AIM and transfer of its listing to the London Stock Exchange.
