SPORTINGBET TO ACQUIRE CENTREBET


The cash purchase would expand Sporting bet's presence in Australia


It has been revealed that Sportingbet is in advanced talks with Australian scctsoooK. Centrebet International Ltd. for a A$175 million ($189.6 million) acquisition of the company.

The cash purchase would expand Sporting bet's presence in Australia as the company looks to further its foothold in markets away from its European business. Sportingbet CEO. Andrew Mclver, said in a statement that, "An acquisition would accelerate Sportingbet's strategy of increasing its exposure to regulated markets and of geographic diversification."

The company expected the acquisition to add to its earnings in the first full year, post-integration. Sportingbet shares rose 3.3 percent to 47.5 pence, while Centrebet shares closed up 12.6 percent at AS1.79 on the Australian Stock Exchange.
 
printer friendly create pdf of this news itememail to someone
  Login to rate