t is in line with the Group’s strategy to develop its online business, to increase its exposure to attractive markets by taking local licences and to diversify its revenues by geography.
Ralph Topping, Chief Executive of William Hill, said: “This acquisition is part of our core strategy to expand selectively into international markets and to grow online revenues. Australia is one of the largest licensed betting markets in the world where, up until now, William Hill has not had a footprint. We have particular skills in those areas of the Australian market that are demonstrating strong structural growth: online, mobile, fixed odds betting and sports betting. The Australian business offers us a well-recognised brand, an experienced team and a market-leading position in a highly competitive market. We look forward to working with our new colleagues to use the capabilities of both businesses to maximise that position.”
In February 2013, William Hill received confirmation from the Northern Territories Commission and the Australian Foreign Investment Review Board that they had granted their respective approvals of the Group’s ownership of Sportingbet’s Australian business.