WillHill acquires online sportsbook TomWaterhouse.com
British bookmaking giant William Hill (SBR rating A) has acquired the online betting business of TomWaterhouse.com for a reported $34 million. Tom Waterhouse will stay on as managing director and could line his pockets with up to $70 million more under the terms of the earn-out agreement.
“I am excited by tomwaterhouse.com becoming part of the William Hill
family. We’ve been looking for the right strategic partner for some time
– William Hill is that partner and so much more,” Waterhouse said, according to a report by TheGuardian.com. Follow SportsbookReview.com on twitter. SBR has been the leading
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For WillHill's side, CEO Ralph Topping spoke on continuing to expand the business and his vision for the company to become Australia's biggest online sportsbook.
"International expansion is a key part of William Hill’s growth strategy and making Australia our second home is our priority. The Sportingbet acquisition gave us a strong and proven platform with an experienced management team. Acquiring tomwaterhouse.com gives us a rapidly growing business that appeals to a wider customer base," stated Topping.
SBR reported on March 20 that William Hill acquired SportingBet's Australian business and was granted a call option over their Spanish business in a deal with GVC Holdings, a provider of B2B and B2C services. It didn't take long for the Sporting shareholders to approve the deal.