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Sportingbet In Bid To Purchase Centrebet....
Sportingbet In Bid To Purchase Centrebet....
Sportingbet is one of the world’s most reputed online gambling operators. It offers financial betting, sports betting, online casinos, poker, and backgammon. The company has recently confirmed that it is currently in negotiations with the Australian company, Centrebet, for acquiring it.
Porto,
Porto,
Portugal
(pr4links.com)
24/06/2011
Listed on London Stock Exchange, Sportingbet is one of the most reputed companies which operate online casinos, local-focused sportsbooks, online poker cardroom, and virtual games. With around 2.5 million registered customers, the company operates in 200 countries. The latest news is that Sportingbet in bid to purchase Centrebet, an Australian online bookmaker company, to acquire it for AUS$175 million. Sportingbet is expecting to buy this Australian company under its strategy to expand its operations geographically more into the gaming market. The news has been recently confirmed from Sportingbet only. The reason behind acquiring this company is that the competition in online gaming has been more intense over a period of few years. In order to remain ahead of the competition and to expand operations geographically, the company has been negotiating with Centrebet.
Licensed in the Northern territory, Centrebet is an Australian bookmaker company. Originated from Alice Springs, it was the first bookmaker which was licensed in Australia. In addition, it was the first bookmaker in Southern Hemisphere to go online. It is one of the biggest bookmaker companies in the world, with operations both within and outside Australia. Sports betting market in Australia has seen a tremendous increase in its yearly revenue growth. It has risen by almost 200 percent increase in its annual returns. Because of this, Sportingbet is in bid to purchase Centrebet and is looking forward to buy it.
The other reason of planning this expansion is that the Paddy Power has also started up its operations in Australia. Ever since it started up, the competition has become more intense. The Irish bookmaker company has already increased its share in online gambling market by as high as 20 percent. In addition to Bet365, it is also there on the scene in the Northern territory of Australia. Because of the current competition in Australia and extended market for online betting, each company wants to start its operations in the country and grab the market share. As Sportingbet is already a popular company, it will not be much difficult for it to launch its operations in the Southern Hemisphere and grab the market share.
As declared, Sportingbet has a net cash of £25 million. It has to raise more money to go ahead and buy his Australian company. It still needs a significant amount of £120 million to take over the company. With the current situation, it may seem little difficult, but with such a good reputation in almost 200 countries, there are good chances of Sportingbet to raise this much amount.
Sportingbet is the UK’s most reputed company which operates online casinos, sports betting, and financial betting in 200 countries with a customer base of 2.5 million. It is currently in negotiation with an Australian bookmaking company, Centrebet, and is looking forward to acquire it to expand its operations in southern hemisphere.
Contact:
Online Casinos Planet
Address
Rua Egas Moniz 44
4050 Porto
Portugal
Phone
938512442
About
Sportingbet is one of the world’s most reputed online gambling operators. It offers financial betting, sports betting, online casinos, poker, and backgammon. The company has recently confirmed that it is currently in negotiations with the Australian company, Centrebet, for acquiring it.
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