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Sportingbet and Centrebet finalizes their deal

Sportingbet, an iGaming sportsbook and operator revealed that it has finally completed the purchase of Centrebet International Limited, their Australian iGaming rivals for US$183 million after negotiating for almost 4 months.

Previously, the Northern Territory had licensed SportingBet to operate in Australia, so they are no strangers to Australia, but with this deal secured, SportingBet are now considered as the nation’s largest online bookmaker.

For the past four months, Centrebet and Sportingbet were into deep discussions regarding this purchase while the final deal will see Centrebet apply a pair of separate inter-conditional schemes of arrangement with the shareholders as well as performance rights holders.

The shares from Centrebet have been suspended from quotation on the Australian Securities Exchange with an application pending that would see them permanently removed from the official list.

Andrew McIver, Sportingbet’s Chief Executive Officer stated that “we are delighted to have completed the acquisition of Centrebet, which means we are now the leading bookmaker in Australia, a fast growing and regulated market.”

“This transaction highlights Sportingbet’s strategy of increasing its proportion of revenue generated from regulated markets and of geographic diversification.”

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