UK Based Ladbrokes May Acquire Australian Company Betstar

Added: May 3, 2014

Earlier in the week, we heard a rumor that the Australian online gambling company Betstar might be acquired by UK based gambling giant Ladbrokes. The owner of Australian based Betstar, Alan Eskander, has confirmed that an offer in the region of $20 to $25 million had been made by Ladbrokes to buy his online gambling company.

This is not the first time that Betstar has been an acquisition target. However, last time it was, way back in 2012, the owner stated that he wanted to keep Betstar as an Australian online gambling company, and would not consider being an acquisition target for any company. However, it seems that the owner may be changing his mind. Maybe this was prompted by the buyout of Australian based Waterhouse last year for a massive $100 million by William Hill, another UK based gambling company. It seems that UK companies want to get into the Australian online gambling market in a big way, and this means more cash for Betstar if they are acquired.

Betstar has an annual revenue of somewhere in the region of $300 million, so even the top end bid of $25 million is rather low. It is expected that there will be an official announcement made about the Ladbrokes acquisition of the Australian online gambling company Betstar very soon. Now, when you hear words like these, you can pretty much rest assured that the deal is going to be done, unless something very odd occurs that causes either party to pull out?

So how does this affect Australian online gambling fans? Well in truth, it could be a good thing. Sure, we lose a local businessman as the owner of Betstar. But in the same breath, we gain the massive resources and the decades of experience that comes with Ladbrokes taking over management of Betstar. This can only lead to a better service and a better online gambling site. So overall, we think that Ladbrokes taking over Betstar is not such a bad thing. Ladbrokes has a reputation as one of the top gambling companies in the world, and having it as a presence in the Australian online gambling market can only bring more quality to us Australian online gamblers. Once we have more news about the buyout of Betstar by Ladbrokes, we will surely publish here, so check back soon, and discover just when we are likely to see the full acquisition take place, and Betstar becoming owned by Ladbrokes.