The regulatory movement and the rise in popularity of online gambling have forced companies to develop their business to meet the constant evolution of the market. The past two years have seen the major companies such as Playtech and the Rational Group expand their empire into different markets.
Over the past month, William Hill has claimed its place among the gaming powerhouses with two acquisitions. The gaming operator began its growth with a £424m purchase of Playtech’s share in William Hill Online joint venture. The company officially took full control over its online business with this acquisition. William Hill followed this major transaction with a £459.4m joint acquisition of market leading SportingBet.
These acquisitions place William Hill in a position to expand its reach to various global markets and build upon its already successful business. The Sportingbet acquisition allows the gaming operator to take a major share of the sports betting market in Australia, which is one of the largest licensed markets in the world. Furthermore, the acquisition of its own shares allows the company to expand its business without sharing its profits.
According to eGaming Review, CEO Ralph Topping echoed the push for expansion. “Taking full ownership of William Hill Online is an important strategic step for William Hill as we continue to develop our online business, which plays a key part in our growth strategy,”
He added that “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.”
William Hill has seen significant growth over the past two years in its online division. In 2012, the gaming operator reported a 24% increase in net revenues for the online business and an astounding 56% overall growth. The company hopes to further expand upon these excellent figures with these acquisitions.