CENTREBET REGROUPS

29 May 2009

Paddy Power's stake in IAS means new acquisition targets for Centrebet
 

One of Australian online sportsbetting group Centrebet's prime acquisition targets for the past few months, International All Sports, is off the list following Paddy Power's successful bid to gain a major interest in the company through Sportsbet, and Centrebet is now looking elsewhere, the company announced this week.

The announcement draws a line under the determined attempts, which included a hostile takeover bid, made by Centrebet to gain a strong foothold in its IAS rival.

The company feels that there are good alternative possibilities in the market in the wake of the privatisation of agencies and licenses planned by state governments in New South Wales, Tasmania and Victoria.

Luke Brill, Centrebet's marketing chief, says: “We’re continually looking for acquisitions. We’ve got a strong name in the Australian marketplace and we are increasing our marketing spend and registrations.”

The Australian gambling market is a vibrant and therefore attractive one, and Centrebet could face competition on the acquisition trail from European rivals following Paddy Power's lead in entering the Aussie sector with its Sportsbet move and reported follow-on expansion plans.

Ladbrokes has already shown interest in the Victoria state gaming licence (see previous InfoPowa reports), and in the Tote Tasmania betting agency, and Betfair has a well-established Australian arm.        

Online Casino News Courtesy of Infopowa

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