In a recent announcement by the company, the public was informed of William Hill’s plan to retreat from the entire Australian market and offer its services elsewhere. This transition and takeover is supposed to take place immediately, with certain acquisition plans completely underway.
Namely, the multiple online poker room owner The Stars Group Inc has already taken the necessary measures for such a major purchase. A couple of weeks ago, they became owners of the Crown Resort subsidiary which holds a major market share in the Australian sportsbook industry, CrownBet. This move makes The Stars Group an official owner of 80% of this establishment, as opposed to the previous 62% hold, enabling them to use CrownBet to purchase the entire William Hill Australia Holdings Pty Ltd.
The situation ultimately came to this after indications of tightening laws in the Australian gambling regulative, as well as the fact that William Hill was practically running at a loss. Once legal regulations would be implemented as a way to introduce a steady taxation policy on such institutions, William Hill would inevitably run up significant debt.
The exact numbers involving the purchase of this online operator reach a total amount of US$315 million, even though this amount will not be wholly paid up to William Hill headquarters. Due to their loses and more importantly their wish to turn this thing around any way they can, it was agreed that US$234 million would go to the online sportsbook operator William Hill, while the remaining US$81 million would end up at CrownBet.
Once the transaction is officially complete and signed, many additional questions are bound to unravel. There is the matter of William Hill’s subsequent operations, as well as the Australian-oriented operators’ plan to making their presence in that market more sustainable. Some speculations indicate that William Hill may take one of two paths – they could either retain their leading role in the Singapore, stabilizing over a smaller territory or they could take some risk and make a move for the US market. Taking in consideration the changing climate in general online gambling practices all over the USA, it may turn out to be an endeavor worth as much as The Stars Group’s.
In this regard, public statements from The Stars Group CEO have shown that this acquisition is more than just a simple market expansion and takeover. It is seen as a way to obtain means and instruments that could help this establishment in the struggle for their cause – preventing taxation policies and keeping the Australian online sportstbook market as regulated as it is, with the potential for growth. Overall, it goes to show that The Stars Group is aiming to make their investment pay off on both ends – both in their specific field and in the area of setting positive bases for online poker regulations and thus more appealing casino reviews.
