UK based betting giant WIlliam Hill has announced that it has acquired Australian bookmaker Tom Waterhouse in a deal that could potentially be worth up to A$100 million.
The initial acquisition price is A$34 million and will include Will Hill assuming A$6 million of Tom Waterhouse's debts. The price could also rise on a sliding scale depending on the amount of growth that Tom Waterhouse sees.
With the acquisition, William Hill now owns parts of at least three betting firms in Oz. The UK firm also owns Centrebet and recently acquired Sportingbet's Australian busienss for A$670 million.
Commenting on the deal William Hill CEO Ralph Topping said, "The Sportingbet acquisition gave us a strong and proven platform with an experienced management team. Acquiring tomwaterhouse.com gives us a rapidly growing business that appeals to a wider customer base."