UK based betting firm Ladbrokes has announced that it has purchased Australian sportsbetting firm BetStar for £12.4 million (A$22 million).
Although Ladbrokes will own the company, BetStar's brand will continue to operate as is. Currently, the group holds more than 40,000 clients, and generated a Gross Win of A$12.9 million during the first quarter of the year.
The acquisition of BetStar is the latest Australian purchase for Ladbrokes, who recently purchased Bookmaker.com.au. Additionally, the group launched its proprietary Ladbrokes brand in the country and has ben pleased with the overall results.
Commenting on the deal Ladbrokes Managing Director of International Operations Damian Cope said, "Australia represents one of the most vibrant regulated sports betting markets in the world and today's announcement will see us add new customers to our growing presence. It offers us a chance to improve our market share and bring the innovative product development and marketing skills displayed by Ladbrokes.com.au to a wider audience."