Gaming group Paddy Power Betfair has announced that they're considering purchasing additional Australian betting properties after they were unable to purchase William Hill's sportsbetting business within the continent.
The company is looking to the horizon to see what they can do to boost their business within the country. Paddy Power Betfair currently owns Sportsbet, which is a large player in the market. It's currently unknown what brands the company is looking toward purchasing.
Speaking about the country's future Paddy Power Betfair CEO Peter Jackson opined, "It's inevitable that some of the smaller players will wave the white flag, because they won't be able to cope with the fierce competition that's going on in the market and the introduction of the point of consumption tax. You'd expect us to look at opportunities to bolt on our businesses in Australia; we'll be very disciplined."
"I also believe there are learnings we can apply to our European operations from our success in the Australian market."
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Comments
Interesting move in a times when many gambling companies have withdrawn from the Australian market but probably Paddy Betfair seeing a bigger opportunity just because of that, in any case they look eager to enlarge their business down under.