Sport is made for betting

This news is a few days old now but with Blogger down for a couple of days last week, I couldn't post it... Betsson acquires Betsafe in €60m deal B etsson has acquired fellow Nordic operator Betsafe in a deal valuing the company at up to €60m (£52.2m). “This deal will fuel our growth,” said Betsson chief executive Pontus Lindwall (pictured). “We strengthen our position in the Nordic region as well as our organisation when merging two profitable companies, each of which has proven its ability to gain market share in a highly competitive market environment.” Betsson will pay an initial €32.5m in cash and shares for the privately owned operator, with a further €27.5m payable conditional on “the development of the acquisition and the integration thereof during 2011,” said the Stockholm-listed company in a statement this morning. The full additional purchase price becoming payable would equate to a multiple of approximately 5-6 times Betsafe's EBIT for 2011. Interesting m...

After initially buying a majority share of leading Australian bookmaker Sportsbet, the successful Irish firm has decided to acquire the remaining shares and take full control. Paddy Power to buy out Sportsbet Irish bookmaker Paddy Power has agreed to buy the remaining shares in Australian betting company Sportsbet, giving it full control of the group. Paddy Power will pay 132.6m Australian dollars ($133m; £86.2m) for the 39.2% stake that it does not already own. Paddy Power first bought 51% of Sportsbet in 2009. The overall buyout, which increases its exposure to online betting in Australia, is expected to complete by the end of February 2011. . . Patrick Kennedy, Paddy Power's chief executive, described Sportsbet as "a cracking business".

Recent British press speculation suggested it was almost a done deal but the competition to buy Centrebet looks hotter than ever. William Hill are not the only ones trying to buy Centrebet, and rumour has it they are more than just 'tyre-kicking' several other potential targets Down Under. There are several Australian corporate bookmakers courting potential buyers at the moment and the Leeds-based firm will be at the top of any list for vendors. Sounds like only a matter of when, not if. Stay tuned for who Hills will be buying, and who will be taking over Centrebet, but it may not be the same deal.