iGaming Business – Bookmaker Ladbrokes has completed the acquisition of Australian private bookmaking business Betstar in a deal worth £12.4 million (€15 million/$20.7 million).
Ladbrokes said the deal would allow it to add an existing and complementary client base, as well as accelerate the growth of its Australian business.
Betstar has approximately 40,000 registered customers and generated gross win of A$12.9 million in A$214 million amounts staked during the year to March 31, 2014.
The Betstar brand will be maintained under the terms of the deal.
The acquisition is the latest attempt by Ladbrokes to strengthen its Australian business, following the purchase last year of Bookmaker.com.au and the launch of Ladbrokes.au in the country, as reported by iGaming Business.
Damian Cope, managing director of Ladbrokes International, 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.”
