United Kingdom’s top iPoker partners, Betfred and William Hill are in the middle of altering their business interests in the eastern part of the globe. Betfred has recently announced that it was withdrawing from the Australian online market. While planning to return as a licensed sportsbook under the Betfred.au domain, its casino and bingo offers are discontinued and poker will not be provided, either.
In Australia, online casino and poker are illegal since the passing of the Australian Interactive Gambling Act (IGA) in 2001, but sports betting operators are allowed to extend their online offering and online lottery ticket sale is also allowed, as Pokerfuse reports.
Accordingly, William Hill is aiming at strengthening its position in the country by purchasing a local online sportsbook company, TomWaterhouse.com for $36.5 million upfront and almost twice as much more over the course of the next two years, based on the performance of the site. This is the company’s next step after acquiring all the Sportingbet interests in the country in becoming the dominant actor in the market.
“International expansion is a key part of William Hill’s growth strategy and making Australia our second home is our priority. 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,” William Hill CEO Ralph Topping said.
In the meantime, the company has announced that they were withdrawing all their online betting and gambling offers from China, effective 19 August. While players’ balances remain accessible and they can initiate withdrawals, no gaming feature will be provided. William Hill cited regulatory reasons behind their decision:
“We sincerely apologise for any inconvenience this may cause you; however this decision has been taken for regulatory reasons beyond our control,” the company mailed its affiliates.
In Australia, online casino and poker are illegal since the passing of the Australian Interactive Gambling Act (IGA) in 2001, but sports betting operators are allowed to extend their online offering and online lottery ticket sale is also allowed, as Pokerfuse reports.
Accordingly, William Hill is aiming at strengthening its position in the country by purchasing a local online sportsbook company, TomWaterhouse.com for $36.5 million upfront and almost twice as much more over the course of the next two years, based on the performance of the site. This is the company’s next step after acquiring all the Sportingbet interests in the country in becoming the dominant actor in the market.
“International expansion is a key part of William Hill’s growth strategy and making Australia our second home is our priority. 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,” William Hill CEO Ralph Topping said.
In the meantime, the company has announced that they were withdrawing all their online betting and gambling offers from China, effective 19 August. While players’ balances remain accessible and they can initiate withdrawals, no gaming feature will be provided. William Hill cited regulatory reasons behind their decision:
“We sincerely apologise for any inconvenience this may cause you; however this decision has been taken for regulatory reasons beyond our control,” the company mailed its affiliates.
