Unibet announced recently that it has signed an acquisition deal with an Australian bookmaker called Betchoice Corporation Pty Ltd. It is one of the leading bookmaking firms inAustralia. A range of betting products and services are offered by Betchoice for the Australian market.
The acquisition will benefit Unibet in several ways. The firm will not only have access to the exclusive offerings of Betchoice but also get a platform to provide gambling services and help in improving the market. This is the second big deal signed by Unibet in recent months.
Betchoice to be Re-Branded Completely to Unibet
Betchoice will be rebranded to Unibet. This will be done after the transition period is over. The acquisition deal has been settled at £13.6 million. 100% shares of Betchoice Corporation Pty Ltd will be transferred to Unibet. No liabilities are involved in the deal. The acquisition proposal is yet to be approved by theNorthern Territoryregulator. The process is expected to conclude by the end of 2012.
Henrik Tjärnström Comments on the Deal
Henrik Tjärnström, Unibet’s CEO commented that the deal is a strategic move on the part of Unibet. Through the deal, Unibet will get instant access to the regulated gambling market inAustralia. It is open to horse racing and sports betting.
Betchoice holds a solid reputation in the Australian sports betting market. Unibet aims at enhancing the services and offerings of Betchoice. This will hopefully lead to revenue rise and margin improvements of the firm.
Betchoice’s co-founder, Mark Morrissey stated the company is delighted to be a part of the Unibet group. With Unibet’s market-leading products and services, the company will be able to establish a strong hold inAustralia.
Unibet to Invest on Improving Australian Product Portfolio
In the next few years, Unibet plans to invest in improving its product portfolio for the Australian market. By introducing new offerings and services, Unibet aims at establishing itself firmly in the country’s fast growing market. Techniques for risk management and a wide range of new offerings will be applied to the B2B Sportsbook division of Unibet.
Considering the strategic investments to be undertaken by Unibet in the near future, it is speculated that there will not be any significant improvement in the 2012 financial reports of the firm. It is also predicted by market watchers that the acquisition deal will not impact the proposed 2011 dividend of the firm. It will be announced along with the year-end reports of 2011.
At present, 35 officials are employed in the Betfair team. They will now be integrated by Unibet.
