Skip to main content

Centrebet up for sale

It may not be Bwin after all, as I predicted a few weeks ago, but the news is out in Australia that several different UK suitors are sniffing around the pioneer of online sports betting, Centrebet.

Centrebet rockets on takeover talks

SHARE investors piled into Centrebet yesterday as three British gaming companies loomed as potential bidders to take over the listed online wagering and gaming company.

...

Analysts said Centrebet -- which is 60 per cent owned by the family of its chief executive, Con Kafataris -- was a good fit for foreign companies wanting to get a stake in the Australian market ahead of expected deregulation.

British operators Ladbrokes, William Hill and Sportingbet are the reported overseas suitors for Centrebet and some analysts believe the takeover price could reach $2 a share.

The Productivity Commission recently recommended a swag of reforms thought to be favourable for growth in online sportsbooks and casinos in Australia.



The Australian market is undergoing major reform, the likes of Betfair, Paddy Power and Sportingbet are already out there, and there are several more to come. Most of the owners/founders of existing Australian firms - IASBet (Mark Read - sold to Sportsbet/Paddy Power), Centrebet (Con Kafataris), BetChoice (Colin Tidy), BetStar (Michael Eskander), TopSport (Lloyd Merlehan) are all on the far side of 50 and all willing to sell if the price is right. Don't expect this to be the last sale in Australia.

Centrebet have been around for a long time and have a geographical distribution of clients better than most bookmakers. It would have been top of that category 3-4 years ago, but BWin and Bet365 have probably usurped them there.

Comments

Popular posts from this blog

It's all gone Pete Tong at Betfair!

The Christmas Hurdle from Leopardstown, a good Grade 2 race during the holiday period. But now it will go into history as the race which brought Betfair down. Over £21m at odds of 29 available on Voler La Vedette in-running - that's a potential liability of over £500m. You might think that's a bit suspicious, something's fishy, especially with the horse starting at a Betfair SP of 2.96. Well, this wasn't a horse being stopped by a jockey either - the bloody horse won! Look at what was matched at 29. Split that in half and multiply by 28 for the actual liability for the layer(s). (Matched amounts always shown as double the backers' stake, never counts the layers' risk). There's no way a Betfair client would have £600m+ in their account. Maybe £20 or even £50m from the massive syndicates who regard(ed) Betfair as safer than any bank, but not £600m. So the error has to be something technical. However, rumour has it, a helpdesk reply (not gospel, natur

What shits me about match-fixing 'journalism'.

The anti-wagering media bandwagon has dozens of new members this week, all weighing in an industry they have absolutely no idea about. I'm all for getting the betting industry into the mainstream but it shits me no end when they roll out reports and celebrities who simply don't have a clue what they are talking about and don't bother to check basic facts which key arguments in their story. If this was the financial industry, making errors like this would have them in all sorts of trouble, but the same level of regulation doesn't apply because finance stock markets are supposedly all legitimate and serious, whereas sports betting is just a bit of fun for people who can never win in the long-term... according to the media. This week we have seen the sting by the Telegraph which, on the face of it, looks to be a tremendous piece of investigative work into fixing in English football. But the headlines around it are over-sensationalised yet again. Delroy Facey, a former pla

The Cup review

James McDonald feels the emotion of winning the Melbourne Cup on Verry Elleegant. (photo credit Darrian Traynor/Getty Images) With every man and his dog doing Cup previews these days, perhaps a postmortem of the race provides more value - at least for these more serious about the game or want something to refer back to in 363 days' time. It was great to see Flemington basking in the warm spring sun, with no threat of rain which buggers up the confidence you have in the state of the track, an integral part of betting on horses. The crowd was back, at least about 10% of the normal Cup day crowd, but 10,000 more than were allowed last year. Let us never have to deal with these restrictions again in our lifetimes. The TV coverage - well, um, ugh. On Derby Day, I was able to watch the racing.com stream in the UK while Sky Sports Racing kept to their normal NSW-controlled Sky Racing Aus coverage which denies that Victoria and South Australia exist. For Cup Day, they switched to the Chann