LBOs Look For Calmer Waters for Expansion

29/11/2017

Reuters news service reports that Paddy Power Betfair and William Hill are in talks with Australia’s CrownBet as they seek expansion opportunities outside of the UK.

Paddy Power Betfair, which runs betting shops in Britain and Ireland, has had discussions with CrownBet, the online gambling firm that is 62 percent-owned by Crown Resorts, while rival bookmaker William Hill confirmed last week that it was in “very preliminary discussions” with CrownBet about a possible combination with its Australian business.

This follows threats by the Government to cut the stake on B2 machines from £100 a spin to between £50 and £2, once the current 12-week consulation period is over.

Ladbrokes Coral , another British betting shop operator, held unsuccessful deal talks with online rival GVC this year.

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