Ladbrokes acquire Betstar
British bookmakers Ladbrokes have completed their acquisition of Australian operators Betstar for AUD$22m (£12.4m).
Founded by 38-year-old entrepreneur Alan Eskander, Betstar generated gross win of AUD$12.9m on stakes of AUD$214m for the year ending 31 March and was one of the last privately owned Australian operators.
The deal furthers Ladbrokes’ expansion into the Australian market which began with the purchase of Brisbane-based Gaming Investments for AUD$22.5m in September last year. The firm ran the Bookmaker.com.au website, on which AUD$400m in bets were laid annually. At the same time Ladbrokes launched a new Ladbrokes.com.au site.
The Betstar acquisition increases Ladbrokes’ share of the AUD$13bn Australian online betting market to around 5%.
Ladbrokes MD international Damian Cope said: “The acquisition 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.”
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