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Gaming acquisition plays out on auction stage
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Gaming acquisition plays out on auction stage

auction stage

Clifford Chance has advised a company well cemented within Australia’s gaming market in the sale of its Aussie business via a competitive auction process.

Firm: Clifford Chance (William Hill)

Deal: William Hill has been advised on the sale of its Australian bookmaking business, William Hill Australia, to CrownBet.

Value: Undisclosed

Area: M&A

Key players: The team advising William Hill was led by Clifford Chance partner Lance Sacks, with assistance by counsel Amelia Horvath, associate Marcus Ap and lawyer James Kwong.

Deal significance: The sale was completed via a competitive auction process.

CrownBet is described as one of Australia’s largest gaming and entertainment groups.

Meanwhile, William Hill entered the Australian gaming market in 2013 through the $660 million acquisition of Sportingbet, Centrebet, and tomwaterhouse.com. Clifford Chance noted it had advised on both the Centrebet and tomwaterhouse.com transactions.

Clifford Chance partner Lance Sacks said the firm was delighted to advise on this latest transaction, on behalf of William Hill.

“We’re delighted to support William Hill in the sale of its Australian bookmaking business,” Mr Sacks said.

“This transaction reflects the evolution of gaming in Australia and our team is proud to be working with the leading players in the industry.”

 

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