Tom Waterhouse sells up for $34m

[The InnFORCEr]

AAP
August 9, 2013,
7:34 am

Controversial bookmaker Tom Waterhouse has sold his online betting business to British gaming company William Hill.

Mr Waterhouse will receive $34 million for the business, plus an earn-out agreement that could see him receive up to $70 million.

He will also remain managing director of the business.

William Hill earlier this year acquired Sportingbet's Australian business for $670 million.

The company's chief executive Ralph Topping said William Hill had set its sights on becoming Australia's biggest online bookmaker.

"The Sportingbet acquisition gave us a strong and proven platform with an experienced management team," he said.

"Acquiring tomwaterhouse.com gives us a rapidly growing business that appeals to a wider customer base," Mr Topping said in a statement.

Mr Waterhouse has been a source of controversy this year owing to a sponsorship deal with the NRL which prompted widespread criticism that gambling was being promoted during match TV broadcasts.

http://au.news.yahoo.com/thewest/bus...ls-up-for-34m/




Not bad for a couple of years work from young Tom. If he got $34 million, Ravi must be worth $Vshitloads

[UNCLE BOOG]

Not bad for a couple of years work from young Tom. If he got $34 million, Ravi must be worth $Vshitloads

haha.

[Alison]

Maybe he'll donate some of that $34m to a few charities who help people struggling with gambling addiction.

[jargan83]

Tom Waterhouse knows what punters want because his mum tells him

[PeterM]

Nice bit of business for the bloke