Paddy's buy into Aussie market
Hopefully they continue their great offers, made over $1k from them in April
Paddy Power buys Sportsbet for $200m
14th May 2009, 16:45 WST
Irish betting giant Paddy Power will purchase Australian bookmaker Sportsbet in a deal worth more than $200 million over three years.
Paddy Power will initially acquire a 51 per cent stake in the bookmaker, which has operated in Australia since 1993.
Sportsbet’s main source of revenue is online gambling, and the company has more than 260,000 registered members.
Paddy Power is best known in Australia for its novel approach to gaming, such as when called for punters in 2008 to bet on the name of Keith Urban and Nicole Kidman’s then unborn child.
Sportsbet chief executive Matthew Tripp said he was pleased with the Irish takeover because it gave the company greater access to international events.
“This is a great opportunity for our valued customers,” Mr Tripp said.
“Now our members will access a broader range of products, including more bet types on more sports.”
Time to signup to Sportsbet before its too late?