31st of August 2011 Author: Glo Wood
Necessary approvals given
A report arrived on Aug. 31 that the acquisition of a major Aussie online betting operator Centrebet has been completed, and that the company is now a wholly-owned subsidiary of Sportingbet, turning it into the biggest operator in the Australian market.
The finalization came after the necessary approvals were given by Centrebet shareholders and the Federal Court of Australia, and after the suspension and delisting of Centrebet's shares from the Australian Securities Exchange today.
According to Andrew McIver, Chief Executive Officer of Sportingbet, "We are delighted to have completed the acquisition of Centrebet which means we are now the leading bookmaker in Australia, a fast growing, regulated market.
'This transaction highlights the Sportingbet Group's strategy of increasing its proportion of revenue generated from regulated markets and of geographic diversification."
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