Update: Will Hill-GVC Offer Refused by Sportingbet?

A report arrived over the weekend that an acquisition offer of GBP 350 million from William Hill plc and GVC plc has been turned down by online gambling group Sportingbet plc.

The companies made a joint bid of 52.5p-a-share, which will likely be discussed by the Management in Sportingbet plc full-year results report.

However, there is still room for negotiations, as stock exchange regulations prescribe that William Hill and GVC must declare a firm intention to make an offer by October 16.

It is expected that Sportingbet results will improve this year on the back of strong Australian trading. The company has 2.5 million registered customers in 200 countries, and sees more than one million bets placed every day.

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