Update: William Hill to Acquire Australian Bookmaker?

Reports of William Hill acquiring Australian bookmaker Tom Waterhouse came in late Thursday and confirmed that a deal is indeed in the works.

An announcement is expected to be made on Friday regarding the A$30 million sale. Will Hill CEO Ralph Topping working out the terms of the agreement in Australia. This would strengthen Will Hill's presence in the Australian market especially after its acquisition of Sportingbet's Australian business earlier this year.

Analysts have already predicted that this acquisition would boost Will Hill's Australian online market share to approximately 25% exceeding that of Paddy Power's Sportsbet brand.

Tomwaterhouse.com initially launched in 2010 by Aussie bookmaker Tom Waterhouse who gained popularity during his appearances as an Australian sports commentator on TV providing.

Analysts have also determined that Tom Waterhouse holds 5% of the online players in Australia and would appeal to the masses as opposed to Will Hill's current appeal to punters interested in horseracing and high-rollers.

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