Earlier this year, leading UK bookmaker William Hill acquired Australian online wagering operator Sportingbet for $670 million. However, the CEO of William Hill UK, Ralph Topping, prefers not to use the “Sportingbet” trade name, as this could create confusion in the Australian wagering market. Hill’s closest competitor Paddy Power carries a similar sounding brand called “Sportsbet”.
CEO Topping intends to unify all subsidiaries under the William Hill trade name, including that of Sportingbet’s auxiliary agency Centrebet. The Chief Executive believes that doing so, would increase the company’s potential for becoming the strongest brand in Australia’s sports betting industry.
Mr. Topping further disclosed that he also assessed current industry conditions, to which he had observed that most local wagering companies like Tatts and Tabcorp are currently “struggling with their multi-channel offering”. Such conditions therefore would be advantageous for Hill’s Australian operation, as this would allow the company to gain an edge over its rivals.
Although the matter of dropping the “Sportingbet” and “Centrebet” brand names still requires the review and approval of Hill’s board of directors, Mr. Topping is confident that the board members will agree with his recommendation.
Another online sports betting operation recently purchased by William Hill in Australia, is the betting website of controversial bookmaker Tom Waterhouse. The Aussie bookmaker’s trade name will remain unchanged until after December 2015. This is in view of the deal negotiated between Hill and Waterhouse, which includes an agreement that as much as $70 million in revenues earned by the betting site through 2015, will go to the latter.
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