Online Gambling Betstar Australia Purchased by Ladbrokes

Published Wednesday, April 09, 2014 - Online-Casinos.com
Online Gambling Betstar Australia Purchased by Ladbrokes

The competitve world of online gambling  services operators is undergoing some changes with the introduction of a new tax regime in the United Kingdom. Ladbrokes the iconic English bookie is looking at expanding its empire with the recent announcement it has acquired the Australian online betting company Betstar. Reuters news reported that the firm Betstar was purchased for 12.4 million pounds.

This is not Ladbrokes first foray in Australia as the company just completed late last year the purchase of Bookmaker.com.au  owned by Gaming Investments. Ladbrokes paid AUD22.5 million (13 million pounds) for Gaming Investments. Ladbrokes is Britain's second-biggest bookmaker and feels challenged by the new regulatory platform coming to the United Kingdom’s jurisdiction. The bookmaking industry in Britian is facing a higher tax bill, both on cash-generative gambling machines in high street shops and also online betting of all sorts.

Damian Cope, Managing Director of Ladbrokes' International office commented, "Australia represents one of the most vibrant regulated sports betting markets in the world and today's announcement will see us add new customers to our growing presence,"

Betstar was established in 2007, and is an Australian Corporate Bookmaking firm that is based and established within Melbourne and Darwin. Betstar has around 40,000 registered customers and generated earnings of A$12.9 million or 74 million pounds last year ending in March. Betstar is known for their authoritativeness and as a source in many of Melbourne's newspapers about sporting & horse racing betting odds.

The competition is getting hot in Australia with other U.K. firms based in Gibraltar looking to expand their businesses in Down Under.  William Hill's online division is also involved in the lucrative online gambling market in Australia. Other operators are licensed by The Northern Territory which is recognised as the leading online betting jurisdiction in Australia, and the latest statistics show that the Northern Territory corporate bookmaking sector generated AUD5.7 billion of turnover in the year to 30 June 2013. Ladbrokes is licensed by the Norfolk Island Gaming Authority.

 

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