Selected Deals

Other Consumer Services

  • Target
    Sportsbet Pty Limited
  • Our Role
    Advisor to buyer
  • Seller and Location
    Private shareholders of Sportsbet Pty Limited, Australia
  • Activity
    Licensed sports bookmaker
  • Acquiror / Investors and Location
    Paddy Power PLC, Ireland
  • Activity
    Online betting and gaming services in Ireland and the UK
  • Description of Transaction
    Retained by Paddy Power PLC to assist in implementing its market entry strategy into Australia following the change in legislation to allow internet advertising in the betting and gaming sector. Discussions were initiated with the shareholders of one of Australia┬┤s leading corporate bookmakers, Sportsbet Pty Limited. After lengthy negotiations, the parties agreed on an up front payment for 51% of Sportsbet and an earnout payment over three-four years based on future profitability. The total transaction value was US$42 million.