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Halting Hostile Takeover Bid

A hostile takeover within the online casino gambling industry really isn’t good for anyone but the company on the hunt – in the long run though stopping the aggressive takeover of smaller companies can mean a healthy amount of competition in the market and less of a monopoly by a single gambling company. The Australian online casino gambling industry is one of those gray areas right now – there is no telling how far this market will continue to open before the government puts a halt to the expansions of the land and online sportsbetting industries. For Sportbet though, the company took a keen interest in stopping Centrebet from making good on attempts of a hostile takeover from International All Sports (IAS).

There has been a lot of movement within the Australian sportsbetting market over the past year with more and more foreign online casino betting companies entering the market and now vying for the attention of Aussie punters. The latest deal would have seen Centrebet purchasing a controlling stake in IAS (more than 50 percent) by buying off some of the current shareholders. There has been a lot of debate on this issue for a bit of time now but there was little resolution in site until Sportsbet stepped into the situation and purchased a 12.34 percent stake in IAS.

That stake in IAS will now give Sportsbet a modicum of control over IAS, a company based out of Darwin and specifically dealing within the Australian online casino gambling industry. With Sportsbet’s involvement in share purchase Centrebet has called off the takeover plans.