Centrebet International is an online casino operator and bookmaker.  They are looking to sell out, revealing in March that they have had a number of interested parties.  The operator reviewed their holdings and found there was quite a bit they could do to consolidate their holdings and save a little money.  It is well known that many online casino operators have had a rough time in the last three years with the credit crunch.  Many have made profits, but not to the degree required, especially when running a high number of different sites.

UK group William Hill is one of the largest online casino operators in the country.  They have a number of successful holdings as well as positive revenue for the last few years.  While it is not as high as previous years they are still holding on with ease.  Even though Centrebet is far from being wiped out, the operator is recognizing a good opportunity to sell.  One interested party is William Hill.

It is known that they made more of an offer somewhere near 80m pound stg.  It is quite an offer from the company.  There is no conclusion as to whether the bid will be taken.  Right now both companies are still in negotiations and discussions.  Centrebet figures these discussions will take several months before they are completed.  Furthermore, William Hill is not in exclusive negotiations.

They have just made an offer, but that is it.  Centrebet is still able to look at other offers and reject or take any that come about.  At the moment the option of an offer is only on the table.  William Hill executives are actually in Australia at the moment to look at Centrebet’s books, which is where the company is based.  Centrebet did not make a comment regarding William Hill and their other offers.

What is known about the entire proceedings is that no final closing is imminent.  There are still too many interested parties such as Ladbrokes.  Ladbrokes unfortunately has had some turmoil in the company.  It is unclear whether the recent changes will affect their ability to bid and gain Centrebet should they decide to join the race.  Ladbrokes has recently gained a tax refund, but with that announcement they also replaced the CEO with Richard Glynn.  It will take time for the company to get used to a new operator, thus they may decide not to expand.