SPORTINGBET, the UK gaming group that has been earmarked as a potential target for Ladbrokes, has been given the all clear to buy Australian listed bookmaker Centrebet.
The Federal Court of Australia’s should close by the end of this month. It will then operate as a wholly-owned subsidiary of Sbet Australia Pty.
Centrebet shares are expected to be suspended on the Australian Securities Exchange today before being completely removed on completion of the takeover.
Sportingbet is also in exclusive talks regarding the possible sale of its Turkish business to rival GVC Holdings.
Analysts have interpreted the possible sale as a bridge to a takeover by Ladbrokes, which has legal concerns about the unit.