WILLIAM Hill, Britain’s biggest bookmaker, is to buy American company Brandywine Bookmaking as part of its plans to establish a leading position in the US sports betting market.
The company said it had agreed to buy privately-held Brandywine Booking for $14.25m (£8.57m) in cash and would also provide a multi-million pound convertible loan as part of the takeover.
Brandywine operates in Nevada and Delaware and had revenues of $7.7m in 2010.
The Brandywine deal comes nearly a month after William Hill made its first move into the US sports betting market by buying the American Wagering (AWI) and Cal Neva businesses for a total of $39m.
William Hill added that it expected the impact of its American acquisitions to marginally enhance its earnings.
“Brandywine is a good strategic fit for AWI’s and Cal Neva’s sportsbook operations and will give William Hill a leading position in the US land-based sports betting market,” William Hill chief executive Ralph Topping said in a statement.
“This acquisition offers not only a well regarded management team and Nevada operation but also an exclusive land-based sports betting relationship with the Delaware State government,” he added.
Brandywine runs 16 sports books, employing 90 people.