William Hill to buy Brandywine as it accelerates expansion into US market

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.