Centrebet International Ltd (ASX:CIL) to receive $132 million takeover offer from British bookie

Company News

Online gambling operator Centrebet International Ltd (ASX:CIL) has reportedly received a $132 million takeover offer from British bookmaker William Hill.

British newspaper The Sunday Times has reported that William Hill is poised to make the offer, although it is not thought to be in exclusive negotiations with Centrebet.

Representatives from the company are believed to be in Australia running the numbers over Centrebet’s books.

William Hill has expressed a desire to expand offshore by increasing its online presence rather than opening a chain of betting shops.

Centrebet revealed in March that it had received a number of acquisition offers as part of a review of consolidation opportunities, both as an acquirer and a target.

The company says no agreements have yet been reached and discussions could take several months.

William Hill’s British rival, Ladbrokes, is also believed to be in the bidding race for Centrebet.

Austrian online gaming platform Bwin is also thought to be interested.

Centrebet International posted a profit of $8.32 million for the 2009 financial year.