William Hill set to take over Stanleybet

BOOKMAKING chain Stanleybet is on the verge of being taken over by William Hill in a €750 million deal, it was reported yesterday.

The company, which has more than 50 shops in Ireland and 500 in Britain, was said to be in talks with its bigger rival, which has more than 1,600 offices. The deal would make William Hill Britain’s biggest bookmaker, overtaking Ladbrokes, which has 2,000 shops. But the deal is still likely to face competition from other parties, including Britain’s third-biggest bookie Coral and pooled betting business the Tote.

It could also spark regulatory concerns as William Hill would be left with about a quarter of the total British estate of 8,500 sites.

Stanley is not thought to have been courting buyers for the business, although reports said the company would be prepared to consider an offer if one was made.

Representatives of William Hill and Stanley Leisure were unavailable for comment yesterday.

A sale of the betting division would leave parent firm Stanley Leisure with its casino arm, which owns some of London’s leading gaming halls and 37 sites in cities including Bristol, Liverpool and Birmingham.

The deal will fuel speculation that Liverpool-based Stanley Leisure could be moving towards a merger with casino firm London Clubs International.

News of the possible betting shops acquisition comes a month after William Hill said it had put thoughts of expanding into casinos on the back burner after deciding that gambling deregulation would not offer the hoped-for benefits.

In its last financial year, covering the year to December 28, William Hill said its bookmaking division increased profits by 9% to £165 million (€240m).

That reflected a year of contrasting fortunes after favourable results at Euro 2004 were offset by wins for leading teams in the second half of the period.