Tom Waterhouse Sells Betting Firm to William Hill

Tom Waterhouse has sold his online betting firm to William Hill for $34m.

Waterhouse could also gain an earn-out agreement of up to $70m as a part of the deal.

William Hill, discount the British gaming company, sale purchased Sportingbet’s Australian business for $670m earlier in the year.

Ralph Topping, William Hill CEO said: “The Sportingbet acquisition gave us a strong and proven platform with an experienced management team.

“Acquiring tomwaterhouse.com gives us a rapidly growing business that appeals to a wider customer base.”

Waterhouse will remain as the Managing Director of the business despite the sale.

He has found himself at the centre of a sponsorship controversy, after a deal with the National Rugby League (NRL) which prompted critics to say gambling was being promoted during match TV broadcasts.