UK bookmaker Ladbrokes is set to acquire Melbourne-based online bookmaker Betstar in a deal worth as much as AS$25m. Betstar has an annual wagering turnover of around AS$300m.

Betstar

Ladbrokes first entered the Australian market with its 2013 AS$22.5m purchase of the Brisbane-based Gaming Investments, which ran the bookmaker.com.au site.

Acquiring Betstar, which is run by Alan Eskander, who founded the business with his bookmaker father Michael in 2007, means that Ladbrokes will have a five per cent share of the AS$13bn Australian online betting market.