17 July 2014
Clifford Chance advises on settlement of Tom Waterhouse sale to William Hill and CEO appointment
After advising the Waterhouse family on the sale of the Tomwaterhouse.com business to William Hill in August 2013, international law firm Clifford Chance has now advised on the settlement of that sale's earn-out arrangements.
The firm has also advised Tom Waterhouse on his appointment as CEO of William Hill Australia, which includes the Sportingbet, Centrebet and Tomwaterhouse.com business and brands.
Tomwaterhouse.com was established in 2010 and was one of Australia’s fastest growing wagering and sports betting businesses, led by its then managing director Tom Waterhouse.
The Waterhouse name has been synonymous with betting and racing in Australia for more than a century. Tom Waterhouse himself is a fourth-generation bookmaker and a member of Australia’s most famous racing family.
William Hill is one of the world's leading betting and gaming companies, employing more than 17,000 people. Founded in 1934, it is now the UK's largest bookmaker with around 2,400 licensed betting offices and is a member of the FTSE100.
"We are very pleased to have again assisted the Waterhouse family on the successful conclusion of the William Hill transaction and on Tom Waterhouse's appointment as CEO of William Hill's Australian operations," said Clifford Chance partner Lance Sacks, who led the team. Lance was assisted by counsel Amelia Horvath and associate Marcus Ap.