Sweden’s Unibet Group plc has made its first move into the regulated Australian online sports betting market through the acquisition of independent bookmaker Betchoice for an initial AUD$20m.

Unibet has signed an agreement to acquire 100 per cent of Betchoice Corporation Pty Ltd, an independent bookmaker licensed in the Northern Territory which was formed by a partnership between Sydney bookmakers Colin Tidy and Mark Morrissey in 2001, originally trading under Colin Tidy's name.

“This strategic acquisition gives Unibet immediate access to the regulated Australian market, which is currently open to sports betting and horse racing,” said Henrik Tjärnström, CEO Unibet.

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