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Published 12 August 2013 11:56, Updated 13 August 2013 07:27
Tom Waterhouse is selling his business for $34 million to British bookmakers William Hill. Photo: Sahlan Hayes
The complicated family structure behind tomwaterhouse.com got a little more complex in preparation for the $34 million sale of the online bookmaking business to British giant William Hill.
The biggest beneficiary of the sale is widely considered to be Tom Waterhouse himself, but BRW has been sceptical of this for some time.
While the business is named after and headed by 31-year-old Tom Waterhouse, members of his family appear to hold most of the shares.
Documents lodged with ASIC show that there are six classes of shares in tomwaterhouse.com.
Until the day before the sale, Louise Waterhouse held two-thirds of the A, B and C classes while Tom Waterhouse had a third.
According to her LinkedIn page, Louise Waterhouse is involved in consular affairs for the Kingdom of Tonga. Louise is Tom’s aunt and the sister of Tom’s father, Robbie Waterhouse.
Robbie Waterhouse, who is married to successful horse trainer Gai Waterhouse, is a controversial figure in racing. He was barred from holding a bookmakers’ licence for his involvement in the 1984 Fine Cotton affair. The ban was lifted in August 2001.
According to documents lodged with ASIC, Louise’s stake has been transferred to Bill Waterhouse, Tom’s grandfather and the father of Robbie.
Bill Waterhouse is 91 years old.
The transfer occurred on August 8, the day before Australian media first reported completion of the William Hill sale.
Other ASIC documents show that private companies Wunderkid and Torolo, jointly owned by Robbie, Louise and Tom, handed over their D and E class shares in December last year to Tom and Bill.