According to a report from the Australian Financial Review newspaper, British bookmaker William Hill is understood to be leading the race to acquire businessman Tom Waterhouse’s Australian betting operation.

The potential deal allegedly values TomWaterhouse.com at just under AUD$150 million ($138.3 million), which is significantly less than the AUD$660 million ($598.5 million) William Hill paid in its acquisition of Sportingbet Australia earlier this year.

Fellow UK bookmaker Ladbrokes has also been linked with a bid for TomWaterhouse.com as Waterhouse looks to sell off part of his business. The newspaper cited unnamed sources.