Crown Resorts confirms BetEasy joint venture

Crown Resorts and BetEasy have confirmed their plans for a joint venture, combining BetEasy’s sports book business with the sports book business of Crown’s Betfair unit.

The venture will be 67 percent owned by Crown and 33 percent by BetEasy’s owners.

BetEasy recently beat out larger bookmakers in Australia to win the rights to be the exclusive wagering partner of the Australian Football League for the next five years. It has signed more than 110,000 new registered customers in fiscal 2015 to date.

BetEasy CEO Matthew Tripp will lead the management of the joint venture.

“This exciting new venture will help build an Australian-owned business that can compete strongly with the large foreign-owned competitors in our wagering industry,” Crown Chairman James Packer said.

Combining the businesses will provide significant benefits and allow the companies to continue to develop their technology, Packer added.

Crown also announced Tuesday that Ashok Jacob has resigned from its board of directors.

Jacob has been a director of Crown since July 2007 and has had a long association with the Packer family.

 

Latest Intelligence

Latest issue

PATA CEO sees slow recovery, but optimism for future

AGB Podcasts