'The Stars Group' purchase controlling share of CrownBet for $150 million

Wed, 28/02/2018 - 10:20am, admin

Big news coming out of the Australian online gambling community today as ‘The Stars Group’, an international gambling company, has agreed to purchase the controlling share of CrownBet.

The Stars Group, which owns two of the largest online poker websites in the world in PokerStars and Full Tilt Poker, will purchase 62% of CrownBet from Crown Limited for around $150 million, making them the controlling owners in the company.

CrownBet CEO Matt Trip is slated to remain in charge of the company,and has stated that the board has been looking for the right buyers for some time now.

“We scoured the globe for the best partner for the business and The Stars Group quickly became our number one target,” Tripp said.

Along with Tripp remaining in charge, the CrownBet branding is likely to stay the same for the time being, as the brand has become synonymous with Australian bookmaking, becoming one of the fastest growing online sportsbooks in the country.

The Stars Group, which holds online gambling licenses in a total of 18 countries, will look to introduce CrownBet to an American market should the laws on online gambling be loosened in the near future.

It’s widely publicised that English bookmaker William Hill’s Australian business is also up for sale, and with the backing of The Stars Group, CrownBet have now become one of the leading bidders.

"Their endorsement is a shot in the arm for our business and a sign we're tracking well in a highly competitive market."

Tips

2018 State of Origin: Game 2 Betting Tips

Game 2 of the 2018 State of Origin will take place this Sunday night from ANZ Stadium in Sydney. We preview the massive game and give our betting tips here..read more

2018 AFL: Daily Fantasy Tips for Round 14

Draftstars are offering a massive $40,000 guaranteed prize pool for the three game AFL slate this Saturday! We are back with our fantasy team of the week for the Saturday slate here..read more

2018 Formula 1: France Grand Prix Betting Tips

The 2018 Formula 1 season continues this weekend as the French GP returns to the tour for the first time in 10 years. We preview the big race from Paul Ricard Circuit and give our tips here..read more

2018 MLB Betting Tips: Thursday, 21st June

The MLB season continues this Thursday, the 21st of June with a massive 14 game slate. We preview some of the key games of the day here..read more

Articles

Best Australian Sports Betting Sites

The best Australian sports betting sites insures safe and successful online betting for punters as well as offering bonuses. read more

How Does Spread Betting Work?

Spread betting has finally made it's way to Australia through new betting agency Pointsbet, we give you a quick guide to spread betting here. read more

How to Bet on eSports in Australia

With the phenomenon of eSports finally starting to take off in Australia, we thought we'd give you a quick 'how to' guide on betting on eSports in Australia! read more

Tips for Taking Advantage of NBA Player Performance Betting

Most Australian bookmakers now offer player prop markets in the NBA, you can take advantage of a few factors that we take a closer look at in our Tips for NBA Player Performance Betting read more