Sportsbet and BetEasy will to operate under the one brand after it was reported in The Australian on Tuesday that BetEasy operations are set to close.
It’s a surprise announcement after all indicators were that global owners were supportive of operating both brands in Australia following the $19 billion merger between Flutter Entertainment and The Stars Group in early October. Flutter Entertainment are the owners of Sportsbet, Betfair UK, Paddy Power, TVG Network and Timeform while The Stars Group own BetEasy, as well as Sky Gaming and online poker giant PokerStars. The global effects of the Coronavirus pandemic and economic struggles experienced across all industries clearly played a hand in accelerating the decision to proceed with the merger in Australia.
Shareholders of the parent companies are yet to formally vote on the deal but is expected to proceed this week, while the Australian Competition and Consumer Commission (ACCC) gave the merger conditional approval in February.
The impact on the Australian wagering landscape is significant. The Sportsbet brand will consume BetEasy and ensure its position as the largest online sports betting platform in the country. However hundreds of jobs are set to be lost, while existing business partnerships with the likes of Sky Racing and the AFL will need to be examined.
It is believed that BetEasy staff were only informed of the decision on Tuesday, with the merger expected to be finalised in the second half of the year.
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Sportsbet and BetEasy will operate under the one brand after it was reported in The Australian on Tuesday that BetEasy operations are set to close. read more