Australia’s Crownbet Sold For A$ 150 Million

Current management team leads consortium of shareholders

According to Reuters news agency reports Friday Australian gambling giant Crown Resorts has confirmed the sale of its 62 percent interest in online division CrownBet to a consortium of shareholders led by the current management team and CEO Matt Tripp.

The consideration agreed is reportedly A$150 million (about US$ 117 million), and the deal includes prior loans from Crown to CrownBet.

Crown’s confirmation on the deal ends weeks-long speculation that CrownBet could be acquired by Paddy Power-Betfair or William Hill, both of which had expressed an interest in the company (see previous InfoPowa reports)

Crown Resorts share prices were slightly down as the news broke.

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Brian Cullingworth

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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