Crown Resorts is selling its 62 percent stake in online betting company CrownBet stake for $117 million and announced that it has entered into agreement with a buyer who Crown Resorts described only as “an entity associated with other shareholders in CrownBet, including CrownBet management team” led by CEO Matthew Tripp, according to a report at CalvinAyre.com.
The deal is still subject to the buyer “arranging satisfactory financing.” Crown said it expects the transaction to be completed by February 2018.
Crown said in November that it had been in talks of selling its CrownBet stake after reports said that both British bookmaker William Hill and Dublin-based Paddy Power Betfair were interested in the company.
