Crown Resorts to Sell CrownBet stake for $117 Million

Sat, Jan 6, 2018

Crown Resorts has agreed to sell its 62 percent stake in online betting company CrownBet $117 million. The company announced that it has an agreement with a buyer described only as “an entity associated with other shareholders in CrownBet, including CrownBet management team” led by CEO Matthew Tripp.

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.

**GGBNews.com is part of the Clarion Events Group of companies (Clarion). We take your privacy seriously. By registering for this newsletter we wish to use your information on the basis of our legitimate interests to keep in contact with you about other relevant events, products and services which may be of interest to you. We will only ever use the information we collect or receive about you in accordance with our Privacy Policy. You may manage your preferences or unsubscribe at any time using the link in our emails.