Tripp is former head of Sportsbet
Crown Resorts, the $10 billion Australian development firm owned by James Packer, has just moved to license a new trademark, Crown Bet, leading to speculation that Packer will launch an online betting concern, according to the Sydney Morning Herald.
The government Down Under has accepted the trademark, registered after Fairfax Media reported that Packer and bookmaker Matthew Tripp are in talks to create a new online bookmaking venture.
Tripp has been called a pioneer in the multibillion-dollar online wagering business. He previously turned Sportsbet into one of the fastest-growing online-only bookies before selling it to Paddy Power. He then paid $10 million for BetEzy. According to the Herald, the renamed BetEasy “stunned the local wagering sector” recently when it became the Australian Football League’s betting partner in a deal worth $50 million.
Last August, Crown paid $10 million to buy up the remaining half of the betting exchange Betfair Australasia (it now owns 100 percent of the company). Betfair has yet to turn a profit in its market, but the company reportedly wants to monetize the popularity of fixed-odds betting.
Packer made news stateside earlier this year with plans to develop a megaresort on the Las Vegas Strip. His partner in the development at the former site of the New Frontier is Steve Wynn’s onetime resort president Andrew Pascale. The billionaire also has businesses and investments in the integrated resort and entertainment sectors in Australia, Macau and London.
