Betfair Online Casino Stake Sold

betfair

Betfair online Casino sells stake in Australian venture to Crown

Betfair sells stake in Australian venture to Crown. Betfair online casino has sold its 50% stake in Betfair Australia to casino operator Crown Resorts, the online gaming company's partner in the joint venture.

Formed as a partnership in 2004 by Betfair and Crown, Betfair Australia is now under full ownership by Crown who paid US$9.3 for the buyout.

Although no longer in control under the new agreement Betfair will continue to provide Crown with its betting exchange services and will also receive a percentage share of revenues in exchange for offering it's exchange platform. Such a business collaboration can only benefit their customers.

Betfair received AUS$10 million (€7 million/$9.3 million) in return for its stake and Betfair Australia repaid Belfair’s shareholder loan earlier than anticpated.

Betfair CEO, Breon Corcoran stated:

“We are pleased to have signed a long-term agreement that facilitates Betfair's continued participation in the fast growing, licensed Australian market alongside a partner with a strong local presence.

This represents an extension of Betfair's B2B operations and is a new and profitable operating model for the exchange.”

Top Offshore Sportsbooks

Bovada Sports Review
5 / 5
TOTAL SCORE
Bovada sportsbook with a $750 Bonus offer for new players is equipped with the experience and skill to quickly become the industry's powerhouse brand and the most relied on.
18+T&C's apply
18 +. Terms & conditions apply
BetNow Review
5 / 5
TOTAL SCORE
Jooin the BetNow.eu sportsbook and score a 100% first deposit with promo code: BN100. This excellent Sportsbook provides 24/7 online betting with customer service to match.
18+T&C's apply
18+. Full T&C's apply.
MyBookie.ag Sportsbook Review
5 / 5
TOTAL SCORE
MyBookie Sportsbook - Enjoy a VIP online betting experience with up to $1000 First Deposit Bonus + $10 Casino Chip. Excellent customer reviews. 24/7 Support, Fast Payouts.
18+T&C's apply
18+. Full T&C's apply.
BetOnline Sportsbook Review
5 / 5
TOTAL SCORE
BetOnline.ag offers the latest betting technology with exciting promotions like their Lifetime 25% Bonus Guarantee with up to $250 in freeplays on EVERY deposit you make - 24/7/365!
18+T&C's apply
18+. Full T&C's apply.
Betfair Online Casino Stake Sold 1

offshoresports

 admin@offshoresportsbookfact.net

Relevant news