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Does Crown Resorts intend to sell Crownbet to William Hill?

25 Nov 2017

Last days there are a lot of speculations about the Australian casino operator, Crown Resorts intention to sell 62% interest in CrownBet Pty Ltd (horse racing and sports betting brand). Several media insist that the giant UK bookmaker, William Hill is the predominant buyer.

After all the rumours arised, the resort operator stated at the Australian Securities Exchange: “Crown Resorts Limited notes media speculation today in relation to consolidation in the online wagering industry, including in relation to CrownBet, which is 62% owned by Crown. Crown evaluates opportunities regarding its investments from time to time. Crown confirms that it is in discussions concerning its interest in CrownBet. There is no certainty as to whether any transaction will eventuate.”

From its side, the UK bookmaker released the following statement to the Financial Times: "Following media speculation, William Hill confirms that it is in very preliminary discussions with CrownBet, the 62% owned online wagering business of Crown Resorts, regarding a possible combination of William Hill Australia, a wholly owned subsidiary of William Hill, and CrownBet. There is no certainty that these preliminary discussions will lead to any transaction."

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Does Crown Resorts intend to sell Crownbet to William Hill?

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