Crown Resorts, the Australian gaming and entertainment group, and William Hill have both moved to confirm discussions have taken place, and are ongoing, regarding the formers 62% stake in CrownBet.
Speculation first came to light in The Australian, a national newspaper in the country, that ‘in depth’ talks over a potential deal were believed to have been held.
In a statement to the media Crown Resorts commented: “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.”
With William Hill offering a little more detail with its own statement in response to the media speculation, adding: “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.”
This follows news emanating from Australia earlier in the week that the Australian Competition Tribunal (ACT), had given the go ahead for a Tabcorp and Tatts Group merger for the second time.
The ongoing process, which was referred back to the ACT from the full federal court following objections made by both CrownBet and the Australian Competition and Consumer Commission (ACCT), is currently in a 28 day appeals period.
Tabcorp has stated that it hopes have the merger implemented by the close of the year.
Source: SBC News
