2020_8_pragmatic.gif
2020_8_pragmatic.gif
2020_8_pragmatic.gif
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine
GGA 2020 AffiliateCon
NEWS 30 November 2017

CrownBet backs down from Tabcorp Tatts action amidst Will Hill and Paddy Power discussions

By Caroline Watson
Amidst discussions between Crown Resorts and both William Hill and Paddy Power, CrownBet has now decided to drop its long-running legal action against the possible merger between sports betting giants, Tabcorp and Tatts.

Earlier today, Tabcorp announced that rival CrownBet has agreed not to oppose the company’s $4.7bn takeover offer for Tatts Group. In a statement the company said: "CrownBet no longer opposes the merger of Tabcorp and Tatts and will not interfere in any way with the implementation of the merger."

Tabcorp’s offer for the lottery owner was cleared by an Australian tribunal earlier this month and CrownBet has agreed not to apply for judicial review of the tribunal’s decision.

Last week, Crown Resorts were forced to address media speculation that it is looking to divest its 62% interest in horse racing and sports betting brand CrownBet Pty Ltd, with UK bookmaker William Hill touted by several media outlets as the buyer.

Following this news, it came to light that Paddy Power Betfair was also looking to get in on the action, holding discussions with the operator over a possible offer for the online gaming business.

Both Will Hill and Paddy Power were looking to expand their operations overseas, but as of yet there has been little information about the content of the preliminary discussions.

Under an agreement with CrownBet, Tabcorp said it will supply a digital stream of horseracing channels SKY 1 and SKY 2 to CrownBet for the personal use of its Australian wagering customers on their mobile and PC devices.

Since 2006, this is the third time, Tabcorp and Tatts have attempted a merger, in a bid to create a gambling powerhouse. Due to the influx of international sportsbetting operators, the potential merger was hoping to fend off rivals such as William Hill and Paddy Power.

The CrownBet decision now moves Tabcorp and Tatts into greener pastures, in the hopes that their legal setbacks are finally behind them.
RELATED TAGS: Online | Land-Based | Industry | Sports Betting | Mergers & Acquisitions | Legal & Regulatory | Financial
DISCUSS THIS ARTICLE
IN-DEPTH 18 February 2020
A decade to remember
READ MORE

PREMIUM CONNECTIONS
Efbet
Systems and Software
We have partnered up with deVRealm in a joint venture for the development of new gambling technology platforms. The primary ...
1xPartners
Affiliate
1xPartners is the innovative and exciting affiliate program offered by 1xBet, one of the world's leading sportsbooks and casinos. Offering ...
Newgioco Group
Systems and Software
Newgioco Group, Inc. (OTCQB:NWGI) is a premier leisure betting technology company providing regulated online and land-based gaming and sports ...
Digital Isle of Man
Legal and Jurisdictions
Digital Isle of Man is responsible for the thriving Digital sector in the Isle of Man, spanning the Island's international ...
ActiveWins
PR and Marketing
ActiveWin has ripped up the rulebook on the traditional agency prototype. Our model is based on performance - as you ...
Global Gaming Awards
Industry Awards
The Global Gaming Awards London recognise the most innovative companies and individuals of the gaming world. The Awards are powered ...
BetConstruct
Systems and Software
BetConstruct is a global award-winning technology and services provider for online and land-based gaming industry. BetConstruct's innovative and proven offerings ...
NSoft
Systems and Software
NSoft is an award - winning internationally recognized software solutions provider for betting industry. The company has more than 200 employees ...
Zimpler
Payments
Zimpler provides a complete In and Out payment solution for online services. That means we take care of identifying the ...
BBIN
Systems and Software
The Leading iGaming Software Supplier in Asia