Australia’s Crownbet sold for A$ 150 million

According to Reuters news agency reports Friday Australian gambling giant Crown Resorts has confirmed the sale of its 62 percent interest in online division CrownBet to a consortium of shareholders led by the current management team and CEO Matt Tripp.

The consideration agreed is reportedly A$150 million (about US$ 117 million), and the deal includes prior loans from Crown to CrownBet.

Crown’s confirmation on the deal ends weeks-long speculation that CrownBet could be acquired by Paddy Power-Betfair or William Hill, both of which had expressed an interest in the company (see previous reports)

Crown Resorts share prices were slightly down as the news broke.

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