James Packer expands on the new partnership with Matthew Tripp's BetEasy.
James Packer, the owner of Australia's Crown Resorts land gambling group, expanded on the company's new partnership with Matthew Tripps' online sports betting firm BetEasy this week, saying the alliance has been designed to compete with major international online betting groups that have moved into the Australian market and currently dominate it.
"This exciting new venture will help build an Australian-owned business that can compete strongly with the largely foreign-owned competitors in our wagering industry," Packer said in a statement on Tuesday.
Crown owns 67 percent of the joint venture, announced last week The JV combines BetEasy's online sports book business with that of Betfair Australasia – a loss-making online betting exchange business acquired by Crown for A$10 million earlier this year from a former UK partner.
BetEasy's internet betting-savvy owner will head the operational affairs of the JV. He is credited with building the Sportsbet business before selling it at a handsome profit to Paddy Power two years ago.
Tripp has reportedly carried out a similar revitalisation at BetEasy, buying the weak BetEzy earlier this year and rebuilding it into an enterprise that currently boasts more than 110,000 players…and recently stole an exclusive deal with the AFL under the noses of rivals.