Wednesday March 19,2014 : AUSSIE LAND CASINO OPERATOR IN BETFAIR TAKEOVER?
Crown Resorts wants sole ownership of Betfair's Australian operation.
Australian land casino operator Crown Resorts, which is currently Betfair's equal partner in its Australian enterprise, has indicated that it is interested in taking full ownership by boosting its shareholding from 50 percent to 100 percent, according to a report in the Sydney Morning Herald newspaper.
If successful, the move would give Crown full control of Betfair's Tasmanian bookmaking license.
The newspaper reports that according to unidentified sources the UK parent of Betfair Australia is disappointed in the performance of its Aussie division and is consequently prepared to sell its half of the business.
Both companies declined to comment on the possibility of a takeover when approached by the newspaper.