Australian billionaire James Packer has secured control of new betting operator BetEasy through his Crown Resorts leisure enterprise.
Crown Resorts released a statement this morning confirming the tie-up between the two parties, which will see Crown Resorts own two thirds of the BetEasy enterprise. Crown Resorts controlling investment in BetEasy is set to give the leisure operator quick access into the AUS $ 13 billion online betting market.
James Packer stated that after reviewing the current Australian online betting market, Crown Resorts viewed BetEasy as providing “significant benefits and opportunities to our existing and future customers”.
“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.”
Australian business news sources had previously reported that Crown Resorts had been exploring entry into the Australian online betting market. The leisure company had secured the domain CrownBet.com.au
Both parties have begun to create a new operating company. Crown Resorts confirmed that the BetEasy brand would remain in place and that there would be no redundancies to BetEasy’s 150 staff members .
BetEasy Founder and CEO Matt Tripp commented on the creation of the joint venture “It is our firm objective to provide Australians with the best online wagering experience this country has ever seen,”