CrownBet, one of the leading online gambling operators, has dropped its antagonism to the anticipated merger of Tatts Group and Tabcorp holdings. In exchange, CrownBet is hoping for an increase in digital streaming rights with regards to racing coverage.
On the 31st of November, 2017, Tabcorp reported to the media that CrownBet has agreed not to apply for a judicial review of the recently approved merger of Tabcorp-Tatts. Furthermore, Tabcorp also decided that they will not be pursuing any further court proceedings after the court hearing that will take place in New South Wales. The hearing will be about the merger’s deals with hotels and clubs in the state.
Why CrownBet Decided To Drop Opposition to the Merger
Following previous events, CrownBet had expressed its opposition to the Tabcorp-Tatts merger of CAD$11 billion.
This was because they believed that if the merger went through, the new entity will enjoy a complete control in the Australian gambling industry. They will also enjoy local wagering exclusivity in all states, apart from Western Australia.
Tabcorp managed to strike a deal with CrownBet in exchange for them to drop their opposition. The deal was that they supply SKY2 and SKY1 racing content. All this would be for CrownBet’s Australian players and CrownBet would have to pay Tabcorp for these rights. However, the amount was not specified.
CrownBet’s majority stake is controlled by the Australian casino chain, Crown Resorts. Consequently, Crown Resorts has been having ‘talks’ with rival casinos with regards to its stake in CrownBet. A popular bookmarker from the UK – William Hill (whose operations in Australia have been struggling) is known to be one of the companies that Crown Reports is discussing a potential deal with.
The merger of these two leading online casino operators could only mean one thing for the players; more and better fun and entertainment. The merger will definitely benefit online casino players in many ways! As a result, at Maple Casino, we will do all we can to keep Canadian players posted on this matter.