Crown set to buyout Betfair Australia?

Fairfax Media’s The Sydney Morning Herald reports Crown Limited is set to buy-out Betfair UK’s 50 percent share of Betfair Australia, a joint venture between the two companies.

Betfair is apparently keen to offload its share of a business that has been less profitable than it had initially hoped, unlike rivals Paddy Power and William Hill who have stepped up their presence in the market.

Although no official confirmation has been released by either company, Fairfax Media sources said Crown would ultimately be in a position to change the existing model to one that includes the fixed odds segment should the buy-out be successful.

Related and similar