Australian online sportsbetting operator considering re-brand
After investing around $244 million last March to acquire the Australian assets of William Hill, a British-headquartered sports betting giant, there are reports that the Australian online sports wagering brand, CrownBet Proprietary Limited, are now evaluating plans to rebrand the larger business as Sportingbet.
According to a report that was published in The Australian, the group first started to consider a rebrand in April, after Canadian brand The Stars Group Incorporated, which is behind the Full Tilt and PokerStars online gaming brands, amassed its majority stake in CrownBet Proprietary Limited to circa 80%.
The Australian claimed that the Chief Executive Officer for the Toronto-headquartered, The Stars Group Incorporated, had disclosed that the proposed name for CrownBet Proprietary Limited’s operations had been chosen by Matt Tripp, the boss of the Melbourne-based bookmaker, Matt Tripp. If reports are to be believed, it will help the extended antipodean operation to save around $38 million by the year 2020.
While no official comments have been issued by CrownBet Proprietary Limited, the Australian speculated that the potential new name for the brand may have been derived from Tripp’s previous involvement in Sportingbet, an Australia-facing online operator of sportsbetting platforms. Tripp played an integral role in the establishment of this business before it was sold to William Hill as part of a $606.3 million deal that was signed in 2013 deal.
The Australian also disclosed that CrownBet Proprietary Limited’s overnight acquisition of William Hill’s Australian operation has allowed CrownBet to secure the position as Australia’s third-biggest sportsbetting provider. The only two operators to have a larger market share are Tabcorp Holdings Limited, which was recently merged with Tatts Group Limited following an $8.3 billion deal, and the local Sportsbet brand of Paddy Power Betfair.