Tag Archives: Crownbet

M&A movements see The Stars Group increase debt capacity

Toronto TSX-listed online gambling firm The Stars Group Inc, has secured a repricing of its $/€ ‘first lien’ debt notes, combined with a further extension of its corporate revolving credit facility. In 2017, the Stars Group governance used approximately $95 million of its available debt capacity to repay its higher-cost $ ‘second lien’ corporate debt notes. Updating investors, the Toronto …

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The Stars Group hits revenue & earnings high notes ahead of 2018 enlargement

Publishing its full-year 2017 results (period ending 31 December), Toronto TSX-listed The Stars Group Inc declares a year of transformative change and evolution for its services and operations. The TSX online gambling group sustains double-digit growth across its core metrics and KPIs, with Stars Group further strengthening its product diversification and international growth strategy. In 2017, Stars Group corporate revenues …

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On a Tripp… Ashkenazi tasks CrownBet with delivering Australian gold

Toronto TSX-listed The Stars Group Inc has perhaps undertaken the industry’s boldest investment of 2018, expanding its global footprint within a drastically altered Australian online betting market. Yesterday Stars Group Chief Executive Rafi Ashkenazi confirmed that his firm would increase its recently acquired majority stake in CrownBet Holdings, from 62% to 80%. March 2018, has delivered a widespread change to …

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The Stars Group moves to quickly expand Australian investment

Following this morning’s news that William Hill has sold its entire Australian business division to competitor CrownBet for AUS $300 million (€185 million), Toronto TSX-listed The Stars Group Inc has moved to strengthen its Australian position. Issuing a market update, Stars Group informs that it will move to increase its equity in CrownBet from 62% to 80%. On 27 February, …

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William Hill sells Australia business to CrownBet

The governance of William Hill Plc has today disclosed that it has signed a binding agreement to sell its William Hill Australia division to CrownBet for AUS $300 million (€185 million). The FTSE bookmaker had placed its William Hill Australia division under strategic review in January, as a result of the Australian government’s ban on credit betting and the likely …

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Crownbet & Paddy Power Betfair in duel for William Hill Australia

The Australian Financial Review has revealed that CrownBet and Paddy Power Betfair subsidiary Sportsbet.com.au are the two suitors bidding for William Hill Australia. Both operators are reported to have confirmed their interest this week in pursuing William Hill’s troubled Australian business division and will be allowed to perform due diligence on the asset to prepare their formal bids. The update, …

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The Stars Group gains Australian vision acquiring 62% stake in CrownBet

Updating the market, Toronto TSX-listed The Stars Group Inc has confirmed that it has acquired a majority 62% holding in Australian online betting operator CrownBet Holdings, for an aggregated sum of $117 million (€95 million). The Stars Group, acquires its controlling stake in CrownBet, from Australian casino and leisure operator Crown Resorts Limited, who had placed the online bookmaker up …

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Crown Resorts agrees to CrownBet sale

Copyright: amasterpics123 / 123RF Stock Photo

Crown resorts has announced an agreement to sell its stake in CrownBet, as part of the company’s ongoing debt reduction strategy. The Australian gaming and entertainment group is to recoup AU$150m for its 62% interest in CrownBet, together with loans advanced by it to CrownBet. In a statement released to the Australian Securities Exchange (ASX), it was detailed that a …

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Tabcorp and Tatts announce merger integration

Tabcorp Holdings and Tatts Group have announced that the combination of the two firms has been completed. A statement from the firm read: “Tabcorp Holdings Limited (Tabcorp) advises that the Scheme of Arrangement (Scheme) in relation to the combination of Tabcorp and Tatts Group Limited (Tatts) has been implemented today. Tatts is now a wholly-owned subsidiary of Tabcorp.” Adding: “Tabcorp …

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Supreme Court approval sees Tabcorp and Tatts merger set date

The long proposed merger between Tabcorp Holdings and Tatts Group has moved a further step towards completion, following approval of the scheme from the Supreme Court of Victoria. Originally announced in October of 2016, court orders have now been lodged with The Australian Securities and Investments Commission (ASIC), with the scheme now effective and a date of implementation set for …

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