The Stars Group inks new CrownBet Deal
Recently updated on March 5th, 2018
Last week, Crown Resorts sold their majority share in CrownBet to Canadian gaming firm, the Stars Group. This move is just one of many cost-cutting measures the company has had to make in the past year after the 2016 arrests of their Macau employees. So far, the Aussie gambling operator has had to make a lot of cutbacks.
From shareholder complaints to slot tampering allegations, Crown Resorts was in the headlines many times during 2017. Luckily, their fortunes seem to be changing with the sale of their CrownBet subsidiary and a return of VIP gamblers to their land-based casinos. The 62% stake, worth NZ$163 million, has possibly saved James Packer’s company from bankruptcy. According to the Canadian firm’s CEO, Rafi Ashkenazi, ‘CrownBet has become one of the fastest growing online sportsbooks in Australia.’

Stars Group Re-enters AU Market
The Stars Group owns and operates PokerStars and Full Tilt Poker, two of the most popular poker rooms online. However, after the Aussie Interactive Gambling Act was amended and banned online poker, these brands left the market. So, the purchase of CrownBet could be the company’s foot in the door if the ban is rescinded. Either way, they now have a chip on the table for sports betting.
The Australian sports betting industry is the second largest regulated market in the world. So, with or without poker, the Stars Group stands to make a profit in the country. All they need now is to obtain permission from gambling regulators like the Northern Territory Racing Commission for the cash transaction.
Details about the CrownBet Deal
As mentioned, the Canadian gaming operator has acquired a 62% majority share in CrownBet. This means that they will be able to appoint most of the board of directors for the company. Their controlling interest will also determine the growth of the sports book. However, it’s unclear if they will keep the brand for long. Keep visiting NZ Casinos for more about this story.
Published by Taralynn March 5, 2018 Categorie(s): Big Wins, Latest News, New Zealand, North Island, South Island
About the Author

Taralynn Engels is a seasoned casino news writer with a passion for keeping her readers up-to-date with the latest happenings in the gambling industry. With over five years of professional writing experience, Taralynn has developed a deep understanding of the casino industry and a knack for delivering engaging and informative content. Aside from her in-depth knowledge of the casino industry, Taralynn possesses excellent writing skills that allow her to craft captivating narratives that keep readers hooked until the last word. Her ability to simplify complex concepts and present them in an accessible manner guarantees that her articles are enjoyed by both seasoned casino enthusiasts and newcomers alike.
More Posts from Taralynn.
Related Posts
Published by Taralynn September 30, 2020 Categorie(s): Big Wins, Bonus Codes, Game Tournaments, Latest News, New Zealand, North Island, Promotions, South Island
Recently updated on September 30th, 2020As a brand-new casino, Wild Card City is still coming in hot with new October pokie releases and exciting offers. Almost every game offers 10 free spins if you play the game within the first month, so we recommend checking them out. After all, there’s a mix of new slots […]
Published by Mark February 18, 2019 Categorie(s): Big Wins, Bonus Codes, High Payouts, Latest News, New Zealand, North Island, Promotions, South Island
Recently updated on February 18th, 2019In October 2018, the Mega Millions Lottery in the United States saw the largest single payout jackpot in America’s history. One lucky player managed to win the US$1.5 billion (NZ$2.2 Billion) jackpot. However, the winner is yet to come forward and claim their prize. The ticket was sold in South […]
Published by Taralynn June 11, 2021 Categorie(s): Big Wins, Latest News, New Zealand, North Island, Pokies Online, South Island
Recently updated on June 11th, 2021Everybody wants to find the best advice on how to beat casino slot machines, and we don’t blame them. Unfortunately, there are some harsh truths we need to get out of the way – you will lose money playing slots. With all the negativity out of the way, let’s get […]
Published by Mark March 10, 2019 Categorie(s): Latest News, New Zealand, North Island, South Island
Recently updated on March 10th, 2019Sky City is forging ahead with their plans of an offshore-based online casino. In New Zealand, Internet casinos cannot operate directly out of the country however Kiwis are allowed to gamble online. Sky city has seen the market potential and jumped on the opportunity. Already Kiwis spend almost 400 million […]
Published by Mark January 23, 2019 Categorie(s): Latest News, New Zealand, North Island, South Island
Recently updated on January 23rd, 2019The iconic Lara Croft video game is getting its third pokie game instalment in 2019. Microgaming, in partnership with Square Enix, will be releasing Tomb Raider: Secret of the Sword pokie at the ICE Totally Gaming expo. The expo is set to take place in London, England between 5 and […]