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CrownBet to rebrand as Sportingbet after William Hill

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Photo credits: CalvinAyre.com
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Australian online sports betting operator CrownBet has bought William Hill’s Australian business and is planning to rebrand itself as Sportingbet after buying. It has to be kept in mind that The Stars Group, the Canadian parent company of online poker room PokerStars that purchased British operator Sky Betting & Gaming earlier this year, had acquired CrownBet.

First news about the future rebranding of the betting company emerged in April, when The Stars Group’s CEO, Rafi Ashkenazi, said that CrownBet Chief Matt Tripp intended to change the name of the combined CrownBet/William Hill Australia entity. According to The Stars Group estimates, the newly merged business could create gross cost synergies of about A$50 million by 2020.

British bookmaker William Hill entered the Australian gambling market in 2013 when it acquired Sportingbet’s local business, which also included the Centrebet and Tom Waterhouse brands, for £459.4 million. Early in 2018, William Hill announced that it was reviewing its Australian operations and it was considering a sale.

The sale was confirmed late in February, when CrownBet was selected as the winning bidder. Paddy Power, bet365, and Ladbrokes, too, bid for William Hill’s Australian entity. It was announced at about the same time that Canada’s The Stars Group was buying a 62 per cent stake in CrownBet from Australian casino operator Crown Resorts. It was understood several weeks later that the Canadian gambling group has increased its interest in CrownBet to 80 per cent.

While CrownBet has not confirmed yet that it would be rebranded as Sportingbet, it is believed that that name would be chosen due to Mr. Tripp’s previous involvement with the brand. The executive and his family were actually the founders of the sports betting business.

He has recently told The Australian that his father was delighted and extremely happy that the Sportingbet business was back in the family.

CrownBet’s acquisition of William Hill’s Australian business created the nation’s third-largest online sports betting operator, with Tabcorp, which recently merged its operations with rival Tatts in an A$11 billion deal, and Paddy Power’s Sportsbet being the two largest.

It is interesting to note that Sportsbet was once owned namely by Mr. Tripp and the success of the brand could, to a great extent, be attributed to his stewardship. He bought it in 2005 for A$250,000 to sell it nearly six years later to Paddy Power for the amount of A$338 million. As mentioned above, Sportsbet has meanwhile grown into one of the top operators into the highly competitive Australian sports betting field.

As mentioned, CrownBet is yet to comment on the planned rebranding of its business. The company told The Australian that it would disclose further details in due course but only after it had notified its customers about all future changes related to the major gambling operator, its branding, and its operations.

 

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Australia

SkyCity Appoints Jason Walbridge as Chief Executive Officer

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SkyCity Entertainment Group Limited has appointed Jason Walbridge as its new Chief Executive Officer.

Jason has more than two decades of senior executive public company experience in the global land-based and online gaming industries. He is currently a Strategic Advisor to global gaming and technology company Aristocrat Leisure Limited on its proposed acquisition of NeoGames S.A, and Executive Chairman of National Entertainment Network LLC, the largest amusement route operator in the US. He has been appointed to the role after an extensive international search.

SkyCity Board Chair Julian Cook said: “The Board is delighted to announce Jason’s appointment as CEO of SkyCity, and we are looking forward to the valuable contribution Jason will make to the business. Jason has extensive global experience in the land-based and online gaming industries, which will position him well to lead SkyCity through its next phases.”

Mr Walbridge said: “It will be a privilege to lead SkyCity, and I am excited to be joining the business at this time as SkyCity looks to pursue the many opportunities ahead of it.”

Mr Walbridge is expected to start in early July 2024, following his move back to New Zealand.

Prior to his current roles, Mr Walbridge held roles with the online gaming supplier NYX Gaming Group Limited and its acquirer Light & Wonder Inc, and before that he spent 18 years with Aristocrat Leisure Limited where he held executive leadership roles in New Zealand and the US. Previously, he held senior roles within consulting, including with Ernst & Young, and was an Officer in the New Zealand Defence Force. Mr Walbridge holds an MBA in International Management from the Auckland Institute of Studies.

Mr Cook confirmed that Callum Mallett will continue as Interim Chief Executive Officer until Mr Walbridge’s commencement date.

“I’d like to thank Callum for his continued leadership and his support during this period,” Mr Cook said.

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Australia

VGCCC Fines BlueBet AU$50,000 for Gambling Advertising Breaches

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BlueBet has been fined AU$50,000 by the Victorian Gambling and Casino Control Commission (VGCCC) for breaching gambling advertising regulations.

The company was found guilty of 43 charges related to displaying gambling advertisements on or above public roads, contravening the Gambling Regulation Act 2003.

The charges stemmed from an investigation initiated by VGCCC, following a complaint from a member of the public. The breaches occurred over a two-week period in August and September 2022, with BlueBet’s gambling advertisements appearing on digital billboards at various locations, including Point Cook, Laverton, Rockbank and Ravenhall.

Magistrate Greg Thomas, overseeing the case, expressed scepticism about BlueBet’s defence that it was unaware of the breaches, given the strategic placement of the billboards to target males aged 15-54 years old. While no conviction was recorded, Magistrate Thomas noted the high degree of negligence exhibited by BlueBet.

VGCCC CEO Annette Kimmitt AM said: “Gambling advertising has no place on public roads where it is readily visible to children and other vulnerable groups. These places are especially difficult to avoid as part of day-to-day activities. This decision sends a clear message to wagering providers that flout these protections for our community.”

Although Magistrate Thomas considered imposing a higher fine and recording a conviction, he took into account BlueBet’s guilty plea, cooperation with VGCCC and measures taken to prevent future breaches. BlueBet has implemented changes to prevent similar incidents and has cooperated with VGCCC throughout the process.

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Australia

VGCCC Introduces New Rules for Wagering Account Statements

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The Victorian Gambling and Casino Control Commission (VGCCC) has introduced new standards for how activity statements should be presented to wagering account holders. The new standards require providers to use plain English and avoid unnecessary vocabulary. The use of colours is limited to black and red to represent losses.

The VGCCC took the measure after finding inconsistencies in the way information was displayed on sample activity statements across different providers. Account holders must be able to see how much of their own money they have lost, with free and bonus bets excluded from the net loss figures. Net wins must be shown with stakes deducted. The gambling harm taglines that appear at the end of wagering ads must be displayed on each statement.

The new standards came into force on April 1. Failure to comply could result in a penalty of 60 penalty units, equivalent to AU$11,538.60 for each non-compliant activity statement issued.

VGCCC CEO Annette Kimmitt AM said: “The days of inconsistent player activity statements are over. Wagering account holders will be better informed about their spending – and therefore better equipped to make informed decisions about their gambling – thanks to the clarity and fairness these changes bring.”

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