The Stars Group Inc. which provides technology-based products and services to the global gaming and interactive entertainment industries publicised the acquiring of a 62% equity interest in CrownBet Holdings Pty Limited for an aggregate amount of approximately $117.7 million, with all dollar ($) amounts in U.S. dollars.
CrownBet, which was launched in 2014 in Australia, claims to be the world’s second-largest regulated sports betting market, and one of Australia’s online sportsbooks which has grown in leap and bounds with unaudited annual revenues escalating from approximately A$76.5 million in 2015 to approximately A$204.0 million in 2017 and unaudited EBITDA turning positive for the first time in 2017 at approximately A$7.9 million for the year.
In relation, Rafi Ashkenazi, the Chief Executive Officer of The Stars Group said: “We are excited to enter the regulated Australian sportsbook market with CrownBet.” CrownBet has become one of the fastest growing online sportsbooks in Australia through its strong management team, proprietary technology, mobile app, unique partnerships and market-leading loyalty program.”
The Stars Group acquired 62% interest in CrownBet from Crown Resorts Limited (ASX: CWN) in an all-cash transaction using cash on The Stars Group’s balance sheet. The Stars Group will go hand-in-hand with other shareholders of CrownBet, including the CrownBet management team led by Founder and Chief Executive Officer, Matthew Tripp, to complete the purchase and will persist to work directly with Mr Tripp, who will retain his position and continue to operate the business in Australia. As per the transaction agreements, The Stars Group is also entitled to appoint a majority of the directors on the Board of Directors of CrownBet.
The Northern Territory Racing Commission has approved the transaction subject to The Stars Group satisfying certain standard conditions.
The Stars Group
The Stars Group is a leading provider of technology-based products and services in the global gaming and interactive entertainment industries. Through its Stars Interactive Group division, The Stars Group ultimately owns gaming and related consumer businesses and brands, including PokerStars, PokerStars Casino, BetStars, Full Tilt, and the PokerStars Players No Limit Hold’em Championship, European Poker Tour, PokerStars Caribbean Adventure, Latin American Poker Tour, Asia Pacific Poker Tour, PokerStars Festival and PokerStars MEGA STACK live poker tour and event brands.
These brands together have millions of registered customers globally and collectively form the largest poker business in the world, comprising online poker games and tournaments, sponsored live poker competitions, marketing arrangements for branded poker rooms in popular casinos in major cities around the world, and poker programming and content created for television and online audiences. The Stars Group, through certain of these brands, also offers non-poker gaming products, including casino and sportsbook.
The Stars Group, through certain of its subsidiaries, is licensed to offer under third-party licenses or approvals, its products and services in various jurisdictions throughout the world, including Europe, both within and outside of the European Union, the Americas and elsewhere. In particular, PokerStars is the world’s most licensed online gaming brand, holding licenses or related operating approvals in 17 jurisdictions.
BTG’s ‘Christmas Catch’ Slot Hits Evolution Network December 1
Is there anything more Christmassy than BTG’s Christmas Catch?
The countdown to Christmas has begun, which can mean only one thing: a new festive game from Big Time Gaming. Christmas Catch is high on volatility, even higher on tinsel, and comes stuffed with more goodies than Santa’s sack. This seasonal slot will be hitting the Evolution Network on December 1 like a Christmas pud out of a bazooka.
If all you want for Christmas is a seasonal twist on BTG’s fan favourite Golden Catch slot, then you’ve come to the right place. Christmas Catch takes the magic of the original and transplants it to a winter wonderland on Christmas Eve.
Santa’s hardworking reindeer are putting in overtime this year. With every every spin and reaction, there’s the chance of a Sleigh symbol appearing above reels two to five. Whenever winning symbols are removed, one or more Gift Bonus Prizes may appear. Gift Bonus Prizes are awarded for each Sleigh and can be worth up to 500x the bet, depending on how many symbols are on its reel.
Meanwhile, land three Golden Pudding scatters in the base game to win 10 free spins, with an additional two for every scatter beyond the third. Then it’s take-off for Rudolph and his reindeer pals. The first Sleigh sets off with a 1x Sleigh Multiplier, and with each subsequent Sleigh, the multiplier increases by 1, enhancing your Gifts Bonus Prizes as it goes.
By gathering three or more Scatters during your Free Spins, you’ll be gifted four extra Free Spins. And just like before, for every Scatter beyond the third, you’ll receive an extra two Free Spins, ensuring the festivities continue.
Meanwhile, because this is a Megaways slot, there can be up to 117,649 ways to win on each spin, which could make for some potential big wins this Christmas.
Nik Robinson, BTG CEO, said: “We love this time of year because we have a lot of momentum with our annual Christmas slot, and we have sprinkled as much festive fun as we can onto Christmas Catch. And so, on behalf of everyone at BTG, we’d like to wish all slots fans around the world, health, wealth, happiness and prosperity this Christmas season.”
Nicholas Peters, Chief Business Development Officer for Europe at Evolution said: “Christmas-themed slots are becoming a genre unto themselves, but Christmas Catch must be a contender for the best one ever. This is more than just a seasonal gimmick, it’s a seriously good game with the kind of hugely engaging gameplay we’ve come to expect from BTG.”
Tabcorp Appoints New Chief Financial Officer
Tabcorp Holdings has announced the appointment of Mark Howell as the company’s new Chief Financial Officer (CFO).
Howell is currently the general manager liquor finance and network optimisation for Coles Group Limited’s liquor business, which trades as Liquorland, Vintage Cellars and First Choice Liquor Market.
He has formerly held senior finance, strategy, business development and investor relations roles at Coles, as well as senior banking roles at Rothschild and Goldman Sachs in Australia and New York.
Adam Rytenskild, Managing Director and CEO of Tabcorp, said: “Mark is the perfect fit for Tabcorp as we deliver our transformation. He’s passionate about our growth story and dynamic in his thinking.
“Wagering is one of the most competitive industries in Australia and Mark comes from an equally competitive customer focused industry. His experience leading finance teams at Coles and working closely with investors will be invaluable moving forward.”
South Australia: Gambling Report Urges Primetime Ad Ban
South Australia has banned gambling ads on television from 4 pm to 7:30 pm, now a parliamentary inquiry has concluded Victoria should do similar.
The Public Accounts and Estimates Committee (PAEC) is urging the state government to consider stricter rules on gambling ads during primetime broadcasts and in public places.
“More appropriate regulations and safeguards are needed to protect Victorians, especially our children and young people,” Committee Chair Sarah Connolly said.
The report also urges the government to consider the impact of reducing the total number of electronic gaming machines across the state and update education resources for school students about gambling and alcohol-related harms.
“Our culture has often been described as one that tends to normalise both drinking and gambling,” Ms Connolly said.
“The Committee heard evidence to suggest that this has become more entrenched than ever, with the rise in social media and digital technology.”
Over eight months PAEC reviewed three Auditor-General’s reports relating to the regulation of gambling and liquor, and reducing the harm caused by gambling.
“Our report’s 96 findings and 61 recommendations have been informed by 54 public submissions, three days of public hearings, a Geelong site visit and a youth roundtable,” Ms Connolly said.
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