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Betfair sells JV stake to become B2B supplier in Australia

13th August 2014 8:39 am GMT

UK-listed operator Betfair has sold its stake in the Betfair Australia joint venture to its partner Crown Resorts, but will remain in the market as a B2B supplier to the business.

The sale of the 50 per cent stake in Betfair Australia, which was formed in 2004 with local casino operator Crown Resorts, sees Betfair receive AUS$10m for its equity stake alongside the early repayment of loans.

Betfair has concurrently entered into [...]

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