Australia's Packer and Tripp Online Gambling Joint Venture

Published Friday, December 26, 2014 -
Australia's Packer and Tripp Online Gambling Joint Venture

Australia is by far one of the more interesting jurisdictions when it comes to the online gambling industry. A recent article in Australia’s Herald Sun news has brought to light the competitive nature that the industry has displayed over the past few years. The business savvy of James Packer has been challenged with his efforts to make a profit going unrewarded from his Betfair Australia’s venture.

In response Mr.Packer has gone a step further to capture a bigger piece of the pie in the online gambling market with a new joint venture with bookie Matthew Tripp. Packer's Crown Resorts announced recently it would enter into an arrangement with Tripp's BetEasy enterprise. The aim of the deal is to compete with the international operators that offer online sports betting products.

Crown’s Betfair Australia betting exchange will join forces with BetEasy's sports book business in an all out effort to increase business which has been posting losses since it was bought in 2004. Crown purchased the remaining stake in Betfair for $10 million back in August. Crown will own sixty seven percent of the BetEasy operation in the joint venture.

Packer commented in a statement regarding the arrangement recently, "This exciting new venture will help build an Australian-owned business that can compete strongly with the largely foreign-owned competitors in our wagering industry."

Tripp will be at the helm of the joint venture who remarkably drove the expansion of Sportsbet to the point that it became saleable and was acquired by Ireland’s online gambling firm Paddy Power. Tripp turned around the slow moving BetEasy venture earlier this year and has signed 110,000 new customers as well as organized an exclusive deal with the Australian Football League. The aggressive and progressive attitude towards competition prevails in the Australian jurisdiction with joint ventures such as these.




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