U.K.Gambling Firms Seeking Australia Market Share

Published Friday, November 24, 2017 - Online-Casinos.com
U.K.Gambling Firms Seeking Australia Market Share

As online gambling operators consolidate and acquire more market share the need to expand remains a major priority as government regulatory requirements strengthen restricting growth. The recent revelation that the icon Irish bookie Paddy Power Betfair, has had discussions with Australia’s  online gambling firm CrownBet.  

The news comes through the Reuters news source that the company which is 62 percent-owned by Crown Resorts was talking business recently. It was also confirmed that rival gambling services and product provider William Hill was in “very preliminary discussions” with CrownBet.  

The expansion plans of a number of gambling operators especially in the United Kingdom has been pushed to the forefront with the British government outlining proposals to cut the maximum stake on gambling machines in betting shops. It is obvious that some U.K. gambling operators are looking to grow to offset potential losses when the stronger regulations affect the bottom line.

The Australian gambling market has already gone through some major overhauls and is ready for a challenge from U.K. operators. Paddy Power Betfair has interests in Australia via its Sportsbet offering.

All is not well for William Hill, which entered the jurisdiction four years ago when it bought Sportingbet and tomwaterhouse.com which has struggled to gain traction with losses revealed recently.

Crown Resorts is Australia’s largest casino operator facing increased stiff competition from online offerings. Crown Resorts officials have confirmed that the firm was “in discussions concerning its interest in CrownBet. ” Media sources are staying on the consolidation story after a $4.7 billion takeover last year of lottery owner Tatts Group by horse race betting giant Tabcorp Holding. The stock market has been affected by the news with shares in Crown Resorts falling 0.6 percent on Friday.  Paddy Power Betfair shares went up 3.8 percent on the London exchange trade while William Hill shares were down 1 percent.

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