iGaming Business – Betfair has sold its 50% stake in Betfair Australia to casino operator Crown Resorts, the web gaming company’s partner within the joint venture.
Formed in 2004 by Betfair and Crown, Betfair Australia offers various services to players within the Australasia region.
Earlier this year, iGaming Business reported that Crown was set to finish a buy-out of the business.
Under the now-confirmed agreement, Betfair will continue to supply Crown with its betting exchange in Australasia under a brand new business-to-business model.
The online gambling firm will even receive a share of revenues generated by the change in markets throughout the region.
Customers of Betfair and Crown may also continue to profit from pooled liquidity arrangements.
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