Crown Resorts to Sell Off CrownBet Stake for $117 Million

January 1, 2018

Crown Resorts has recently entered into an agreement with an undisclosed entity that is said to be associated with Crownbet’s shareholders, including CEO Matthew Tripp, where they will sell off its 62 percent stake in CrownBet for $117 million. Nothing else has been officially been unveiled about the prospective buyer. The transaction is expected to be complete by February 2018 even though the deal which includes the loans advanced by Crown Resorts to CrownBet will still be subject to the buyer organizing financing that the seller will find satisfactory. Crown Resorts officially announced its intent to sell is CrownBet stake… Read More