Bookmaker CrownBet is in play

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James Packer’s Crown resorts is in talks over the future of its 62% holding in bookmaker CrownBet.

“Crown confirms that it is in discussions concerning its interest in CrownBet,” the company said in a statement.

“There is no certainty as to whether any transaction will eventuate.”

Crown, noting speculation in relation to consolidation in the online wagering industry, says it evaluates opportunities regarding its investments from time to time.

CrownBet, led by founding shareholder and CEO Matt Tripp, and competitor William Hill are reportedly in talks.

A short time ago, Crown resorts shares were down 1.7% to $12.29.

Crown in August posted a 7.5% fall in annual revenue to $3.34 billion, dragged down by fewer VIP players making big bets at Australian casinos.

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