TORONTO - The Stars Group Inc. has acquired majority ownership of Australia's CrownBet Holdings Pty Ltd., which operates a regulated sports betting market.
The Toronto-based gaming company said Tuesday it paid US$117.7 million cash to acquire 62 per cent of CrownBet's equity from Crown Resorts Ltd.
CrownBet's founder, Matthew Tripp, will remain as chief executive officer and continue to operate the business in Australia.
Stars Group — formerly known as Amaya and based in Montreal — has a number of gaming and betting operations including PokerStars and Full Tilt.
Companies in this story: (TSX:TSGI)