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Exclusive: Paddy Power has held talks about potential deal with CrownBet - sources
November 24, 2017 / 11:18 AM / 19 days ago

Exclusive: Paddy Power has held talks about potential deal with CrownBet - sources

LONDON (Reuters) - Paddy Power Betfair (PPB.I), the FTSE 100 gambling company, has held talks to explore a possible tie-up with Australia’s CrownBet, the online betting unit of Crown Resorts, two sources familiar with the matter said on Friday.

It comes after British betting shop operator William Hill (WMH.L) confirmed on Friday that it is in “very preliminary discussions” about combining its Australian business with CrownBet, which is 62 percent owned by Crown Resorts. Paddy Power Betfair operates in Australia through its Sportsbet business.

Melbourne-based CrownBet was not immediately available for comment.

Reporting by Ben Martin; Editing by Keith Weir

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