Crown Bet James Packer's new betting venture? - 4th
Packer has been in talks with Matthew Tripp over a
new online bookmaking venture. Photo: Darrian Traynor
Packer's Crown Resorts has secured a new betting trademark,
fuelling speculation that a tie-up with bookmaker
Matthew Tripp will be revealed soon.
legal and insurance department within the $10 billion
company's Melbourne casino moved to lock in a trademark
over Crown Bet last month.
lodgement in early November the government trade mark
office IP Australia accepted the trademark on December
1. It will now go through an advertising period that
allows for other companies to query or oppose the
the trademark may be used for general casino operations
or promotions it comes after Fairfax Media revealed
that Mr Tripp and Mr Packer were in talks to create
a new online bookmaking venture.
Tripp's new outfit BetEasy stunned the local wagering
week when it emerged as the AFL's new betting partner
in a deal said to cost $50 million over five years.
40-year-old, who made his final appearance on the
BRW Young Rich list this year with a fortune of $117
million, has form in building online betting shops.
turned Sportsbet into one of the fastest-growing online-only
bookies before selling it to Irish wagering giant
Paddy Power. After a period of enforced leave following
the sale of his final stake to Paddy Power in 2011,
Tripp paid $10 million for the assets of troubled
operator BetEzy earlier this year. He renamed
the outfit BetEasy.
its part Crown paid $10 million to buy the half of
betting exchange Betfair that it did not already own
in August. Although Betfair's exchange model is popular,
it is yet to make sustainable profits here.
Packer's Crown has yet to explain its strategy for
Betfair, but it is understood the company wants to
tap into the growing popularity of fixed odds betting.
spokesman for Crown declined to comment on the new
trademark or the potential deal. Mr Tripp could not
be reached for comment.