Online bookmaker CrownBet has found a buyer in Canadian company The Stars Group after a sale was organised by share holder Matthew Tripp.
Crown Resorts had stated at the end of last year that they would be selling their 62% share in CrownBet as the company looked to divest certain parts of their business.
Matt Tripp who owns the remaining 28% of CrownBet spearheaded the search for a buyer with The Stars Group announced to purchase the bookmaker in a release to their shareholders overnight.
The Stars Group operate PokerStars and Full Tilt Poker out of Canada and are worth in excess of $5 Billion dollars.
It is understood that The Stars Group along with Matt Tripp are also one of the bidders on William Hill’s Australia operations.
CrownBet will continue to run under the current brand and still provide Crown Rewards into the immediate future with a name change possible at the end of the year.
The acquisition ties in with the likelihood that the US will legalise online sports betting.