Online bookmaker pioneer Matthew Tripp will sell his remaining stake in online bookmaker BetEasy to the Stars Group.
Toronto-listed The Stars Group has entered into an agreement to take over full ownership of Australian sports betting operator BetEasy ahead of their planned merger with with Flutter Entertainment which owns Sportsbet.
The Stars Group has agreed with the minority shareholders of BetEasy to acquire the remaining 20 per cent stake in the business for AUD$151m, having acquired an 80 per cent majority stake through a series of transactions between February and April 2018.
“I’m pleased to see our long-term succession plan come to fruition,” said Tripp. “Andrew Menz brings deep commercial and regulatory experience which leaves BetEasy in a strong position to continue delivering profitable growth.
“I know that this business, which we founded back in 2013, is in very capable hands with a strong executive team and the backing of The Stars Group, who have been terrific partners and global leaders in this industry.”