Crown takes full ownership of Betfair Australasia

    James Packer’s Crown Resorts has paid $10 million to acquire the remaining 50 percent of betting firm Betfair Australasia from co-owner Betfair Group. Betfair Australasia was established in 2004 as a joint venture between Betfair Group and Crown. The business employs 100 people at its operations center in Hobart and has its corporate headquarters in Melbourne. According to Crown’s annual report, the business made a $1.8 million loss in H1 2014. The company has four directors currently, two for each of the 50:50 shareholders – Anthony Klok, chairman, and Rowen Craigie, CEO and managing director of Crown; and Breon Corcoran, CEO Betfair Group, and Mark Brooker, corporate development director, Betfair UK. Giles Thompson is currently the CEO of Betfair Australasia. UK-based Betfair Group will continue to supply technology and support to the Australasian unit.