Australian gaming operator CrownBet is merging with William Hill Australia to create a new entity known as BetEasy. It’s a move that’s rattling the Australian gaming market, but makes sense when viewed through the lens of an Aussie gambling industry that’s under heavy regulatory fire from both activists and government.
When up and running, the operation will be Australia’s third-largest online gambling operator and is expected to be operational sometime within the next month. In an interview with the Sydney Morning Herald, CrownBet chief executive Matt Tripp described the new venture saying:
CrownBet is a reasonable-sized business in its own right, and we are going to be doubling it with the flick of a switch in mid-August.
Tripp got to the heart of the challenge of operating in Australia, and the core reason for the merger, by pointing out that BetEasy would be better equipped to handle the challenges of the Aussie market than either company on its own. (The main challenge being increased taxes and regulation accompanied by increased pressure from anti-gambling advocates.)
When it comes to the Australian gambling market, Tripp is a man who definitely knows what he’s talking about. Back in 2005 he launched SportBet with just $250,000 in seed money. Back in 2015, Tripp sold the operation to Paddy Power for a whopping $380 million. He’s just coming out of a non-compete clause that kept him out of the business for three years after the sale.
On his re-entry into the rough and tumble Aussie gaming world with EasyBet, Tripp said, “People laughed at me five years ago when I re-entered after my three-year non-compete and I said I’m not going back into play second fiddle to my old business, I want to move past them, respectfully. And I think we are well on that journey.”