BRIEF-Betfair switches tactics in Australia, sells JV stake

Wed Aug 13, 2014 2:23am EDT

Aug 13 (Reuters) - Betfair Group Plc

* Switches to a b2b model in Australasia

* Sold its 50% stake in betfair Australasia pty limited ("betfair australia") to joint-venture partner crown resorts limited

* Concurrently entered into an agreement with crown to continue to provide its betting exchange in australasia under a b2b model

* Received aus$10m as consideration for its equity stake Source text for Eikon: Further company coverage:

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.