December 29, 2017 / 4:39 AM / a year ago

Australia's Crown Resorts to sell CrownBet stake for $117 million

Dec 29 (Reuters) - Australian casino operator Crown Resorts said on Friday it has agreed to sell its stake in online betting firm CrownBet for A$150 million ($117 million), seeking to cut debt.

The company said it will sell its 62 percent interest, together with loans advanced by Crown, to an entity associated with other shareholders in CrownBet. ($1 = 1.2830 Australian dollars) (Reporting by Chandini Monnappa in Bengaluru; Editing by Edwina Gibbs)

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