[AusRace] (no subject)

Tue Apr 21 13:13:58 AEST 2020

Online betting brand BetEasy to close, will be replaced by Sportsbet

 <https://cdn.newsapi.com.au/image/v1/465ca92590f59d9acd7d7df804a23e03> 

BetEasy's closure has major implications for the racing industry. Picture:
Reg Ryan/ Getty Images.

*	EXCLUSIVE

John Stensholt <https://www.theaustralian.com.au/author/John+Stensholt> 

Editor, The List

@JohnStensholt  <http://twitter.com/JohnStensholt> 

*	2 hours agoApril 21, 2020

EXCLUSIVE

One of Australia's biggest online betting brands, BetEasy, will close and be
replaced by local rival and merger partner Sportsbet.

The surprise move is a backtrack by the global owners of the two companies,
who were set to run a dual brand strategy in Australia following the $US12bn
($19bn) merger of respective owners Flutter Entertainment and The Stars
Group.

Sportsbet will consume the BetEasy business, which was born out of the
merger of CrownBet and the Australian arm of William Hill in 2018, and will
account for about 26 per cent of the online betting market in a move which
could see hundreds of jobs lost across the two companies.

The move also has major implications for the racing industry and sports such
as AFL, which earlier this year extended its major sponsorship deal with
BetEasy. Sportsbet is likely to now replace it as the AFL's major wagering
partner.

Sportsbet management are likely to see the move as an opportunity to extend
its market-leading position in online betting, particularly against
Tabcorp's TAB brand.

Shareholders of Flutter and Stars Group are voting on the deal later tonight
Australian time and later this week. The ACCC gave the merger "informal
approval" locally in February, though the deal still needs official
regulatory approval.

BetEasy's closure will also mean the end of an era for bookmaker Matthew
Tripp,
<https://www.theaustralian.com.au/business/tripp-makes-full-beteasy-exit/new
s-story/3ea4ba118122525458d19b61be77ef43>  who formed the company after
selling Sportsbet in a $338m deal in 2011 to Irish firm Paddy Power (now
Flutter).

He was succeeded as boss of BetEasy by Andrew Menz on January 1, but stayed
on as non-executive president.

Sportsbet is run in Australia by its chief executive Barni Evans.

More to come

John Stensholt <https://www.theaustralian.com.au/author/John+Stensholt> 

Editor, The List

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