Word is on the street that PokerStars is back in Australia but will be offering their unique services through their new acquisition Crown Bet who are the operators of the licensed online sports betting – PokerStars withdrew its online poker and casino products in September of 2017 following the passage of a gambling bill amendment that clarified and strengthened an existing ban on online poker and casino games.

The Stars Group the purchase of the majority interest in Crown Bet and company announced that they would be increasing their stakes in the Australian sportsbook arena from 62% to 80% and that further to this CrownBet would also purchase sports betting competitor William Hill Australia Holdings Pty Ltd.
It is believed that Stars Group paid $117.7 million for the initial 62% stake in CrownBet and an additional $315 million to increase its stake to 80% and also the purchase of William Hill Australia.

Approval of the Northern Territory Racing Commission and the Australian Foreign Investment Review Board is required before the acquisition of William Hill Australia is finalized. The Stars Group’s additional stake in CrownBet is contingent on that acquisition. Subject to all required approvals, the transaction is expected to close in April 2018.
The purchase of two of Australia’s top online sports betting sites has certainly opened the eyes of those also in the same market to look deeper into possibilities and this could be the start of a trend that could become a big boom in the Ausltralian gambling industry. Australia. Some analysts predict that further consolidation in the market could possibly occur as smaller companies struggle to conform to new stricter gambling regulations.

The smaller operators could find themselves behind the eight ball as a result of tax increases that are expected to be announced shortly. In Western Australia and Queensland tax on bookmakers is assessed based on the jurisdiction that has issued the company’s license. The Northern Territory Racing Commission taxes are less than anywhere else and under the new plan the tax rate would be assessed based on the location of the wager and not where the company is licensed.