CrownBet’s transformative transactions with Crown, Stars Group and William Hill

Arnold Bloch Leibler has acted for CrownBet’s founders, including Matt Tripp, Grant Griffiths and Nick Tyshing, on a series of milestone transactions, including the sale of an 18 per cent stake of CrownBet to Canadian listed company The Stars Group, Inc CrownBet executed a series of milestone transactions, including the $150m exit of Crown Resorts from the CrownBet joint venture (completed on 27 February 2018); the entry of new partner, The Stars Group, a $5.5bn Canadian listed global wagering company identified as an ideal new partner for CrownBet after a global search; the sale of a further 18% interest in CrownBet by the CrownBet founders to The Stars Group; and the circa $300m acquisition of William Hill Australia by CrownBet, after CrownBet was the successful bidder in a competitive sale process concluded on Tuesday.

CrownBet Pty Limited operates an online betting platform. It provides bonus bet specials across various sport and racing events. The company was formerly known as BetEasy Pty Ltd.

The ABL advised CrownBet’s founders (Matt Tripp, Grant Griffiths and Nick Tyshing) with a team including Corporate & Commercial Partner Christine Fleer (Picture), Senior Associates Jason Van Grieken, Gavin Hammerschlag, James Hamilton and Miguel Ferreira advised on the transactions. Partner Paul Sokolowski and Senior Associate Greg Judd assisted with tax issues, while Special Counsel Damien Cuddihy provided financing advice and Lawyer Luke Jedynak provided advice in relation to FIRB.

Gilbert + Tobin advised TSX/NASDAQ-listed The Stars Group Inc. on its acquisition of 80 percent of CrownBet and on CrownBet’s successful bid to acquire William Hill Australia with a team including Costas Condoleon, David Josselsohn, Kevin Ko and Lawyers Wes Bainbridge, Adrian Zhang, Alexandra Greig and Jamie Pounch, with strong support from experts throughout the firm including Banking + Infrastructure Partner Gail Christopher, Consultants Kate Twomey and Kerry Carew and Lawyer Justin Greer, Technology + Digital Special Counsel Andrew Hii and Lawyer Clare Harris, Regulatory Lawyers Jeremy Jose and Dylan Gardner, Intellectual Property Lawyers Anna Smyth, Mindaugas Skavronskas and Michael Cassidy, Employment Lawyers James Pomeroy and Ian Metz and Real Estate & Projects Lawyers Jo Bayes and Graduate Rebecca Smyth

 

Involved fees earner: Christine Fleer – Arnold Bloch Leibler; Jason van Grieken – Arnold Bloch Leibler; Gavin Hammerschlag – Arnold Bloch Leibler; Paul Sokolowski – Arnold Bloch Leibler; Greg Judd – Arnold Bloch Leibler; Damien Cuddihy – Arnold Bloch Leibler; Luke Jedynak – Arnold Bloch Leibler; Costas Condoleon – Gilbert + Tobin; David Josselsohn – Gilbert + Tobin; Kevin Ko – Gilbert + Tobin; Wes Bainbridge – Gilbert + Tobin; Andrew Hii – Gilbert + Tobin; Clare Harris – Gilbert + Tobin; Anna Smyth – Gilbert + Tobin; Jeremy Jose – Gilbert + Tobin; James Pomeroy – Gilbert + Tobin; Jo Bayes – Gilbert + Tobin; Gail Christopher – Gilbert + Tobin;

Law Firms: Arnold Bloch Leibler; Gilbert + Tobin;

Clients: Matt Tripp; Grant Griffiths; Nick Tyshing; The Stars Group;

 

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Author: Michael Patrini