Australian casino operator Crown Resorts said it has agreed to sell its 62 percent stake in online betting firm CrownBet to a consortium for A$150 million ($117 million).
The deal, part of a series of divestments planned by Australia’s biggest casino company to cut debt, also includes loans extended by Crown to CrownBet.
Dublin-based online betting operator Paddy Power Betfair and British bookmaker William Hill had previously expressed an interest in the stake.
Australia’s gambling industry has seen much change this year with the country’s biggest bookmaker Tabcorp Holding buying lottery owner Tatts Group for $4.7 billion this month to create a gambling powerhouse.