Monthly Archives: December 2017

Crown Resorts offloads CrownBet stake for $117M

Beleaguered casino operator Crown Resorts has agreed to sell its 62% stake in online betting company CrownBet for A$150 million (US$117 million).

In a filing, the Australian Stock Exchange-listed company announced that it has entered into agreement with a buyer who Crown Resorts described only as “an entity associated with other shareholders in CrownBet, including CrownBet management team” led by CEO Matthew Tripp.

The deal, which includes the loans advanced by Crown to CrownBet, is still subject to the buyer “arranging satisfactory financing.” Crown said it expects the transaction to be completed by February 2018.

Crown confirmed in November that it had been in talks about the possibility of selling its CrownBet stake, following reports that both British bookmaker William Hill and Dublin-based Paddy Power Betfair—which operates Australian online bookmaker Sportsbet—had expressed interest in the stake.

The top gambling stories of 2017

With the end of the year just days away, looks back at the stories that shook up the gambling world in 2017.


This summer, the US Supreme Court agreed to hear New Jersey’s appeal of federal courts’ rejections of its quest to bring legal sports betting to the Garden State. And with that, the 25-year-old Professional and Amateur Sports Protection Act (PASPA), which limits single-game sports betting to Nevada, began looking vulnerable.

The announcement marked the first real punch the state had landed after years of getting pummeled by district courts, who continually sided with the state’s opponents, the US Department of Justice, the four major pro sports leagues and the NCAA.

Foxwoods Resort Casino owner puts long-term debt in order

The Mashantucket Pequot Tribal Nation (MPTN) is realigning its long-term debt as it braces for the opening of MGM Springfield in late 2018.

Hartford Business reported that the MPTN, which owns the Mashantucket Pequot Gaming Enterprise, has secured the clearance to extend the repayment of its long-term debt to June 30, 2020 and its forbearance agreement with senior lenders to June 30, 2019.

“With the reality of competition expanding throughout the Northeast, Foxwoods continues to add a variety of non-gaming and family-friendly offerings in preparation for the imminent changes to come,” MPTN Chairman Rodney Butler said, according to the report. “By realigning our Term A obligations and extending our forbearance agreement, we can better ensure that our ongoing plans will be compatible with long-term profitability.”

This is welcome news for the tribe, which is currently preparing for a showdown with MGM Resort International. MGM is expected to open the doors of its $960 million hotel and resort casino in Springfield, Massachusetts, in the fall of 2018.

New year’s six bowl odds: Cotton bowl kicks off weekend action

With bowl season finally winding down, the best teams in the country will finally get an opportunity to prove themselves in some of the biggest games starting on Friday. That is when the eighth-ranked USC Trojans will meet the fifth-ranked Ohio State Buckeyes as 7.5-point underdogs in the Cotton Bowl at AT&T Stadium in Arlington, Texas.

Odds courtesy of

The Buckeyes will be out to prove they belonged in the four-team College Football Playoff field while the Trojans look to be a dangerous opponent despite failing to cover the spread in six straight games against Big Ten opponents. Ohio State is 11-2 against the spread in its last 13 versus Pac-12 foes but 0-2 straight up in the past two meetings.

On Saturday, two more Top 10 schools from the Big Ten will take center stage in the Fiesta Bowl and Orange Bowl. The ninth-ranked Penn State Nittany Lions are 3-point chalk against the 11th-ranked Washington Huskies in the Fiesta Bowl and have gone an impressive 16-4-1 ATS in their last 21 games. However, the Huskies have won four straight versus the Big Ten.