CrownBet, Australian sports betting operator has been rebranded as BetEasy. This has happened after the recent acquisition of William Hill Australia’s assets. The news was flashed by Matt Trip, the company’s CEO in an interview with Fairfax Media, the local news outlet. The relaunching of the rebranded business will take place in mid-August.
Early in this year, William Hill made an announcement that the company was in the process of reviewing the Australian businesses, which are underperforming. The company also thought of business sale among the possibilities under consideration. The bidding process for the business was fierce and finally CrownBet was announced as the buyer of the betting operation in the month of February. Almost at the same time The Stars Group, which is the Canadian gambling giant announced that they would acquire almost 80% equity in CrownBet from Crown Resorts, which is an Australian casino operator.
Reports came into circulation this spring season after the acquisition deals that CrownBet was planning to rebrand as part of its merging with William Hill Australia. It also became popularly known that Mr. Tripp and his team had chosen the name as Sportingbet. This was a popular local betting operator once operated by his father Alan.
The three brands acquired by William Hill on its entry in the Australian gambling market was Sportingbet along with Centrebet and Tom Waterhouse. The three businesses were later amalgamated by the British bookmaker into William Hill Australia.
The original rebrand plan of BrownBet fell after SportsBet owners moved the court. They vouched that SportingBet sounded similar to SportsBet and this would create confusion in the mind of the customers. While some might think, both are same, some might think that they are related and so on. The court published an order where the planned rebrand has been temporarily blocked.
On Tuesday Mr. Tripp announced that their combined business will have a new name and it would be BetEasy. This name would sound familiar with the customers – both with William Hill Australia people and CrownBet lot.
Mr. Tripp was personally slightly upset because he loved the name SportingBet, but he had no personal grudge at the legal action took by SportsBet.
The amalgamation of William Hill Australia and CrownBet will be the country’s third largest sports betting operator along with SportsBet and Tabcorp. This new branding is taking place at a time when there is heavy competition, new taxes and tight advertising restrictions on licensed Australian operators.
Mr. Tripp said to Fairfax Media that they supported measures which are taken for protecting gambling customers well, but they also cannot sugarcoat the reality that operators are facing greater challenges than before.
Operators are being charged between 8%-15% on local revenues for consumption taxes in many Australian states and territories. Local lawmakers show the same reasons for implementation of new tax regimes. They have a point which says that the government can benefit from the growing sports betting industry exceptionally well.