Crown Resorts plans to divest stake in CrownBet

Australian casino operator Crown Resorts Ltd. has reportedly put its 62 percent CrownBet stake in play this week.

The Australian Financial Review reported that CrownBet executives and the Philip-Bowcock-led British bookmaker William Hill held in-depth talks on a potential deal. The idea of the possible merger between the two companies, however, was not on the table.

In a statement, Crown Resorts confirmed that it has been thinking about Crown Resorts and CrownBets’ future but made no mention of a possible merger between CrownBet and William Hill.

“Crown evaluates opportunities regarding its investments from time to time,” the company said. “Crown confirms that it is in discussions concerning its interest in CrownBet. There is no certainty as to whether any transaction will eventuate.”