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UPDATE 1-Australia's Crown Resorts says in talks over its holding in CrownBet

Published 24/11/2017, 12:59 pm
© Reuters. UPDATE 1-Australia's Crown Resorts says in talks over its holding in CrownBet
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(Adds report by the Australian newspaper)

Nov 24 (Reuters) - Australian casino operator Crown Resorts Ltd CWN.AX said on Friday it is in discussions about its 62 percent holding in CrownBet, its online betting unit.

Crown Resorts' statement followed a report in The Australian newspaper that CrownBet and its rival William Hill WMH.L are believed to have held in-depth talks on a potential deal.

It was not clear from the report whether Crown Resorts was looking to sell some or all of its holding in CrownBet or reach some other sort of deal.

Crown Resorts also said in its statement that there was no certainty about whether any transaction will eventuate.

Any talks between CrownBet and William Hill would follow a planned $4.7 billion takeover of lottery owner Tatts Group TTS.AX by horse race betting giant Tabcorp Holding TAH.AX . of the Crown Resorts were down 1.8 percent compared with a 0.4 percent decline for the benchmark index .AXJO .

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