Aussie Firm – Crown Resorts Signs New Agreement with Clubs NSW
The Australian casino operating giant, Crown Resorts Ltd. has stated that the online betting service, Crown Bet has signed a new deal. This deal is a 10 year agreement that would see it serving as the wagering partner for Clubs NSW (New South Whales). Crown Resorts, which is a Sydney Listed company is behind some of the biggest brick and mortar casinos such as Crown Perth and the Crown Casino and Entertainment Complex that is located in Melbourne. It is also the firm behind the upcoming 2 billion dollar Crown Sydney premises. This revealed agreement is effective immediately. According to this new deal, the company is going to offer its digital gambling service to more than 1200 clubs that are scattered across New South Wales. This will also enable the individual venues to claim commissions for all in house bets.
The Deal Came Following Fierce Competition
Crown Resorts Ltd. was able to secure the deal after overcoming fierce competition from other rivaling companies. This included Totalisator Agency Board, Betting Club and Sportsbet. It secured the deal after offering a much higher commission structure for the NSW Clubs. It also offered a more beneficial rewards system for the members. In addition, the in venue players are going to be able to earn many incentives through the Rewards Program of Crownbet. This program would enable the punters to collect points by placing wagers, and these points can then be used to buy drinks and food.
Crown Resorts' Comment On the Deal
The CEO of CrownBet, Matt Tripp, stated that the company is quite thrilled to have received this amazing endorsement from Clubs NSW. He added that they plan to change and enhance the entire betting experience for the guests and the members. This deal between the NT licensed Crownbet and Clubs NSW represents the first time that an Australian internet wagering provider offers the players of NSW with the ability to directly get their winnings in cash. They used to be forced to utilize electronic money payment solutions to transfer the money to their banks.
The CEO of Clubs NSW, Anthony Ball, commented on the new deal through a statement. He stated that this new arrangement with CrownBet is going to make sure that all of the clubs that belong to Clubs NSW would get their fair share of the digital bets. This will also help sustain and ensure the long term viability of the industry.
This arrangement, which represents a market capitalization of almost 5.74 billion dollars, is controlled by the principal shareholder, which is none other than James Packer. Xenophon, the anti-gambling senator, stated that this new deal is good for the clubs, but it is not good for the punters. He believes that the punters already can lose money at the Crown Resorts premises, now they can lose their money at the clubs as well.