Crown Resorts Limited (ASX: CWN) today announced that it has acquired Betfair Group plc’s 50% equity interest in Betfair Australasia for consideration of $10 million. Betfair Australia was formed in 2004 as a 50/50 joint venture between Crown and Betfair Group plc. As a result of the transaction announced today, Crown now owns 100% of Betfair Australia. Betfair Group plc will continue to provide technology and support services to Betfair Australia.

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