According to the Australian media, PointsBet’s stakes were allegedly acquired by Ed Craven, a co-founder of Stake.com, and Bijan Tehrani, his business partner.
The secret deal:
The undisclosed investment was made through EasyGo Gaming, and according to the Australian Gambling Review, the amounts were about 4.2% of the company’s shareholder register.
Ed Craven and Bijan Tehrani are the owners of Stake.com, the famous crypto casino and sports betting website.
Stake.com is registered in Curaçao. However, it is managed from Melbourne, but Australians aren’t able to place their bets on this casino since cryptocurrency-based betting isn’t allowed in Australia because of legal restrictions. Also, Tehrani was interested in getting an Australian license for betting last year.
The company’s interest in expanding to the Australian market and allowing the players from Australia to place their bets remained the partners’ focus, and this is allegedly the main reason behind the acquisition of PointsBet. Recently, the company was registered in the market and pursued legal actions that could result in trademark rights, which would make it closer to entering the traditional gambling market in Australia, which will be a significant milestone for Stake.com.
Neither they nor EasyGo Gaming wanted to comment on the acquisition, so all the details remain secret.
Craven and Tehrani worked hard on the global expansion. Among the most recent markets that the company entered is Colombia, which has been done through the acquisition of the famous Betfair Colombia.
PointsBet is one of the leading operators in Australia, based in Melbourne. Recently, Fanatics acquired its US business for the price of $225 million, and the money will be used to improve the Australian part of the business, as well as Canadian. After the acquisition, in August, Fanatics released its Fanatics Sportsbook app in various states across the US, expanding further across this key world market.
PointsBet was founded in 2015, and since then, it has grown rapidly across the whole Australian market. The biggest success was launching its unique sports betting feature, PointsBetting, in 2017 in the Australian market. The company is based in Victoria, and it is one of the leading sports betting providers in the whole country.
On the other hand, Stake.com was founded in 2017, and it became a leader in the world of sports betting, especially crypto betting. The main company’s focus is delivering the highest return-to-player rates to its customers, guaranteeing them an exceptional betting experience and safe and secure gambling.