Casino News billionaire own secret stake in local bookie PointsBet

The Australian billionaire behind crypto casino, Ed Craven, has secretly built a stake in PointsBet.

Along with a business partner, the billionaire has held a position in the local bookie. The objective behind the staking is to establish a foothold in the local wagering circle. Craven and Bijan Tehrani, his business partner, suggested plans to diversify assets and enter Australia’s legal gambling market in 2022.

Several wagering sources who wish to remain anonymous claim that Craven and Tehrani have built a stake in PointsBet in the past few months. The duo already holds 4.2% of the shareholder register.

The sources have stated that this stake was acquired via EasyGo Gaming, one of the accused’s businesses. Neither Ed Craven nor Bijan Tehrani has generated any official comment.

Naturally, the news brought into the public eye as well. Many enthusiasts went through every Stake casino review to learn more about the platform and Craven’s involvement in it. The Curacao-based business is operated from Melbourne, Australia.

However, Australia-based users cannot legally use the platform since it requires crypto to bet. Tehrani previously expressed interest in applying for a wagering license in Australia. The platform was established in 2017 and has since become one of the most popular online casinos.

Craven, the man behind the casino, has amassed a fortune of 3.1 billion dollars till now. 

As for the PointsBet position, it is not clear whether the billionaires intend to increase their stake in the ASX-listed wagering operator. However, their position clearly indicates their interest in the traditional gambling market.

The duo has applied for a license with the Northern Territory Racing Commission. They registered their companies locally and even filed for trademarks for Stake.

The online gambling platform also sparked havoc when it signed Twitch streamer XQC for a whopping 100 million dollars to stream on Kick. For comparison, LeBron James made 97.1 million dollars when the basketball star moved to the Lakers.

David Bright

David Bright joined Times of Casino as a news writer focused on the casino industry. He holds a bachelor degree in Economics and Accounting and currently contributing in-depth news articles. David writes on the casinos, gambling legislation, poker, and much more.

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