Paddy Power held talks about potential deal with CrownBet

Bookmaker CrownBet is in play

William Hill in Australian merger talks

In a statement confirming the talks, Crown Resorts said: "Crown Resorts notes media speculation today in relation to consolidation in the online wagering industry, including in relation to CrownBet, which is 62% owned by Crown", the company said.

James Packer's Crown resorts is in talks over the future of its 62% holding in bookmaker CrownBet.

The UK-listed betting name stressed the discussions were "preliminary" and there was no certainty an agreement would be reached. Paddy Power Betfair shares rose 3.8 per cent in London trade while William Hill stock was down 1 per cent.

Earlier this week, William Hill said it was on track to meet expectations for the year, with net retail revenue up three per cent for the latest quarter.

But its worldwide performance was mixed, with Australian revenue and wagers falling 2% and 5%, respectively, while its United States business delivered a 28% rise in revenues and a 33% jump in wagers.

William Hill has confirmed it is in talks over a prospective merger with CrownBet after media speculation over a potential tie-up.

CrownBet had opposed the planned merger between Tabcorp Holdings Ltd, an Australian wagering, gaming and keno operator, and Tatts Group Ltd, a wagering, lotteries and gaming business with operations in Australia and New Zealand.

Currently, players are allowed to place a maximum amount of £100 every twenty seconds, but local authorities have been considering to cut that state to an amount between £2 and £50.

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