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Stake.com Founders Secretly Invested in Australian Bookmaker

Stake.com Leaders Stealthily Enter Australian Betting Scene with PointsBet Stake
Ekaterina Abramova Photo in GTA Style
Published on: December 13, 2023
Last updated: January 30, 2024
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Behind the scenes, Ed Craven, a magnate steering the Stake.com crypto casino, and his associate have covertly garnered a share in ASX-listed online betting firm PointsBet. They aimed to secure a foothold in the regional betting arena. Late last year, Mr. Craven and business partner Bijan Tehrani hinted at plans to distribute assets, stepping into the legalized Australian gambling sector. Sources close to the wagering domain, not authorized to speak publicly, reveal that over the past month, this duo has been steadily attaining leverage in PointsBet. And they boast approximately 4.2% ownership of the shareholder register now. The acquisition is linked to EasyGo Gaming, another venture of theirs, according to insiders. Both the bookmaker and the billionaire tandem declined to provide comments.
Key Takeaways
Stake.com founders Ed Craven and Bijan Tehrani covertly acquired a 4.2% stake in PointsBet, marking a move into traditional Australian gambling.
The acquisition, done through EasyGo Gaming, reflects a strategic shift towards more conventional betting, despite Stake.com's crypto betting restrictions in Australia.
While expanding their gambling empire, the duo navigates legal complexities, including seeking a local wagering license and dealing with a trademark dispute.

More Details on the Case

The trajectory of the two businessmen's intentions regarding further expansion of their position remains unclear. Nevertheless, their interest in the ASX-listed wagering entity signals a distinct inclination toward investing in more conventional gambling avenues. Stake.com, with its global base in Curacao and processes run from Melbourne, prohibits Australians from legally engaging in its games due to cryptocurrency betting. In a prior interview with The Australian, Mr. Tehrani indicated plans for a separate application for an Australian wagering license. With a fortune totaling $3.1 billion, according to the Financial Review Rich List, the duo previously: 
This last move triggered Federal Court action by a stake trading platform sharing the same name.

About Stake.com

Established in 2017, Stake Casino has evolved into one of the world's largest gambling platforms. On the other side, PointsBet is strategically aiming to expand its share in the Australian online wagering market after its recent US business sale to Fanatics for $225 million recently.
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Ekaterina Abramova, with her profound attention to detail and a personal love for mythological and Egyptian-themed slots, has swiftly made her mark at CryptoGamble. Her passion for slots like "Book of Dead" reflects in her meticulous writing, captivating crypto gamblers with her insightful and relatable articles. Just one year into her journey, Ekaterina's dedication to enriching the gambler's experience shines through, inviting readers to join her in exploring crypto gambling with a fresh, informed perspective.
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