In a recent turn of events, the online bookmaker Sportsbet has secured a temporary court injunction in Australia to block rival CrownBet from changing its name to Sportingbet. This is an important move for the Paddy Power Betfair operated company as it would avoid a misleading of consumers. At least this is what the operator claims in a recent statement.
In June, CrownBet has applied to the Australian Securities and Investments Commission to reserve the name ‘Sportingbet Pty Ltd’. CrownBet’s chief executive, Matt Tripp, served as chairman of Sportsbet from 2011 to 2013 and his father, Alan Tripp, once owned a company called Sportingbet that was acquired by UK operator William Hill in Australia in 2014.
The rebrand has been on the cards since Crown Resorts sold its 62% stake in CrownBet to The Stars Group for Aus$150m (£84m/€95m/$111m) in February. The Stars Group increased its stake to 80% in April.
The case between the two rivals, started about 2 weeks ago, this is when Sportsbet has sued CrownBet over a the trademark issue.
It has been a year of rivalry for these 2 companies, CrownBet was selected in March as the preferred bidder for William Hill’s Australian business in a deal valued at A$300 million. It is also important to note that CrownBet and Sportsbet were actually the two finalists in the highly competitive bidding process for William Hill Australia.
Sportsbet initiated an emergency order in the Federal Court in an effort to stop CrownBet last month, claiming that Sportingbet is too similar a name to Sportsbet and could “mislead or deceive” customers.
“This decision demonstrates that the court shares our concern regarding the likelihood that consumers will be misled into thinking services offered under a Sportingbet brand are connected or associated with Sportsbet,” Sportsbet said in a statement.
“Sportsbet will continue to take all necessary action to protect its brand and prevent deception in the market and will see the matter through to a final determination, if necessary.”
A CrownBet spokesperson said that the company is considering its options.
“We’re obviously disappointed and will examine the decision closely and consider all options available to us,” the spokesman said.
We are looking forward to the developments of the case and will return with results as soon as they are published.
Source: iGamingBusiness.com
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