Edward Craven plans to take Stake legal in Australia

The Australian billionaire is believed to be planning to compete with Tabcorp and Sportsbet.

Australia.- Billionaire Edward Craven, in collaboration with his business partner Bijan Tehrani, is reportedly preparing to launch a new gambling operator to challenge the dominance of Tabcorp and Sportsbet in the Australian sportsbook market. 

The duo has taken strategic steps, including registering Australian companies and trademarks for their global gambling brand, Stake, which is currently prohibited in the country. 

According to local media reports, Craven and Tehrani have successfully registered Stake Gaming Pty Ltd with the Australian Securities and Investment Commission (ASIC). Additionally, they have filed a trademark application for the Stake Gaming brand.

Although Stake.com is not accessible to Australian customers due to legal restrictions, the platform has gained significant traction globally, generating an average of AU$585m via its online casino and international sports betting business on a daily basis.

Stake has not yet commented on the recent company and trademark registrations.