Crown to Purchase Share of Betfair Australia?

According to Fairfax Media's The Sydney Morning Herald, Crown Limited is preparing to purchase Betfair UK's 50 percent stake in Betfair Australia. Betfair had high hopes for its share which has proved not to be as profitable as projected and the company is happy to be rid of it. An official statement has not yet been released but Fairfax Media sources said Crown has the means to transform the existing model to include the fixed odds segment once the buy-out is complete.