SYDNEY, Feb. 7 (Xinhua) -- James Packer's CrownBet has confirmed an agreement with ClubsNSW to administer 1,200 venues with digital gambling services across the state of New South Wales, it has been announced Tuesday.
"We're thrilled to receive this groundbreaking endorsement from ClubsNSW. Our plan is to change the entire wagering experience for the benefit of their members and guests," CrownBet said.
The 49-year-old Australian is the son of Kerry Packer, the founder of One Day Cricket, and is one of the richest people in the country with an estimated net worth of around 5 billion Australian dollars (3.5 billion U.S.).
Formerly a media model, Packer still has holdings in publishing and broadcasting but his primary business interests come from Crown Resorts and the Casino business.
With a market capitalization of more than 7.5 billion Australian dollars (5.74 billion U.S.) and 25 million visitors per year to Crown Melbourne and Crown Perth, the company expanded into China's Macao in 2009 and is set to open another casino in Sydney by 2020.
With ClubsNSW in desperate need of an overhaul, CrownBet's involvement has come at a time when nine out of ten clubs in New South Wales have been losing money on their gaming services as more people turn to online and mobile wagering.
"Our arrangement with CrownBet will ensure all NSW clubs get their fair share from digital bets and will help ensure the industry's long-term viability," Clubs New South Wales chief executive officer Anthony Bell said.