Why the Crown Resorts Limited share price is falling today

Filling out a betting slip

Filling out a betting slip

Betting giant William Hill has said talks are under way over a possible tie-up between rival CrownBet and its Australian business.

"There is no certainty that these preliminary discussions will lead to any transaction".

The FTSE 250 group has held "very preliminary discussions" with CrownBet, which is 62% owned by Australian gaming and entertainment group Crown Resorts.

"Crown evaluates opportunities regarding its investments from time to time", the firm said in its statement. The company announced that it is now in ongoing discussions regarding its interest in CrownBet but that there was no certainty as to whether any transaction would eventuate.

Crown Resorts also said in its statement that there was no certainty about whether any transaction will eventuate.

The announcement comes after William Hill gave a bright update to the market earlier this week, as digital revenues picked up pace and it assured investors over its turnaround plans.

William Hill boss Philip Bowcock was particularly pleased with the online returns - "in spite of the absence of a major football tournament".

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