Father of Stake.com co-founder buys $16m beach house

The father of Australia’s youngest billionaire has scooped up the Sapphire Beach house of Nathan Tinkler for $16 million paid in cash

Jamie Craven, the father of Ed Craven, has had the opportunity to buy the Sapphire Beach House of Nathan Tinkler paying for the property upfront in cash, in what is a great bargain for the Cravens as the family adds to its sprawling beachfront properties. The acquisition price is a good bargain, too.

For one, Tinkler, who ran into financial difficulties, was hoping to fetch $30 million on the property when he first listed it in June 2023, but the price has nosedived ever since, allowing the Cravens to step up and snaffle the trophy house.

The purchase is also a historic return for the family to the area, as the Coffs Harbor area is where Ed Craven, the co-founder of Stakes.com, grew up. Stakes.com has been one of the most impressive casinos worldwide, beginning as a website dedicated to crypto deposits and withdrawals and quickly becoming a force to reckon with globally.

The website launched in 2017 and has become one of the most impressive gambling enterprises and ventures in the world, shaping itself as a multi-billion business and accumulating significant wealth for Craven Junior whose net worth is now listed at $3.11 billion according to the Australian Financial Review.

Craven Junior, though, is also expanding. He has invested in Easygo, a game creator that Ed owns himself. Yet, the new beach house property acquisition is also the opportunity for the Cravens to own a total of 1.8 hectares of beachfront. Part of this purchase was made possible by the misfortune of Tinkler, and especially after he declared bankrupt in 2016, a year before Ed Craven would begin his meteoritic rise in the world through Stake.com.

Looking for your next crypto casino? Check out Mega Dice or FortuneJack!

Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

Similar News