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Industry
July 14, 2022
ACMA Announces New Tool to Help Fight Gambling Addiction
On July 14, The Australian Communications and Media Authority (ACMA) announced new rules and regulations regarding the upcoming launch of BetStop, a register where gamblers can exclude themselves from all legal online and mobile phone betting services in Australia. ACMA’s Requirements Regarding BetStop Australia’s communications watchdog is strengthening its fight against gambling addiction with a […]
Casino
July 14, 2022
Queensland Casino Probe to Get Underway on August 23
Queensland is finally launching an investigation into Star Entertainment Group with the state looking into potential links between the issues the company faced at its Sydney property and its operations in the jurisdiction. The probe is led by justice Robert Gotterson. Details about the process were provided by assisting council Jonathan Horton QC who has […]
Business
July 12, 2022
Iris Capital Becomes the Highest Bidder for Aquis’ Casino Canberra
The raging bidding war over Aquis Entertainment’s Casino Canberra is about to end as Iris Capital, a venture capital company based in New South Wales, has made an even higher offer to purchase 100% of the shares in the casino from Aquis, outbidding any previous offers from Capital Leisure & Entertainment Pty Ltd. Iris Capital’s […]
Industry
July 11, 2022
Sky Racing Secures Greyhound Racing Victoria Broadcasting Rights
Greyhound Racing Victoria (GRV) announced a new partnership agreement with Australian broadcaster Sky Racing, extending the outlet’s broadcasting rights by another four years. The Melbourne-based Greyhound Racing Victoria manages 13 tracks and is in charge of regulating the sport in the state of Victoria, Australia. According to GRV, the partnership will help popularize greyhound racing […]
Business
July 11, 2022
Star Entertainment Taps Michael Issenberg as Non-executive Director
Facing a handful of issues of its own, Star Entertainment Group, the Australian gaming giant, has brought in Tourism Australia chairman Michael Issenberg as a non-executive director as the company steers choppy regulator seas. Star Entertainment has been named in several inquiries, the fallout of the investigation into Crown Resorts, and the broader desire for […]
Business
July 8, 2022
Moody’s Withdraws Crown Resorts Rating over Blackstone Acquisition
Credit rating agency Moody’s Investors Service has stripped Australia-based Crown Resorts Limited from its Ba3 corporate family rating (CFR), following a similar move from credit rating agency Fitch, which a few days ago also downgraded the company’s credit rating. Downgrade Resulting from Blackstone Acquisition The recent changes announced by the two major credit rating agencies […]
Casino
July 7, 2022
Crown Melbourne Makes Positive Changes, Claims Report
It was last autumn when Ray Finkelstein launched a probe into Crown Melbourne’s operations. The Royal Commissioner unveiled a massive scheme involving card transfers via China UnionPay that enabled high-rollers from China to skip currency restrictions. Following Finkelstein’s report, the operator was given two years to implement changes and ensure its compliance with the local […]
Casino
July 7, 2022
Aquis Gets Third Offer for Casino Canberra
A third offer has come in for Aquis Entertainment’s Canberra casino amounting to AUD 60 million ($41 million). The bid was submitted by Iris CC Holdings, which outbid the two offers by Capital Leisure & Entertainment Pty Ltd., a subsidiary of Oscars Group. Iris Capital’s Offer Beats Both Offers from Capital Leisure In May, Aquis […]
Business
July 6, 2022
Fitch Lowers Crown’s Rating Post-Blackstone Takeover
Crown Resorts, Australia’s largest gaming operator, recently sold its business to The Blackstone Group, a real estate and private equity firm. As a result, Fitch Ratings, a major rating agency, downgraded its rating of Crown’s business. Fitch Changed Its Ratings Soon after Blackstone completed the deal, Fitch lowered Crown Resorts’ Issuer Default Rating from BBB […]
Casino
July 6, 2022
Victoria Passes Harm Minimization Laws for Betting Operators
The government of Victoria is committed to making sure that gamblers will remain protected as lawmakers have passed a new ream of changes to the gambling laws in the state, hoping to minimize harm resulting from participation in online and sports betting activities. Victoria Set on Minimizing Gambling-Related Harm These changes follow an investigation into […]
