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Industry
June 21, 2022
NSW Changes the Point of Consumption Tax
The government of New South Wales has announced a 5% increase to the Point of Consumption tax on corporate sportsbooks. With this development, the POCT will rise from 10% to 15% and the new rules will be effective on July 1, 2022. Tax Revenue Is Set to Increase by Over $500 Million NSW’s tax increase […]
Industry
June 21, 2022
Australia in Danger of Being Placed on FATF Grey List in 2025
Australian gambling industry received a warning from the country’s financial intelligence agency, AUSTRAC, it has been in its crosshairs for a while and need to do more to raise money laundering standards. Money Laundering Investigation and Prosecution The warning was issued by AUSTRAC’s chief executive officer Nicole Rose who spoke at a conference organized by […]
Business
June 20, 2022
SIG Sports Purchases 12.8% Of PointsBet
PointsBet has landed an AU$94.2 million ($65.75 million) investment from Sports Investment Corp. With this development, SIG Sports has agreed to purchase 38.75 million shares from PointsBet at a price of AU$2.43 ($1.7) and thus, gain a 12.8% stake in the company. The deal comes just a week after PointsBet turned down an acquisition offer […]
Sports
June 20, 2022
Netball Australia Strapped for Cash, Gambling Ads Possible Solution
Struggling with a reported debt and loss of around $11 million, the Australian Netball league might turn to more non-sporting commercial opportunities, including starting to accept gambling advertisements and sponsorships. Bad Financials Grow, Gambling Ads Might Help It’s been six years since the split in Trans-Tasman Netball League, aka the ANZ Championship, which gave birth […]
Legal
June 16, 2022
The ACMA Blocks Thepokies.net in Australia
The Australian Communications and Media Authority (ACMA) is cracking down on offshore operators in the country. In its latest move, the regulator requested the shutdown of one of the biggest unlicensed casino sites in Australia. Thepokies.net Took Millions from Australian Players The site in question is thepokies.net, a major provider of slots and live casino […]
Casino
June 15, 2022
Crown’s Acquisition by Blackstone Will Breathe New Life into the Brand
The Federal Court of Australia has approved the takeover of beleaguered casino operator Crown by The Blackstone Group, a US-based private equity giant. This approval clears the final hurdle before the $6.5 billion acquisition, which will conclude on 24 June. The takeover has already secured the other required approvals from Victoria, Western Australia, and New […]
Industry
June 15, 2022
GambleAware Unveils New Ad Campaign in NSW
GambleAware, a charity that commissions research, prevention and treatment services for problem gamblers, has unveiled a new advertising campaign in New South Wales. The latter promotes harm reduction by highlighting the negative impact of unrestrained gambling. Be Aware, Be GambleAware According to research, every tenth gambler in New South Wales is at risk of gambling […]
Casino
June 15, 2022
Queensland Probe of Star Threatens Tourism District Project
The newly-launched investigation into The Star in Queensland bears repercussions for the state’s tourism beyond gambling. As Star Entertainment will have to prove its license sustainability while attorney general Shannon Fentiman investigates the property, there are other considerations for Queensland in general. Tourism to Boost Local Economy, But Casino License Necessary One such is the […]
Legal
June 14, 2022
Queensland Gov Announces Independent Inquiry of Star
The government of Queensland has opted to evaluate Star Entertainment’s business after all. This follows the government’s decision to introduce new laws that prevent gambling crime in the first place. Queensland Will Probe Star’s Business The independent inquiry, announced by Shannon Fentiman, Queensland’s attorney-general, will evaluate whether Star Entertainment is suitable to hold a license. […]
Casino
June 14, 2022
Octogenarian with Gambling Addiction Sentenced to Six Years
An Australian man with a gambling problem will spend almost seven years in prison after a jury found him guilty of defrauding an acquaintance from AU$2.7 million or roughly $1.9 million. The culprit, one Munir Muzafar Fakrud Hassanali, fleeced his 66-year-old victim out of money over the course of two years. Hassanali convinced the person […]
