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Business
June 13, 2022
PointsBet Rebuffs Acquisition Offer for Its Australian Arm
The board of directors of PointsBet allegedly turned down an acquisition offer by a consortium led by Rupert Murdoch’s News Corp Australia. The proposed deal was for up to $211.1 million, but PointsBet directors did not present it to shareholders in the company. PointsBet’s board, which is currently led by former UBS banker Brett Paton, […]
Industry
June 13, 2022
Western Australia Backs Blackstone’s Bid on Crown
The Blackstone Group, a US-based private equity company, is on the way to acquiring Crown Resorts, an Australian casino business. As per the agreement, the former firm will acquire the operator for a total of around $6.5 billion. The deal was approved by Crown’s shareholders and has now been approved by Australia’s regulators as well. […]
Industry
June 13, 2022
Online Bookies on Brink of New Taxes in Virginia, Australia
On the one side, you have tax increases, corresponding to the increases in market share, and on the other, you have tax increases slowing growth. Who gets it right in the end? Increasing Taxes Selectively – Complex Process Victoria State might be on the verge of a new gaming tax reform, as interested parties are […]
Business
June 9, 2022
Two Australian Watchdogs Back Blackstone-Crown Resorts Deal
The Blackstone Group has cleared an important hurdle as it pivots towards the acquisition of Crown Resorts Ltd. The company has got the go-ahead by regulators in Victoria and New South Wales with the Victorian Gambling and Casino Control Commission (VGCCC) and the New South Wales Independent Liquor and Gaming Authority (ILGA) backing the move, […]
Casino
June 9, 2022
Crown Resorts CEO to Make Sydney a Casino Industry Benchmark
Crown Resorts is awaiting a verdict that could leave it short of a license in New South Wales, but while anticipation builds up company chief executive officer Steve McCann feels optimistic about the future and the role Crown Sydney can play in establishing a new benchmark for casino operators anywhere in Australia. Crown CEO Hopeful […]
Industry
June 6, 2022
New South Wales Discusses Gaming Law Changes
The government of New South Wales (NSW) has announced that it wants to amend two gambling regulations, which are set to expire in September 2022. In its official report, the government noted that the amendments will be made by the end of this year. Individuals and Shareholders Will Be Able to State Their Opinions Until […]
Legal
June 6, 2022
NSW Proposing Regulatory Amendments Ahead of Statutory Review
Two key gambling regulations in New South Wales (NSW) are about to expire in September and the Independent Liquor and Gaming Authority (ILGA) is proposing new versions to the industry and the public for comment. In Line with Industry and Public Expectations The two regulations, the Betting and Racing Regulation and Totalizator Regulation, deal with […]
Industry
June 6, 2022
Tabcorp Salutes New Racing Industry Tax Reforms in Queensland, Australia
Tabcorp has ended its three-year legal dispute with Racing Queensland as the operator reached a conditional settlement and it will have to pay AU$150 million ($108.3 million) after the new reforms that were announced by the government of Queensland, Australia. This development comes just days after the company announced several changes in its senior development […]
Blockchain
June 6, 2022
New Report Urges Australians to Beware of Crypto Scams
A new report warns Australians to be wary of scams related to cryptocurrencies as the costs of such scams on retail consumers have been growing. Australians Lost More than $163M to Scams This Year Released by the Australian Competition and Consumer Commission (ACCC), which is the country’s chief competition regulator, the report includes recent data […]
Casino
June 6, 2022
New Job Ads Signal Crown Sydney Casino Might Get License After All
New job ads for casino personnel at Crown’s Sydney venue signal that the venue may be turning a new page officially. Updates and official statements are still upcoming. Job Ads Mean Business The Bergin inquiry into Crown’s operational activities found the Sydney property was “unfit” for a license after it concluded the year-long review process […]
