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Business
December 1, 2023
Super Funds in Australia Reevaluate Gambling Stocks Investment
Over the last few years, Australia initiated changes to its gambling industry. This move comes amid growing concerns about more people being affected by problem gambling and punters losing more per capita than any other country. Losses surpassing hundreds of millions of dollars every month result in an estimate of more than AU$20 billion ($13.2 […]
Business
November 30, 2023
Picklebet Secures AUD 15M in Series A Funding
In a significant stride towards expansion and innovation, Picklebet, the Australian avant-garde betting and media company blending esports, sports, and internet culture, announced the successful closure of its AUD 15 million Series A funding round. Substantial investor interest highlighted the operator’s significant potential and will help it capture a market niche with its unique and […]
Industry
November 29, 2023
Former Gambling Addict Highlights Australia’s Urgent Need for Reforms
A recent ABC News article delved into the story of an anonymous gambling addiction victim who shared his experiences, revealing the lack of player protection mechanisms in many Australian jurisdictions. His recovery story can be a valuable lesson for Australian authorities as they rally to bring order to the country’s gambling sector and introduce measures […]
Business
November 28, 2023
Tabcorp Names Finance Heavyweight Mark Howell as Its New CFO
Australian gambling and betting giant Tabcorp has strengthened its team with the appointment of Mark Howell as its new chief financial officer. Boasting years in finance-related positions, Howell has all the necessary experience to guide the wagering juggernaut’s business. Howell is currently serving as general manager of liquor finance and network optimization at the Coles […]
Industry
November 28, 2023
Victoria Inquiry Supports Safeguarding the Public from Gambling Harm
Gambling is identified as a public health issue in Australia, considering that hundreds of millions of dollars are lost to the activity on a monthly basis. The growing popularity of gambling activities pushed lawmakers to take action and attempt to curb the rate of problem gambling and gambling harm by overhauling the existing regulations. Now, […]
Business
November 24, 2023
NSW and Queensland Extend Star Entertainment’s Special Manager Terms
New South Wales (NSW) and Queensland regulators appointed special managers to oversee the company’s operations after the scandals surrounding its risk management failures and unethical behaviors. The beleaguered operator has recorded substantial progress in remedying its deficiencies but must still convince authorities it is ready to resume control. Both Regions Expect Swift Progress In ASX […]
Industry
November 22, 2023
Michelle Rowland Believes Banning Gambling Ads in Australia Will Not Be Easy
A week ago, Australia’s House of Representatives approved the ban on using credit cards to gamble online. However, another much-discussed ban, the ban on gambling advertisements, might prove to be a trickier matter. Michelle Rowland, Australia’s communications minister, commented on the matter, saying that the implementation of such a ban might prove to be very […]
Casino
November 22, 2023
Victorian Councils Demand Overhaul of Poker Machine Tax Scheme
A coalition of Victorian councils is urging the state government to overhaul a tax minimization scheme for poker machine venues, asserting that the current system allows venues to exaggerate their community benefits. Victorian Clubs Divert Tax Break Community Funds for Self-Gain The councils are particularly concerned about venues pledging additional payments to communities as part […]
Industry
November 21, 2023
Australian Online Betting Giants Unite to Support Financial Counselling Services
Six leading players in the Australian online betting scene – Bet365, Betfair, Entain, PointsBet, Sportsbet, and Unibet – have pledged more than AUD 3 million ($1.97 million) to support financial counseling services over three years. Responsible Wagering Australia announced this joint initiative, noting it was another significant milestone in its mission to protect consumers. The […]
Industry
November 21, 2023
Star Entertainment Group and NSW Government Negotiate New Casino Duty Rates
Talks between the beleaguered operator and the NSW Government concluded in a compromise, significantly reducing the originally envisioned levy increases. However, the planned duty rate hikes will further strain Star Entertainment’s efforts to recover from the wake of its money laundering scandals and regain the trust of consumers and regulators. The Operator Is Yet to […]
