Legal
May 25, 2022
VGCCC Announced EGM Rules at Crown Melbourne
The Victorian Gambling and Casino Control Commission (VGCCC) has prepared a new set of restrictive regulations at Crown Melbourne. This comes after Crown Resorts announced its interest in better understanding what the newly imposed electronic gaming machines (EMG) tax levy would mean for its operations. The tax would generate up to AU$30 million ($21.3 million) […]
Business
May 24, 2022
Crown Resorts’ $6.5B Acquisition Pending Final Court Hearing
Australian land-based casino operator Crown Resorts announced in a filing with the Australian Securities Exchange (ASX) today that it has filed materials conccerning the proposed acquisition by Blackstone with the Federal Court of Australia. Final Court Hearing Date Pending Last week, Crown Resorts shareholders voted to almost unanimously approve the proposed transaction by way of […]
Legal
May 24, 2022
New Legislation Proposes Tough Gambling Regulation in Victoria
A new legislative proposal in Victoria, Australia, introduced by lawmakers is pushing for tough gambling rules seeking to minimize gambling harm. A Proposal Empowers the New Gambling Watchdog in Victoria The new regulation seeks to empower the recently created Victorian Gambling and Casino Control Commission (VGCCC). The new government entity will take over the responsibilities […]
Casino
May 23, 2022
Star Entertainment Appoints New Acting CEO, Interim Chairman
Tumultuous times are still holding Star Entertainment Group executive lineup captive. In light of an ongoing regulatory review, multiple C-level employees departed. After John O’Neil stepped down last week, news of fresh appointments followed shortly after. The new interim chairman Ben Heap and new interim CEO Geoff Hogg were previously director and chief casino officer […]
Industry
May 23, 2022
Reset App Allows Victorian Bettors to Be in Control
Bettors in the state of Victoria, Australia, have another tool to help them keep their gambling habits in check. Thanks to a new app, local punters can get in control of their spending behavior and prevent gambling harm. Reset Provides the Help Victorian Bettors Need The application is called Reset and provides a much-needed self-help […]
Industry
May 20, 2022
Tabcorp’s Lottery & Keno Demerger Greenlit by Court
At the end of March, Australia’s lottery operator Tabcorp announced its lottery and keno demerger will be subject to a shareholder’s vote. On May 12, its shareholders showed overwhelming support for the proposal, with close to 99% of all votes expressed during the general meeting favoring the demerger, around 0.17% of votes going against it, […]
Industry
May 20, 2022
O’Neill Steps Down as Star’s Executive Chairman
At the beginning of the month, ex-rugby star and Star Entertainment chairman of Star Entertainment Group John O’Neill announced he would temporarily take over the managing director and chief executive officer position. Now, O’Neill announced his resignation just days before a public hearing where he will testify in regards to the group’s casino in Sydney. […]
Industry
May 20, 2022
Crown Investors Approve Blackstone’s Takeover Bid
As Blackstone prepares to acquire Crown Resorts, the casino company inquired about its investors’ opinion on the deal. As it turns out, most of them support the takeover. Crown’s Shareholders Approve the Scheme Blackstone, an American investment management company, announced its intentions to acquire Crown Resorts. The Australia Foreign Investment Review Board reviewed the deal […]
Business
May 19, 2022
Aristocrat Leisure Fiscal H1 Net Profit Up 48%, Dividends Confirmed
Australia’s famed gambling machine manufacturer Aristocrat Leisure made their Interim Results Announcement and their results are looking “outstanding” as per their own words. The stellar half-year numbers and share prices of Aristocrat have jumped more than 6% at the time of writing. Aristocrat Sees Strong Half-Year Results As per Aristocrat’s 2022 Half-Year Media Release, the […]
Legal
May 18, 2022
NSW Regulator Wants to Raise Fines for Illegal Ads
Liquor and Gaming New South Wales, the state’s regulator, appealed for a raise in the maximum fines for faulty gambling advertising. The authority seeks to discourage the NSW licensees from posting ads that are in breach of the regulations. NSW’s Regulator Believes Fines Are Too Low According to the current laws, operators risk a maximum […]
