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Sports
September 20, 2024
Tabcorp Announces Chairman Akhurst’s Departure Amid Financial Struggles
Tabcorp Holdings has made it known that Bruce Akhurst, its chairman, will leave his position after the company’s Annual General Meeting in October 2024. Akhurst has been the chairman since Tabcorp split from The Lottery Corporation in 2021. Tabcorp Reports Huge Net Loss and 57% Drop in Stock Price Akhurst’s exit comes after a tough […]
Industry
September 18, 2024
Australia to Introduce New Guidelines for Games with Loot Boxes and Gambling
Australia has created new classification guidelines for video games that contain gambling-like content. This addition comes amid growing concerns about Australia’s gambling harm rates and worries about potential links between video games containing gambling-like mechanics and gambling addiction. The New Measure Aligns with Australia’s Efforts to Protect Younger Citizens from Harm The new measure would […]
Business
September 18, 2024
VGW Reports Stellar Profits Despite Market Setbacks
Laurence Escalante’s gaming powerhouse, Virtual Gaming Worlds (VGW), has maintained its upward trajectory, booking a net profit of $492 million for the year up to 30 June. This figure represents a 30% climb from last year as the operator realized a record revenue of $6.1 billion. Despite regulatory challenges in its US market, the business […]
Industry
September 16, 2024
Australia’s Annual Losses to Gambling Grow, Hit AU$32bn
Despite concerns about the detrimental impact of gambling activities on people across Australia, significant changes to the sector are still being discussed. Last year, a report into the country’s gambling sector made nearly three dozen recommendations that can help reduce problem gambling and harm, while decreasing the billions of Australian dollars lost to gambling every […]
Casino
September 13, 2024
Star Entertainment Faces Pressure to Address Major Compliance Failures
Star Entertainment Group is under heavy pressure from regulators about its main Sydney casino. The New South Wales Independent Casino Commission (NICC) has given the company 14 days to come up with a plan, reported Bloomberg. This plan needs to show how Star will fix its money and operational problems. This comes after a harsh […]
Industry
September 12, 2024
Australian PM Defends Partial Gambling Ad Ban despite Rising Controversy
Australian Prime Minister Anthony Albanese has defended his government’s partial ban on gambling advertisements, pushing back against calls for a complete ban during question time in Parliament. He responded after the opposition highlighted recent polls indicating most Australians supported a full ban to come into effect as soon as possible. The Government Is Hesitant to […]
Business
September 12, 2024
The Star Entertainment to Receive $100M from Lenders
The Star Entertainment Group is set to receive more backing from its lenders amid the financial trouble it faces. The Australian casino and hospitality giant has been offered AUD 150 million to deal with the issues and stabilize its business. The Star Entertainment Is Struggling Financially The lenders proposed providing AUD 150 million ($100 million) […]
Lottery
September 10, 2024
NSW Lottery Player Buys a Ticket Out of the Blue, Wins AU$2.5M
An incredibly fortunate player from New South Wales, Australia will purchase a brand-new car for his parents after scoring a multi-million-dollar win from Saturday Lotto. The man, whose name was not disclosed, visited the lottery headquarters to claim his prize recently. Saturday Lotto Draw 4499 Produces a Total of Eight Winning Entries The win came […]
Casino
September 10, 2024
The Star Sells Iconic Treasury Building Amid Financial Struggles
The Star Entertainment Group has sold its leasehold interest in Brisbane’s historic Treasury Building to Griffith University. This AUD67.5 million ($45 million) agreement signals a big change for The Star and the university. The casino company aims to raise much-needed money, while Griffith University plans to turn the landmark into a major place of learning. […]
Legal
September 9, 2024
Australian Court Orders Foreign High Roller to Pay Back Gambling Debt
The Supreme Court in Brisbane has ordered high roller Yew Choy Wong to pay back some AUD 38 million to Star Entertainment Queensland. This came in response to the accumulation of significant gambling debt. Wong Accumulated a Debt He Refused to Pay Wong, for context, was invited to the Star Gold Coast casino in 2018. […]
