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Business
January 8, 2025
Tipico to Acquire Admiral Austria, Bolstering European Presence
Gaming technology group NOVOMATIC AG has agreed to sell its Austrian subsidiary, ADMIRAL Austria, to the Malta-based Tipico Group. This mutually beneficial agreement should help Novomatic expand its global presence while strengthening Tipico’s market share in its core jurisdictions. Both companies were optimistic regarding the sale as they remain confident in their continued growth. The […]
Industry
December 27, 2024
University of Sydney’s Gambling Company Investments Raise Eyebrows
The University of Sydney faces questions about its stakes in big-name gambling businesses, including Aristocrat, which leads the world in making poker machines, and Entain, a major player in global sports betting. Documents Show University of Sydney Invested in a Few Major Gambling Firms Papers obtained through freedom of information laws show the university-owned shares […]
Casino
December 24, 2024
JPMorgan Sells Stake in Star Entertainment as Problems Grow
JPMorgan Chase & Co. has sold its stake in Australia’s Star Entertainment Group, according to a regulatory filing on December 23, 2024. This move is big news for the investment bank, which used to own 5.09% of the casino operator’s voting shares. JPMorgan made this choice while Star Entertainment faces financial troubles and regulatory hurdles. […]
Industry
December 19, 2024
Aussie Couple Found Dead, Police Suspects Murder Tied to Gambling Debt
Excessive gambling can lead to addiction which in turn may push people into debt. A young man, who law enforcement suspects accumulated a large gambling debt, was recently found dead together with his wife near an airport in Sydney, Australia. Lifeless Bodies Found in a Park Law enforcement is now looking for two or three […]
Industry
December 18, 2024
Australia Slashes Gambling Operator Tax Benefits to Combat Addiction
In a decisive move, the Australian federal government has announced it will cut off tax incentives to gambling operators for research and development (R&D) activities from 1 July 2025. The change was announced in the Mid-Year Economic and Fiscal Outlook (MYEFO) to ensure taxpayer funds are not used to compound gambling addiction and associated harms. […]
Legal
December 17, 2024
Australian Operators Face Lawsuits for Dealing with International Fugitive
The Star Entertainment Group and Crown Resorts, two Australian casino and hospitality powerhouses, are facing lawsuits for their past dealings with Michael Gu, an international fugitive who was behind one of Australia’s biggest Ponzi schemes. Gu Defrauded Investors of Millions of Dollars Michael Gu, for context, described himself as a high-end property developer. As the […]
Industry
December 17, 2024
New Video Games Classification Helps Parents in Australia
Ahead of Christmas, many parents are likely wondering what the best gift for their children would be. While some may consider toys, others, likely responding to children’s requests, may purchase certain video games. In recent years, the lines between gambling and games have been blurring, especially with the introduction of the popular loot boxes that […]
Business
December 17, 2024
Jefferies Equity Analyst Prepares Investors for Entain AML Fine
At the start of the week, we announced that Ladbrokes and Neds’ operator and global gaming and betting company, Entain Group Pty Ltd, has been hit with civil penalty proceedings in Australia. The action, which followed a series of alleged breaches of anti-money laundering (AML) and counter-terrorism financing (CTF) policies, as described by the Australian […]
Legal
December 16, 2024
Entain Hit With Civil Penalty Proceedings in Australia
The Australian Government agency responsible for deterring, detecting and disrupting financial crimes and organized criminal activities, AUSTRAC (the Australian Transaction Reports and Analysis Centre), announced it initiated civil penalty proceedings against a recognizable betting and gaming operator. The Agency Claims Entain Breached AML, CTF Regulations On Monday, the agency confirmed that Ladbrokes and Neds’ operator […]
Industry
December 12, 2024
Self-Exclusion Program Goes Live in South Australia, ACMA Bans Six Websites
South Australia’s government is launching its Take a Break self-exclusion program following a successful trial. Like other similar programs, Take a Break will encourage riskier users to limit their gambling and get their habits in check. South Australia to Expand Self-Exclusion Campaign The program’s trial saw 31 betting locations across the state put up posters […]
