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Casino
July 1, 2020
Star Entertainment Released an Update on Property Reopenings, Relaxing COVID-19 Restrictions
The Star announced an update on its property reopenings which includes relaxing of COVID-19 measures. The announcement also shed a light on The Star Sydney performance during the last month. The operator said that its Queensland properties will reopen on July 3. The Star Sydney Can Welcome up to 5,000 Guests at Any Time as […]
Business
June 2, 2020
Star and NSW Government Reach a 20-Year Agreement, EGMs and Tax the Focus
Gaming and hospitality operator The Star Entertainment Group announced Monday it signed an agreement with the New South Wales Government to ensure regulatory certainty regarding protecting the exclusivity of its The Star Sydney casino in terms of providing electronic gaming machines (EGMs). As part of the agreement, a flat tax rate as a percentage of […]
Business
April 30, 2020
Flutter Entertainment and The Stars Group Set Merger Date for May 5
Paddy Power Betfair parent company Flutter Entertainment is drawing closer to the long-anticipated merger with The Stars Group (TSG). After shareholders from both companies have approved the move and regulators have given their go-ahead, the merger will be completed on Tuesday, May 5. This will conclude the process that began back in October 2019, when […]
Business
April 16, 2020
Star Entertainment and Crown Resorts Cut Executives Pay
Australia’s largest casino operators, The Star Entertainment Group and Crown Resorts, have adopted measures to weather the COVID-19 occasioned lockdown without taking too much of a financial hit. Crown Resorts and The Star Entertainment Group Updated Securities Filings Australian casino giants have taken serious pay cuts across their executive staff to help weather the coronavirus […]
Business
March 31, 2020
Flutter Clears CMA Phase One Regulatory Hurdle For TSG Merger
The mega-merger deal between Irish-based Flutter Entertainment and Canadian-headquartered The Stars Group /TSG/ has moved one step ahead as the Competition and Markets Authority /CMA/ in the UK has given “unconditional phase one clearance” to the proposed combination. The owner of Paddy Power Betfair exchange, Flutter Entertainment, and the owner of Sky Bet, The Stars […]
Casino
March 16, 2020
Australian Casinos Take Steps to Prevent Spread of Coronavirus
The world is still struggling to contain the ongoing coronavirus outbreak and we have already beginning to see several industries taking a hit. The gambling industry has been one of the most affected ones particularly due to the recent calls for social distancing and recommendations that have been made against large social gatherings. Macau, one […]
Business
February 27, 2020
The Stars Group 2019 Financial Report Posted $2.53Bn Total Revenue
The Stars Group /TSG/ 2019 financial results report released today showed the company had a strong performance in two specific geographic markets, Australia and the UK. The Stars Group, the company that is currently merging with owner of FanDuel and Paddy Power Betfair, the US-based Flutter Entertainment, showed a 24.6% year-on-year increase in revenue and […]
Legal
February 19, 2020
Flutter TSG Merger Given The Go Ahead In Australia
FanDuel and Paddy Power Betfair owner, Flutter Entertainment, has announced their merger with the Stars Group has got an informal go-ahead from the Australian Competition and Consumer Commission, with the final outcome of the deal still pending on the approval from the Australian Foreign Investment Review Board and a number of international regulatory bodies where […]
Business
February 5, 2020
Flutter Entertainment, TSG Merger to Be Examined by UK’s CMA
As Flutter Entertainment and The Stars Group edge closer to their merger, competition authorities in the United Kingdom have said that they would now want to review the deal and gauge its impact on markets in the country. Competition and Markets Authority to Review Flutter Entertainment, TSG Merger Flutter Entertainment, owner of flagship gaming and […]