Industry
November 2, 2021
Flutter’s Q3 2021 Trading Update Reveals Cracks in the Armor
Global gambling group Flutter Entertainment announced a third-quarter trading update today, posting a strong performance and 9% growth mostly driven by sports. However, the markets were unimpressed, and the FTSE100-listed company stock fell 7.3%. Overall Flutter Entertainment’s unaudited results for the quarter ended September 30, 2021, revealed revenues of £1.439 billion ($1.967 billion), an increase […]
Legal
November 2, 2021
NSW: Alleged Drug Dealer Cuts off Electronic Bracelet and Vanishes
Police authorities in Sydney are now on a local and international hunt for an alleged drug trafficker who disappeared days after he was granted bail. Although the suspect put up a million-dollar property as surety, he is nowhere to be seen since last week. Suspected Drug Kingpin Cuts off Electronic Bracelet Mostafa Baluch, age 33, […]
Business
November 2, 2021
James Packer Admits His Absence May Have Led to Crown Resort’s Issues
James Packer, the founder and former chairman of Crown Resorts, admitted that during the time he ran the company, there were many oversights which were the result of not complying in part or fully with the requirements which came as a result of missing board meetings for four years. Officials became aware last Friday of […]
Business
October 29, 2021
Crown Reaches $94.3 Million Settlement on Class-Action Suit From 2017
Crown Resorts finally reached an agreement concerning the shareholder class-action that dates back to December 4, 2017, when it was commenced in Australia’s Federal Court. The case was referenced as “Zantran Pty Limited v Crown Resorts Limited, Federal Court Proceeding VID 1317/2017,” and the total settlement, interests and costs included, is $94.3 million (AU$125 million). […]
Business
October 28, 2021
PointsBet: Q1 FY2022 Generated 42% Turnover Increase
Australian sports betting and gaming operator PointsBet released today its fiscal year 2022 first quarter report (Q1 FY2022), posting exceptional performance across its core markets. PointsBet registered growth across all key metrics as on its domestic Australian market, as well as in the US. Turnover for the three-month period ended September 30, 2021, was AU$979.9 […]
Business
October 28, 2021
Star Entertainment Signs Leaseback Deal for Treasury Casino
Star Entertainment has entered a new sale-leaseback deal that mirrors one it recently launched for The Star Sydney. The latest involves the Treasury Casino and Treasury Hotel in Brisbane, which comes as the casino operator prepares to launch its new Queen’s Wharf property in a couple of years. Star Entertainment Reshaping Operations Star announced recently […]
Legal
October 27, 2021
Problem Gambler Loses $539K, BetEasy Receives a $40,200 Fine by Watchdog
The Northern Territory Racing Commission released a decision regarding issues with a problem gambler that was able to start betting again. The case dates back to 2019 but a decision on the matter was released last week. Problem Gambler Loses $539K, Seeks to Recover Them from Operator The person involved in the situation was referred […]
Business
October 26, 2021
Crown Resorts Learns its Fate in Victoria after Loss in New South Wales
Crown Resorts continues to be in the hot seat in Australia, accused of egregious violations of existing financial and gambling regulations. It has already seen its casino license in New South Wales (NSW) suspended by regulators following an extensive investigation, and has faced similar scrutiny in Victoria and Western Australia (WA). While WA has requested […]
Casino
October 21, 2021
ACMA Blocks Five More Offshore Gambling Sites in Australia
The Australian Communications and Media Authority (ACMA) is not slowing down in restricting access to offshore gambling in the country, an industry that has been thriving for years before ACMA decided to take action a few years back. ACMA has requested from internet service providers (ISPs) to suspend access to five new offshore websites, including Fight Club, Kim Vegas, […]
Business
October 21, 2021
Crown Resorts Shareholders Reject Exec Bonus Deal, but Board Remains in Place
Certain Crown Resorts executives aren’t feeling a lot of love from company shareholders. The embattled casino operator, once Australia’s gambling darling, is on the verge of losing it all in the country and shareholders expect the company’s leaders to feel the sting. A vote today could have authorized millions of dollars in bonus cash, but […]