Author: Olivia Cole

Minister for Gambling and Lotteries John Whittingdale has revealed that the Government is set to launch an independent review to examine the circumstances associated with the recent collapse of Football Index. The Minister shared that an independent expert is set to be appointed in order to consider and evaluate the circumstances that led to the failure of the gambling company, which has resulted in catastrophic amounts of money lost by thousands of customers. Furthermore, the action taken by the UK Gambling Commission (UKGC) against the operator will also be evaluated…

On Tuesday, the British bookmaker William Hill announced that the court had cleared its £2.9 billion takeover by the major US casino company Caesars Entertainment. The court’s decision was made despite the disapproval of the deal by some shareholders. The minority shareholder HBK had shared concerns about the merger deal due to disclosures related to the takeover deal. HBK’s disapproval of the merger was also supported by the US hedge fund GWM Asset Management. Both of them addressed the issue in a statement to the board, pointing out the lack…

The global investment company Oaktree Capital Group offered Australia’ Crown Resorts Ltd its help in buying back Packer’s share for AU$3 billion. This move meant a competition between Oaktree and its rival Blackstone Group which has also made a proposal for Crown’s buyback. Oaktree’s offer to help Crown with buying the billionaire’s share came just one month after Blackstone made a full takeover proposal for AU$8 billion. Crown said it will consider both offers but did not specify what type of benefit would Oaktree receive if the casino accepts its…

The gambling regulatory body in New South Wales (NSW) has made the billionaire investor of Crown Resorts agree to a number of measures aimed at eliminating his influence over the gambling operator at a time when he is still the company’s biggest shareholder. Commissioner Bergin’s probe into the Australian gambling giant came to the conclusion that Crown Resorts was unsuitable to keep its Barangaroo casino licence, partnered with Asian junket operators linked to criminal organisations and violated anti-money laundering rules at its Melbourne and Perth casinos. At the time when…

The sports betting and gaming entertainment giant Entain revealed it has launched a Group-wide employee share ownership plan that would provide its colleagues in the UK and worldwide with the chance to share its global businesses’ growth and success. Now, about 22,500 employees at all levels of the business are given the chance to apply to join the ShareSave plan of the gambling operator. As the company itself revealed, in the UK, where Entain currently holds a total of 1,885 Ladbrokes and Coral high-street betting shops, almost 14,000 retail colleagues…

SkyCity Entertainment Group revealed that it decided to cease its collaboration with so-called junket operators that attract high-roller players to the company’s casinos in Australia after local regulatory bodies have shared their concerns about alleged links of junkets to organised crime at another casino giant, Crown Resorts. As part of its decision, SkyCity is changing its operating model. The gambling operator further revealed that it will deal directly with its international business customers. The company’s board of directors shared that SkyCity Entertainment is aimed at first satisfying the customer due…

The private equity firm Blackstone Group has added more conditions to its proposal to take over the Australian gambling giant Crown Resorts. The acquisition bid of the company was announced in March 2021. The acquisition offer includes several conditions, including the implementation of a binding Implementation Agreement and a number of terms under a Regulatory Approval Condition, with the latter seeking to make sure that Crown Resorts would be fit to operate its gambling facilities in Sydney, Melbourne and Perth under the ownership of New York-based Blackstone Group. According to…

Reportedly, an independent probe is to be rolled out after British gamblers lost a staggering amount of £100 million in what has been referred to as the largest gambling firm scandal in the entire history of the UK gambling industry. The massive losses of British football fans were generated after Football Index fell into administration, with questions regarding the way it was regulated also emerging. As The Times reported, some Members of Parliament are “deeply concerned” at the failure of the gambling company that used to promote itself not as…

Earlier this week, it was reported that the National Lottery decided to remove its online £10 Instant Win Games because of some concerns associated with problem gambling and gambling-related harm. As disclosed by The Telegraph, a 2020 research held by the UK Gambling Commission (UKGC) suggested there could be a link between gambling addiction and higher-priced games. After that, these games were withdrawn from sale. Reportedly, the National Lottery, which is currently run by Camelot, has doubled its income generated from such games in just a couple of years. Online…

A blackjack gambler has won his High Court battle against the online gambling company Betfred after the operator refused to pay out the £1.7-million jackpot he had won. The 54-year-old Andrew Green has spent three years fighting with the gambling company to receive the seven-figure prize he won while playing the Magic Seven game on his phone in January 2018. At the time, he was congratulated by a member of Betfred’s staff on winning the jackpot, only five days later the betting operator informed Mr Green that it would not…