Company Reports

The Department of International Affairs (DIA) discovered that the lottery in New Zealand was granting its payouts based on an “incoherent” system that was showing a clear bias towards specific communities. While billions of dollars generated from the Lotto were going to more favoured sectors, minority groups like Māori and Pasifika were left neglected. These revelations followed the first DIA review of the structure of the lottery grant system. The documents that were released during the inquiry showed that the majority of the lottery profits was used to fund bigger…

This week, the British gambling company Metropolitan Gaming announced that it will sell its South Africa-based Emerald Resorts and Casino. Metropolitan Gaming, which currently operates a total of 11 casinos in its domestic market in the UK, as well as in South Africa and Egypt, has made the decision to dispose of the aforementioned property in a move aimed at helping it focus on further growth opportunities in other markets. The company has also shared hope that it will be able to make its business more efficient by providing more…

The owner of the Ladbrokes and Sportingbet brands has been put under investigation by the Australian authorities over alleged breaches of counter-terrorism financing and anti-money laundering rules. As revealed earlier this week, the Australian Transaction Reports and Analysis Centre (AUSTRAC) and the Australian Transaction Reports bodies have put Entain Group under scrutiny following an extensive supervisory campaign that evaluated companies operating in the corporate bookmakers sector. As a result of the investigation, the company’s shares experienced a 1.4% drop, making Entain Group the biggest blue-chip faller in early trading on…

The Star Entertainment Group has been found unfit to hold an operating licence for its casino in Sydney after some damning pieces of evidence were presented to the investigation. The probe into the Australian gambling giant, led by Adam Bell SC, was carried out earlier in 2022 and heard allegations of links to organised crime, money laundering, and fraud at the company’s casino in Pyrmont. As revealed by the boss of the NSW Independent Casino Commission, Philip Crawford, the report detailed that the harm minimisation measures taken by the Star…

The trading of The Star Entertainment Group’s shares has been placed on a halt pending the official release of Adam Bell SC’s report into the suitability of the company to hold a casino operating licence in New South Wales (NSW). The gambling giant sought the halt after a publication of The Australian that claims that the review of the state’s gambling regulatory body – NSW Independent Liquor Gaming Authority (ILGA) – has found that the company should eventually lose its operating permit in the state unless massive reconstruction of its…

Crown Resorts has disagreed with the claims of the former Australian Football League (AFL) star Wayne Carey about the recent incident when a small bag of white powder allegedly fell from his pocket while he sat at a gaming table at Crown Perth. The CEO of the Australian gambling and casino giant – Ciarán Carruthers – revealed that both witnesses of the incident and casino staff members claimed that Mr Carey did not offer the bag of white powder to casino security after it fell onto a gaming table on…

The first week of the tenure of Crown Resorts’ new boss, Ciarán Carruthers, saw the chief executive officer make an announcement that the Australian gambling giant will cut its involvement with notorious junket operators. According to Mr Carruthers, the “old junket model” that the company used will no longer be. The operator’s new CEO shared that he wants to see Crown Resorts attract tourists from all over the globe, rather than focusing mostly on affluent Chinese high-roller customers. Carruthers, who previously served as the CEO for Wynn Macau for five…

Camelot UK has dropped its appeal against the legal ruling regarding the procedure of handing over the operating licence for the UK National Lottery to its competitor Allwyn. The incumbent operator of the National Lottery has run it since the official launch of the service in 1994. Camelot has now decided to withdraw its legal challenge against the UK Gambling Commission (UKGC) that would have resulted in the lawsuit going to the court of appeal in the week to follow. The company shared that it would cooperate with the gambling…

The regulatory and enforcement pressure on Australian gambling giants has continued to increase over the last few months. State authorities have started inquiries and investigations into the biggest casino and gambling companies in the country – Crown Resorts and its local competitor Star Entertainment – placing legal hurdles for their businesses to continue operating in Australia. In fact, the last couple of years have been particularly hard for the companies, after the two aforementioned companies faced some allegations of links to criminal organisations, money laundering, social responsibility issues, poor corporate…

The crypto gambling operator that is a sponsor to the English Premier League (EPL) football club Everton F.C. – Stake UK – has faced legal action worth £346 million. The lawsuit has been filed by an ex-business partner of the crypto gambling company’s co-founders who has alleged that they stole money from him and forced him out of the business. As revealed by The Guardian, court filings say that the Florida resident Christopher Freeman now claims that he was closely involved with Primedice, the company preceding Stake. Its current value…