Company Reports

Dr Quirkey’s Good Time Emporium, an operator of an arcade and casino enterprise on O’Connell Street in Dublin, has fallen victim to an alleged fraud. The business is currently owned by Richard Quirke, who has long been linked to plans for a major €480-million development at Co Tipperary’s Two Mile Borris. Mr Quirke, 75, has managed to build up a considerable fortune from his casino business in Dublin, with his shareholder funds in the operation with more than €33.5 million. Most of the company’s wealth is concentrated mostly in property…

PointsBet’s board of directors turned down a takeover offer exceeding AU$220 million that was made in partnership between News Corporation and Matthew Tripp. According to industry sources familiar with the matter, who asked not to be named because the negotiations were confidential, about a fortnight ago PointsBet’s board, which is currently headed by Brett Paton, a former UBS banker, rejected a non-binding indicative acquisition offer from a consortium led by Rupert Murdoch’s News Corp Australia. The bid, which they said was worth between AU$220 million and AU$300 million, was not…

The US private equity firm Blackstone has gotten a bit closer to completing its planned acquisition of Crown Resorts after it was tagged as suitable to hold a casino licence by gambling regulators in the states of Victoria and New South Wales (NSW). The regulatory approval basically means that Blackstone has managed to pass an important step toward the completion of its bid to own and operate the Barangaroo casino of Crown Resorts. According to the chair of the NSW Independent Liquor & Gaming Authority (ILGA), Philip Crawford, the US…

Earlier this week, the online gambling content provider Skywind Group revealed that it is to expand its presence in the UK as it finalised the takeover of award-winning tech company Intouch Games Group. Established by a number of industry veterans back in 2012, Skywind Group is currently known for offering content and high-performance online gambling solutions to major regulated markets on a global scale, including Asia, Europe and Latin America. The company offers a vast variety of products and features, including slot games, live dealer games, sports and engagement tools,…

A cabinet minister has explained that the UK Government will not use public funds to compensate customers of the failed gambling service Football Index, which collapsed in March last year. On June 7th, the Government’s Under-Secretary for the Department for Digital, Culture, Media and Sport (DCMS), Nigel Huddleston, addressed a special parliamentary debate associated with the impact that the Football Index platform’s collapse had on local users. During the debate, a number of Members of Parliament shared distressing stories about some of the gambling website’s users who were left devastated…

The cabinet of New South Wales (NSW) has decided to delay its long-awaited ruling about whether to allow the struggling casino giant Crown Resorts to open the gaming floor of its Sydney Barangaroo resort. Now, the once James Packer-related Australian casino company will have to wait for at least two more weeks to see whether the NSW Government will finally approve a deal struck with the state’s gambling regulatory body or not. Several days ago, information that Crown Resorts may soon be allowed to start the operation of Crown Sydney…

Lotto New Zealand has shared that the implementation of a third weekly draw could take up to 5 years. Reportedly, the organisation has filed expression of interest documents regarding the potential suppliers of a replacement to the Lottery’s system. The aforementioned change includes possible plans for games in the future years, including the proposed implementation of a third draw and expanding the online offering of the Lotto. Lotto New Zealand has now explained that any of the changes would need at least 18 months, if not even longer to be…

Star Entertainment’s senior management seems to have not been informed about the ongoing operations of the company’s Sydney casino with a controversial junket company. According to reports, bank inquiries associated with overseas transactions faced a delay, while the Australian gambling giant rushed to investigate the issue. It now turns out that the testimony given by Star Entertainment officials during the investigation of the New South Wales (NSW) gambling authority could also be inconsistent with some documented evidence regarding a loan provider used by the company. Lawyers, who have assisted the…

According to the latest reports, the almost-AU$80-million monetary penalty that was faced by the Melbourne casino of Crown Resorts would hardly have an immediate negative impact on the property’s financial profile. The leading provider of credit ratings, commentary, and research for global capital markets Fitch assessed the fine and its expected effects after the Victorian gambling regulatory body imposed the monetary penalty and, eventually, established that the Australian gambling giant is unlikely to suffer a lot from the ruling. The note released by the credit rating agency earlier this week…

The Jersey Gambling Commission named Adam Cole, the founder and former CEO of Football Index, as persona non grata. In an official statement, the regulatory body cited Mr Cole’s past record as the main reason for its decision to do so and further revealed that as a result of the ruling, he would no longer be able to hold a position with any entity that holds a Jersey Gambling Commission-issued licence. The regulatory body backdated its announcement to April 6th, which is also the original date since the former Football…