Company Reports

Some market experts have noted that it would be too brave to suggest that affluent Chinese customers, some of whom are multi-millionaires, would be coming back to Australian casinos to gamble any time soon. Two of the main casino groups in the country – Crown Resorts and Star Entertainment – have been benefitting from so-called high-rollers, or VIP customers for years, but unfortunately, it seems that affluent players are not coming back with the pace that was expected after the implementation of more relaxed measures associated with the Covid-19 pandemic.…

The South Sydney Rabbitohs are set to participate in the season-opening of the National Rugby League (NRL) in Las Vegas although it was found to have received money from the Reclaim the Game initiative that was specially designed by the New South Wales (NSW) Government to offset sports betting and its effects. Reportedly, anti-gambling campaigners have described the situation as “laughable”. Earlier in August, the Rabbitohs were named as one of the four clubs set to participate in the venture at Las Vegas-based Allegiant Stadium on March 2nd, 2024, alongside…

Crown Resorts’ casino based in Sydney is facing a daring challenge to diversify its profits by introducing new forms of gambling. Due to economic conditions, the company is forced to cease the operation of one of its casino floors, causing the unemployment of almost 100 people. According to the gaming juggernaut, the reason for the closing of its casino floor was “macro-economic challenges”. One of Crown’s two casino floors in Sydney was forced to close down only one year after it had started its operation in Sydney’s tallest skyscraper. The…

The Australian arm of the corporate investigation and risk management company Kroll Incorporated was hired to evaluate and possibly revise SkyCity Adelaide’s programmes in an attempt to improve the anti-money laundering (AML) controls implemented by the gambling company. Kroll Australia’s appointment was announced earlier this morning by the SkyCity Entertainment Group. The decision to appoint the leading third-party risk assessment company was made by the Liquor and Gambling Commissioner, who regulates gaming activities in South Australia. The newly unveiled appointment will see the Sydney-based advisory firm assess the AML and…

Gambling giant SkyCity Entertainment has reported a strong recovery as the lifted Covid-19 restrictions resulted in open borders and a more relaxed operational regime, although the provisions for possible penalties linked to its casino in Adelaide have influenced its bottom-line performance. The company revealed that it was now in a “turnaround phase” as its results have been well up on its performance in the previous year. SkyCity Entertainment’s chief executive officer Michael Ahearne reported that the operator’s business was now back on track in comparison to its pre-Covid-19 levels, with…

Today, the Advertising Standards Authority (ASA) published another ruling as part of a wider piece of work aimed at suspending unlawful gambling adverts that fail to comply with enhanced regulatory rules that aim at protecting under-18-year-olds from being involved in gambling activities. The advertising watchdog announced that it did not take down a William Hill advert that was identified for investigation after the body’s Active Ad Monitoring system gathered some evidence that the online ad might have breached the country’s gambling advertising rules. As revealed by the ASA, a promoted…

The National Lottery of New Zealand has announced Scientific Games as its preferred new provider of systems technology. As a result, Lotto NZ revealed that the provider is set to introduce its next-generation technology across the country’s National Lottery, replacing the latter’s already existing core gaming system and online gaming system. The implementation of Scientific Games’ solution will provide Lotto NZ with a retail point-of-sale technology, a retail lottery system, a digital content aggregation center point, and an online lottery platform. As revealed in the recent announcement, under the terms…

It seems like the Star’s Wharf Brisbane Casino project will be further delayed over a dispute between the development company and the casino’s main contractor. Star Entertainment Group is the holder of a 50% stake in the Destination Brisbane Consortium, with the remaining shares being held by Hong Kong-based Chow Tai Fook and Far East Consortium, each of which holds a 25% stake. On Monday, the biggest shareholder, Star Entertainment, announced that contract builder Multiplex Constructions Qld Ltd. has issued an originating process in the Supreme Court of Queensland against…

ASX-listed sports betting provider BlueBet is facing charges for unlawful gambling advertising on billboards in Victoria. The state’s regulator, the Victorian Gambling and Casino Control Commission (VGCCC), released an official statement yesterday, revealing details about the charges pressed against the betting company. According to the watchdog, the operator suffered charges for 43 separate breaches of the state’s Gambling Regulation Act 2003. The betting firm has allegedly violated Section 4.7.1 of the legislation, which stipulates that it is an offence to display gambling-related advertisements in certain public spaces, including on public…

The gambling regulatory body of New South Wales continues to hold sports betting operators accountable for alleged lack of compliance with the state’s laws. Since 2016, Liquor and Gaming NSW has issued fines for illegal gambling advertising worth more than AU$1.1 million (AU$830,000 worth of fines and penalty infringement notices worth AU$270,000), with another online bookmaker having been recently convicted and fined. Amid a wave of ongoing reforms, the NSW gambling watchdog has handed an AU$20,000 fine to online sports betting operator Bet Right for illegally offering boosted odds. As…