R92 Gambling Activities

Ex-Star boss denies police warning on Suncity crime links

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Original article by Glen Norris
The Australian – Page: Online : 14-Mar-25

The Australian Securities & Investments Commission is taking legal action against a number former executives and directors of Star Entertainment in the Federal Court. ASIC is alleging they breached their duty of care in relation to money laundering controls at its casinos, with former Star CEO Matt Bekier giving evidence on Thursday. Bekier told the court that he was not concerned by an email from chief casino operator Greg Hawkins that police had excluded six people associated with Suncity from its Sydney casino, possibly because of links to organised crime, with Suncity being Star’s biggest junket operator. Bekier said he thought that if the police had genuine concerns about the people that they would raised it with Star, rather than "just excluding people without telling us the reason".

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION,(SPACE)THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR,(SPACE)FEDERAL COURT OF AUSTRALIA

Labor urged to outlaw betting rewards luring Australians into gambling

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Original article by Josh Butler
The Guardian Australia – Page: Online : 9-Jul-24

The Alliance for Gambling Reform contends that "bonus bets" and cashback offers by gambling companies are luring people into problem gambling, and it has called on the federal government to ban such inducements. The Alliance contends that gambling companies market such inducements in a way that suggest they encourage prudent betting, but that evidence suggests that uptake of inducement offers is actually linked to more harmful betting behaviours. A 2023 parliamentary committee chaired by the late Peta Murphy called for the government to ban all online gambling inducements and inducement advertising "without delay". but to date no such ban has been implemented.

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ALLIANCE FOR GAMBLING REFORM

A third of Australian bets found to be placed by problem gamblers amid warning of predatory industry

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Original article by Paul Karp, Josh Butler
The Guardian Australia – Page: Online : 25-Jun-24

Research undertaken by Roy Morgan and released by the Alliance for Gambling Reform has revealed that 15.5 per cent of Australians had a bet in the 12 months to March, more than double the seven per cent found to have bet between April 2019 and March 2020. Roy Morgan also found that third of spending on bets is placed by people with a gambling problem, despite problem gamblers representing just 10 per cent of punters. Commenting on Roy Morgan’s findings, Alliance for Gambling Reform interim CEO Martin Thomas says they highlight how a "predatory online gambling industry is ensnaring a whole new generation into gambling".

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ROY MORGAN LIMITED, ALLIANCE FOR GAMBLING REFORM

Crown keeps licence but will never be too big to fail

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Original article by Gus McCubbing
The Australian Financial Review – Page: 13 : 27-Mar-24

The Victorian Gambling & Casino Control Commission has ruled that Crown Resorts is entitled to retain its exclusive casino licence in Melbourne. The VGCCC’s chair Fran Thorn says it is satsified that the systemic failings of Crown’s Melbourne casino are a thing of the past. However, she has put the private equity-owned company on notice that it will continue to be under scrutiny and will face the "full extent of the law" if it reverts to the conduct that prompted a royal commission and the appointment of a special monitor to oversee its operations for the last two years. Crown’s casino licence in Melbourne had been at risk in the wake of revelations that it had breached anti-money laundering and counter-terrorism laws.

CORPORATES
CROWN RESORTS LIMITED, VICTORIAN GAMBLING AND CASINO CONTROL COMMISSION

Star facing second Bell probe into Sydney licence

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Original article by Glen Norris
The Australian – Page: 13 & 16 : 20-Feb-24

The NSW Independent Casino Commission has appointed Adam Bell SC to conduct a second inquiry into the Star Entertainment Group’s suitability to operate its Sydney casino. Nicholas Weeks has been running the casino as an independent manager since October 2022, after Bell’s first inquiry into Star found it had set up an "inherently deceptive and unethical process". Weeks’s appointment was extended for a second time in December 2023, and NICC chief commissioner Philip Crawford says that was because it was not satisfied Star was "progressing its remediation in a timely fashion". Bell’s second inquiry is due to run for 15 weeks, with his final report to be handed to the NICC by 31 May.

CORPORATES
THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR, NEW SOUTH WALES. INDEPENDENT CASINO COMMISSION

Bookmaker may be buying time on historic payout, racing CEO says

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Original article by Mark Di Stefano
The Australian Financial Review – Page: Online : 4-Oct-23

Online bookmaker Betr is having to pay out upwards of $40 million in the wake of Penrith’s win in the NRL Grand Final. It had run a promotion that allowed new customers odds of 100-1 on a number of major events including the NRL Grand Final, with a maximum bet of $10. Over 320,000 took up its offer, with bets on Penrith by far the most popular. With Betr stating it could take up to a week to pay all the money into customer accounts, Racing Queensland CEO Jason Scott has suggested it is buying time. Scott, who was formerly the CEO of wagering firm Ladbrokes, contends people are less likely to take money out of their account if a deposit comes in just before a big weekend of racing.

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BETR,[SPACE]RACING QUEENSLAND LIMITED,[SPACE]LADBROKES

BOOKMAKERS (GAMBLING) – AUSTRALIA]

Crown and AUSTRAC agree $450m fine

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Original article by Zoe Samios
The Australian Financial Review – Page: 15 & 22 : 31-May-23

A Federal Court hearing is scheduled for mid-July to consider a proposed settlement between Crown Resorts and Austrac over breaches of anti-money laundering and counter-terrorism financing laws. Crown has agreed to pay a fine of $450m, which would be the amongst the highest penalties imposed in Australia’s corporate history, and the largest incurred by a casino operator anywhere in the world. Crown has also agreed to a number of admissions, including failing to appropriately assess the money laundering and terrorism financing risks that its casinos faced.

CORPORATES
CROWN RESORTS LIMITED, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, FEDERAL COURT OF AUSTRALIA

Packer’s Crown payday set for June 24

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Original article by Lucas Baird
The Australian Financial Review – Page: 15 : 16-Jun-22

The Federal Court has approved the $8.9bn acquisition of Crown Resorts by private equity firm Blackstone. Crown’s major shareholder James Packer will receive about $3.3bn for his stake in the casinos group. The sale of Crown signals the end of a turbulent period for Packer, who was forced to abandon a deal to sell a large stake in Crown to Melco Resorts in 2019. Scrutiny of that deal subsequently result in a NSW Independent Liquor & Gaming Authority investigation into allegations that Crown had breached anti-money laundering laws, and similar probes in Victoria and Western Australia.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, THE BLACKSTONE GROUP LP, FEDERAL COURT OF AUSTRALIA, NEW SOUTH WALES. INDEPENDENT LIQUOR AND GAMING AUTHORITY

Casinos need separate watchdog: O’Neill

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Original article by Jared Lynch
The Australian – Page: 15 : 26-May-22

The Star Entertainment Group’s outgoing executive chairman John O’Neill has expressed support for a new regulatory body specifically to monitor casinos. He has told an inquiry into Star’s suitability to hold its NSW casino licence that the Independent Liquor & Gaming Authority cannot be expected to oversee and monitor two casinos and every pub and club in the state. O’Neill added that investors have indicated that they are in favour of better regulation of large listed companies. O’Neill recently announced that he will step down from The Star’s board.

CORPORATES
THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR, NEW SOUTH WALES. INDEPENDENT LIQUOR AND GAMING AUTHORITY

Packer’s Crown influence extinct

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Original article by Paul Garvey
The Australian – Page: 13 & 17 : 3-Feb-22

The Western Australian government’s royal commission into Crown Resorts’ casino in Perth has commenced hearing the closing submissions. James Packer’s legal representative Noel Hutley SC told the inquiry that imposing a shareholding cap on Crown would affect the company’s ability to raise capital. Concerns have also been expressed that such a cap could potentially prompt private equity firm Blackstone to withdraw its $8.9bn takeover bid from Crown. Hutley has also told the inquiry that Packer no longer has any influence over Crown or its casinos. Packer’s family company Consolidated Press Holdings has a 37 per cent stake in Crown.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, THE BLACKSTONE GROUP LP, CONSOLIDATED PRESS HOLDINGS LIMITED