R92 Gambling Activities

Tatts, Tabcorp bet on $9.4bn link

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 & 22 : 19-Oct-16

Shares in gaming giants Tabcorp Holdings and Tatts Group were placed in trading halts on 18 October 2016, pending an announcement on a potential scheme of arrangement merger. A merged entity would have a market capitalisation of around $A9.4bn and boast annual synergies of about $A100m. It would also be in a stronger position to pursue growth via offshore acquisitions. The two groups shelved a "merger of equals" proposal in 2015 after failing to reach agreement on valuations.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, UBET, DEUTSCHE BANK AG, SUN BETS, NEWS CORPORATION – ASX NWS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Packer bid to unlock Crown value

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Original article by James Thomson, Perry Williams, John Stensholt
The Australian Financial Review – Page: 1 & 10 : 16-Jun-16

The board of Crown Resorts has proposed to restructure the Australian-listed company. The new corporate structure involves the creation of an international holding company which will hold Crown’s stakes in Melco Crown, a US casino and hotel, the Nobu restaurant chain, British casino operator Aspers and Caesars Growth Partners. Crown Resorts will retain its existing local assets, which include casinos and hotels in Melbourne and Perth, the Barangaroo project in Sydney, Betfair Australasia, and stakes in Crownbet and the Ellerston resort in New South Wales. A listed property trust will also be created.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, MELCO CROWN ENTERTAINMENT LIMITED, CONSOLIDATED PRESS HOLDINGS LIMITED, ALON, NOBU, CAESARS GROWTH PARTNERS, ASPERS, BETFAIR AUSTRALASIA PTY LTD, CROWNBET PTY LTD, CROWN TOWERS, CONSOLIDATED PRESS HOLDINGS LIMITED

Tabcorp’s new charges from money-laundering cop

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Original article by Perry Williams
The Australian Financial Review – Page: 22 : 21-Apr-16

Tabcorp has allegedly breached the anti-money laundering rules. The Australian Transaction Reports & Analysis Centre (Austrac) alleges that the wagering group failed to notify the regulator of more than 30 TAB accounts being opened by criminals using false names to launder funds generated through fraudulent credit card transactions. The Federal Court was due to hear the case in September 2016, but the hearing has been postponed until 6 June 2017.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, TAB LIMITED, ASX LIMITED – ASX ASX

Tatts in $540m court shock

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 & 22 : 3-Mar-16

Shares in Tatts Group shed 4.35 per cent to close at $A3.74 on 2 March 2016, after the High Court ruled in the Victorian Government’s favour in a dispute over the termination of the company’s poker machine licence. The court ordered Tatts to repay a total of $A540m which it had been awarded as compensation by a previous court ruling in 2014. The latest judgment has prompted speculation that Tatts could seek to revive merger talks with rival Tabcorp, although Tatts CEO Robert Cooke recently said this is not on the agenda.

CORPORATES
TATTS GROUP LIMITED – ASX TTS, HIGH COURT OF AUSTRALIA, TABCORP HOLDINGS LIMITED – ASX TAH, UBET

Ainsworth cashes out $473m pokies stake

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Original article by Perry Williams
The Australian Financial Review – Page: 21 : 24-Feb-16

Australian-listed poker machine maker Ainsworth Game Technology has posted a 2015-16 interim net profit of $A33.1m, which is four per cent lower than previously. Meanwhile, founder Len Ainsworth has sold his 53 per cent stake in the group to Novomatic for about $A473m. Ainsworth will remain chairman, and intends to donate some of the proceeds of the sale to philanthropic causes such as medical research.

CORPORATES
AINSWORTH GAME TECHNOLOGY LIMITED – ASX AGI, NOVOMATIC, ARISTOCRAT LEISURE LIMITED – ASX ALL, ST VINCENT’S HOSPITAL SYDNEY LIMITED, WATERMARK FUNDS MANAGEMENT PTY LTD

We hate gambling ads? You bet we do

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Original article by Rick Wallace
The Australian – Page: 8 : 12-Feb-16

New figures shows that Australian corporate bookmakers spent $A81m on advertising in the year to 31 October 2015, which is 55 per cent higher than previously. Sportsbet accounted for about $A34m of this expenditure, while CrownBet spent $A16m. Federal MP Alan Tudge says many voters have expressed their dislike for gambling ads on TV, and he notes that some state governments are taking action to increase regulation of such advertising.

CORPORATES
SPORTSBET AUSTRALIA, CROWNBET PTY LTD, WILLIAM HILL AUSTRALIA PTY LTD, LADBROKES, BET365 GROUP LIMITED, TATTS GROUP LIMITED – ASX TTS, TABCORP HOLDINGS LIMITED – ASX TAH, VICTORIA. DEPT OF JUSTICE. CONSUMER AND BUSINESS AFFAIRS VICTORIA

Bookies say disgraced outfit is a lock for wooden spoon

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Original article by Perry Williams
The Australian Financial Review – Page: 4 : 13-Jan-16

Punters who have backed Essendon to win the 2016 Australian Football League premiership will be offered a refund by Sportsbet in the wake of the landmark ruling on the supplements scandal. The firm notes that Essendon had been heavily backed to win both its first game of the season and the premiership. With many Essendon players now banned for the entire season, Sportsbet is no longer accepting bets on the team that will finish last on the AFL ladder.

CORPORATES
ESSENDON FOOTBALL CLUB, AUSTRALIAN FOOTBALL LEAGUE, SPORTSBET AUSTRALIA, PADDY POWER PLC, TABCORP HOLDINGS LIMITED – ASX TAH, WILLIAM HILL AUSTRALIA PTY LTD, UBET, GOLD COAST FOOTBALL CLUB LIMITED, SYDNEY FOOTBALL CLUB, ADELAIDE FOOTBALL CLUB, RICHMOND FOOTBALL CLUB, NORTH MELBOURNE FOOTBALL CLUB LIMITED, PORT ADELAIDE FOOTBALL CLUB

Packer privatisation push to buoy Crown

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Original article by Andrew White
The Australian – Page: 16 : 12-Jan-16

Shares in Crown Resorts closed $A0.11 higher at $A11.87 on 11 January 2016. Sacha Krien and Anthony Longo of CLSA have concluded that the casino operator is currently trading at a discount to fair value, and suggest that there is a "reasonable chance" that Crown will be privatised by 53 per cent shareholder James Packer. CLSA has upgraded its share price target by seven per cent, to $A13.38.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CLSA AUSTRALIA PTY LTD, MELCO CROWN ENTERTAINMENT LIMITED, MORGAN STANLEY AUSTRALIA LIMITED

Tatts, Tabcorp jockey to win race for last state-owned TAB

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Original article by Perry Williams
The Australian Financial Review – Page: 13 & 14 : 8-Jan-16

Australian and international wagering groups are expected to be interested in acquiring Western Australia’s TAB, although the State Government has given no indication as to when the sale will proceed. Tabcorp Holdings and Tatts Group are regarded as the frontrunners to acquire the TAB, although the Kerry Stokes-backed Seven West Media may also be a bidder. Western Australia is the only state that has not yet privatised its TAB.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, SEVEN WEST MEDIA LIMITED – ASX SWM, TOTALIZATOR AGENCY BOARD (WESTERN AUSTRALIA), WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, RACING REPRESENTATIVE GROUP

Packer pushes for Crown deal

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Original article by Perry Williams
The Australian Financial Review – Page: 15 : 18-Dec-15

Crown Resorts chairman James Packer is believed to favour fully rather than partially privatising the listed casino operator. Packer’s Consolidated Press Holdings, which has a 53 per cent stake in Crown, has stressed that directors of Crown have not been presented with any proposals to privatise the group. Delisting Crown is likely to cost around $A5bn, and groups such as private equity firms or pension funds could potentially help Packer to finance any such deal.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CONSOLIDATED PRESS HOLDINGS LIMITED, MELCO CROWN ENTERTAINMENT LIMITED, DEUTSCHE BANK AG