R92 Gambling Activities

Tatts Group urged to seek premium

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Original article by James Thomson, Jessica Gardner
The Australian Financial Review – Page: 13 & 18 : 16-Nov-15

Tabcorp Holdings and Tatts Group have both declined to comment on reports that they have held merger discussions. Shares in Tatts Group closed at $A3.92 on 13 November 2015, although Sandon Capital estimates that the stock could be worth around $A5.50 if Tatts were broken up. Tabcorp is seen as a potential buyer of Tatts’ wagering division, but some fund managers favour a merger between the two groups.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, SANDON CAPITAL INVESTMENTS LIMITED – ASX SNC, PERPETUAL LIMITED – ASX PPT, UNITAB LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, UBS HOLDINGS PTY LTD, ONTARIO TEACHERS’ PENSION PLAN, NSW LOTTERIES, WILLIAM HILL AUSTRALIA PTY LTD, LADBROKES GROUP PLC

Shining Star’s locals make up for slump in high-roller gamblers

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Original article by Jessica Gardner
The Australian Financial Review – Page: 19 : 5-Nov-15

Echo Entertainment Group’s shareholders approved a resolution to change its name to The Star Entertainment Group at the 2015 AGM. The listed casino operator also revealed that its domestic revenue was 8.7 per cent higher than previously in the first four months of 2015-16, although revenue from high-rollers fell by 33.8 per cent. Meanwhile, the group intends to rebadge its Queensland casinos as The Star, a brand that it currently uses in Sydney.

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, THE STAR, CROWN RESORTS LIMITED – ASX CWN, MELCO CROWN ENTERTAINMENT LIMITED, STANDARD AND POOR’S ASX 200 INDEX

Packer punts on $10b casino play

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Original article by Perry Williams
The Australian Financial Review – Page: 19 : 20-Oct-15

Australian-listed Crown Resorts plans to build a 90-storey hotel and apartment tower in Melbourne in partnership with the Schiavello Group. The new hotel is slated for completion in 2019 and is expected to feature a new brand that could be used for other hotels that are in Crown’s extensive development pipeline. Crown hopes the new hotel will attract more high-rollers and tourists, and will be pitched at the upper end of the market.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, SCHIAVELLO GROUP PTY LTD, ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, MELCO CROWN ENTERTAINMENT LIMITED, WILKINSON EYRE ARCHITECTS

Israel-based Packer outgrows Australia

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Original article by Perry Williams, Michael Smith
The Australian Financial Review – Page: 1 : 14-Aug-15

James Packer has handed over the chairmanship of Crown Resorts to friend and former investment banker Rob Rankin as the billionaire pursues global casino and technology opportunities. Packer will focus on the company’s Las Vegas property and expansion into online gambling under his new title of executive director. Having sold his Vaucluse mansion, Packer is expected to spend more time in the US and Israel.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CONSOLIDATED PRESS HOLDINGS LIMITED, UBS HOLDINGS PTY LTD, ARNHEM INVESTMENT MANAGEMENT PTY LTD

Israel-based Packer outgrows Australia

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Original article by Perry Williams, Michael Smith
The Australian Financial Review – Page: 1 : 14-Aug-15

James Packer has handed over the chairmanship of Crown Resorts to friend and former investment banker Rob Rankin as the billionaire pursues global casino and technology opportunities. Packer will focus on the company’s Las Vegas property and expansion into online gambling under his new title of executive director. Having sold his Vaucluse mansion, Packer is expected to spend more time in the US and Israel.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CONSOLIDATED PRESS HOLDINGS LIMITED, UBS HOLDINGS PTY LTD, ARNHEM INVESTMENT MANAGEMENT PTY LTD

Bet365 bets on future after losses hit $117m

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Original article by John Stensholt
The Australian Financial Review – Page: 19 : 4-Aug-15

Bet365 has reported a loss of $A31 million for its Australian operations in the first quarter of 2015. The company lost $A40.8 million in the previous corresponding period. The accumulated losses of the UK-based wagering group’s Australian business are now $A117 million for its three full years of operation in Australia. The company is confident that its Australian business will become profitable in the long-term.

CORPORATES
BET365 GROUP LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, SPORTSBET AUSTRALIA, WILLIAM HILL AUSTRALIA PTY LTD, FORBES INCORPORATED, CROWNBET PTY LTD, LADBROKES GROUP PLC

Echo to zero in on wealthy VIP gamblers

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Original article by Perry Williams
The Australian Financial Review – Page: 15 & 20 : 22-Jul-15

Australian-listed Echo Entertainment Group has signalled that its new casino in Brisbane will aim to derive a significant proportion of its revenue from Asian high-rollers. CEO Matt Bekier notes that high-rollers account for about 30 per cent of revenue at The Star casino in Sydney, and the new gaming venue will seek to emulate this. The $A2bn casino at Queen’s Wharf is slated to open in 2022, and will compete with The Star and Crown Resorts’ gaming venues for high-roller patronage.

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, THE STAR, CROWN RESORTS LIMITED – ASX CWN, CHOW TAI FOOK ENTERPRISES LIMITED, FAR EAST CONSORTIUM INTERNATIONAL LIMITED, SHANGHAI GREENLAND GROUP COMPANY LIMITED, TREASURY CASINO AND HOTEL, QUEENSLAND. DEPT OF STATE DEVELOPMENT, TRADE AND INNOVATION, DEUTSCHE BANK AG

Crown board signs off on Queen’s Wharf bid

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Original article by Perry Williams
The Australian Financial Review – Page: 19 : 10-Jul-15

CSLA and Deutsche Bank expect Echo Entertainment Group to be the successful bidder for the right to build a new casino in Brisbane. Crown Resorts has finalised its submission to the Queensland Government, which has reiterated that a decision on the winning bid will be made after the state Budget is handed down on 14 July 2015. Opposition Leader Lawrence Springborg has urged the Government to announce the winning bidder immediately.

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, CROWN RESORTS LIMITED – ASX CWN, CLSA AUSTRALIA PTY LTD, DEUTSCHE BANK AG, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND, GREENLAND HOLDING GROUP COMPANY LIMITED, FAR EAST CONSORTIUM INTERNATIONAL LIMITED, CHOW TAI FOOK ENTERPRISES LIMITED, THE STAR, CREDIT SUISSE (AUSTRALIA) LIMITED

Crown faces earnings fall after Macau weakness

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Original article by Perry Williams
The Australian Financial Review – Page: 21 : 8-Jul-15

Australian-listed Crown Resorts’ casino joint venture in Macau recorded a 36.2 per cent decline in gross gaming revenue in June 2015, with revenue falling for the last 13 months. However, the group’s casino in Melbourne is performing well. Deutsche Bank has reduced its 2014-15 earnings forecast for Crown Resorts from $A512.1m to $A481.2m.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, MELCO CROWN ENTERTAINMENT LIMITED, CROWN MELBOURNE LIMITED, CROWNBET, BETEASY PTY LTD, ASPINALL’S CLUB LIMITED, BETFAIR AUSTRALASIA PTY LTD, BETFAIR AUSTRALIA PTY LTD, DEUTSCHE BANK AG, ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP

Echo chief on edge over delayed Genting decision

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Original article by Perry Williams
The Australian Financial Review – Page: 17 : 1-Jun-15

The New South Wales Independent Liquor & Gaming Authority has yet to make a decision on an application by Malaysia-based Genting to lift its stake in Echo Entertainment Group. Genting has a 6.6 per cent stake in the casino operator, but it sought approval in 2012 to increase its stake to a maximum of 25 per cent. At present, shareholdings are limited to 10 per cent of Echo’s share register.

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, GENTING BERHAD, NEW SOUTH WALES. INDEPENDENT LIQUOR AND GAMING AUTHORITY, THE STAR, CROWN RESORTS LIMITED – ASX CWN, RESORTS WORLD BERHAD