R92 Gambling Activities

Echo to bulk up Star ahead of Crown threat

roymorgansocial Leave a comment

Original article by Perry Williams
The Australian Financial Review – Page: 15 : 25-May-15

Australian-listed Echo Entertainment Group has not yet decided whether to expand its existing hotels at The Star in Sydney or build another hotel at the casino complex. The Star has a $A500m capital works budget for the next five years, as it prepares for the entry of Crown Resorts into Sydney’s casino market in 2019. The Star also intends to expand its gaming floor with the addition of extra gaming tables.

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, THE STAR, CROWN RESORTS LIMITED – ASX CWN, CROWN MELBOURNE LIMITED

Weekly gambling spend negligible for Generations Y and Z … unlike the Boomer generations

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Mar-15

A Roy Morgan Single Source survey has found that the average Australian aged 18+ spent $A135 on leisure and entertainment per week in the year to December 2014. This include money spent on going out, entertainment at home and gambling. While gambling accounts for $A13 of the average Australian’s weekly leisure and entertainment spend, Generation Z spends an average of just $A4 per week on gambling. This compares with an average of $A21 per week for Baby Boomers and $A20 for Pre-Boomers

CORPORATES
ROY MORGAN RESEARCH LIMITED

Tatts launches new lottery

roymorgansocial Leave a comment

Original article by Jessica Gardner
The Australian Financial Review – Page: 18 : 20-Feb-15

Tatts Group has posted a 2014-15 interim profit of $A139.2m, which is 14.6 per cent higher than previously. The lotteries division’s EBITDA of $A161.1m was 2.4 per cent higher, and revenue grew by 1.3 per cent to $A1.01bn. The wagering division’s EBITDA and revenue increased by 6.4 per cent and 0.4 per cent respectively. Meanwhile, Tatts will launch a new lottery product called "Set for Life"

CORPORATES
TATTS GROUP LIMITED – ASX TTS, CITIGROUP PTY LTD

High-rollers lift Crown’s earnings

roymorgansocial Leave a comment

Original article by Jessica Gardner, Vanessa Desloires
The Australian Financial Review – Page: 13 & 20 : 20-Feb-15

Australian-listed Crown Resorts has posted a 2014-15 interim statutory net profit of $A201.8m, which is 47.2 per cent lower than previously. The result was marred by write-downs totalling $A61.3m and a downturn in gambling activity in Macau. Normalised net profit of $A322m was 2.3 per cent higher and normalised revenue of $A1.7bn was up 17.2 per cent. Shareholders will receive a half-year dividend of $A0.18 per share

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CROWN MELBOURNE LIMITED, MELCO CROWN ENTERTAINMENT LIMITED, BLOOMBERG LP, ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, SKYCITY ENTERTAINMENT GROUP LIMITED – ASX SKC, ARNHEM INVESTMENT MANAGEMENT PTY LTD, CITIGROUP PTY LTD, CONSOLIDATED PRESS HOLDINGS LIMITED

Echo hopes for lucky Lunar New Year party

roymorgansocial Leave a comment

Original article by Jessica Gardner
The Australian Financial Review – Page: 13 & 18 : 16-Feb-15

Echo Entertainment Group CEO Matt Bekier notes that the Lunar New Year period is one of the busiest times for its Sydney casino. He says The Star’s patronage by Asian high-rollers rises significantly during Chinese New Year celebrations. The Star is also hoping to attract Asian patrons to the Lunar Markets, which are operated by Fairfax Media. Bekier notes that the first night of the markets attracted 17,500 visitors

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, THE STAR, FAIRFAX MEDIA LIMITED – ASX FXJ, SKYCITY ENTERTAINMENT GROUP LIMITED – ASX SKC, MONASH UNIVERSITY

Packer doesn’t want to share his Crown

roymorgansocial Leave a comment

Original article by Jessica Gardner
The Australian Financial Review – Page: 13 & 18 : 9-Feb-15

The Federal Court will be asked to rule on the right to use the Crown brand and logo in a trademark dispute between James Packer and property developer Iwan Sunito. Packer’s Crown Resorts is seeking to have Crown Group Holdings barred from using trademarks such as Crown Apartments, Crown Towers and Crown Resort in marketing its apartment projects. The listed group is undertaking its own apartment project as part of the Crown Sydney hotel and casino development

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CROWN GROUP HOLDINGS PTY LTD, FEDERAL COURT OF AUSTRALIA, CROWN MELBOURNE LIMITED, ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, THE STAR, CITY OF SYDNEY, SYDNEY CHRISTIAN WORSHIP CENTRE

Special payout boosts Tabcorp

roymorgansocial Leave a comment

Original article by Andrew White
The Australian – Page: 21 : 6-Feb-15

Gaming group Tabcorp has announced a 2014-15 interim net profit increase of 64.1% to $A122.4m. Excluding abnormals the rise was 21.8% to $A90.9m, and revenue also grew 6.7% to reach $A1.12bn. The six-month distribution is $A0.10, up from $A0.08. CEO David Attenborough said the Australian-listed company would stage a pro-rata accelerated renounceable entitlement offer at an issue price of $A3.70, compared with the most recent on-market value of $A4.71. The proceeds will be partly used to fund a special distribution worth $A0.30 a share

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, ARGO INVESTMENTS LIMITED – ASX ARG, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, UBS HOLDINGS PTY LTD

Echo’s Star performer set for makeover

roymorgansocial Leave a comment

Original article by Jessica Gardner, Vanessa Desloires
The Australian Financial Review – Page: 17 & 22 : 5-Feb-15

Australian-listed Echo Entertainment Group has posted a 2014-15 interim net profit of $A97.1m, which is 111 per cent higher than previously. Normalised revenue of $A1.2bn was up by 28.3 per cent, and Sydney’s The Star casino accounted for $A183m of normalised EBITDA of $A261m for the half-year. Echo Entertainment has spent $A870m on upgrading The Star in recent years, and it has flagged further expenditure on redeveloping the property

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, THE STAR, TREASURY CASINO AND HOTEL, CROWN RESORTS LIMITED – ASX CWN, JUPITERS LIMITED, CITIGROUP PTY LTD

William Hill bets on 80-year-old brand

roymorgansocial Leave a comment

Original article by Jessica Gardner
The Australian Financial Review – Page: 17 : 21-Jan-15

The William Hill brand will replace those of Sportingbet, Tom Waterhouse and Centrebet in Australia in the months ahead. The 80-year-old UK group, which is named for its founder, will begin with the Sportingbet name in February 2015. William Hill will foster awareness of its own brand by increasing its Australian marketing budget by $A10 million. Plans for the name change had been abandoned by Sportingbet founder Michael Sullivan, then-CEO of William Hill Australia, in October 2013

CORPORATES
WILLIAM HILL AUSTRALIA PTY LTD, WILLIAM HILL LIMITED, SPORTINGBET AUSTRALIA PTY LTD, CENTREBET INTERNATIONAL LIMITED, SBET AUSTRALIA PTY LTD, SPORTINGBET PLC, TOM WATERHOUSE (VIC) PTY LTD, TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, BETEASY PTY LTD, LADBROKES GROUP PLC, PADDY POWER PLC

Judges slam Victorian govt on gambling reform

roymorgansocial Leave a comment

Original article by Jessica Gardner
The Australian Financial Review – Page: 15 : 5-Dec-14

Tabcorp and Tatts were in 1994 granted licences for 18 years by the then Victorian government to operate poker machines in the state. However, the rights were then transferred to pubs and clubs in 2008. Tatts launched a compensation suit for $A540m over the loss of its licence and Tabcorp sought $A687m. The Court of Appeal has now ruled in favour of the former but against the latter. Tatts won as its claim was based on a contractual rather than statutory argument

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, COURT OF APPEAL (VICTORIA), AUSTRALIAN LABOR PARTY, VICTORIA. DEPT OF PREMIER AND CABINET, CROWN RESORTS LIMITED – ASX CWN, LIBERAL PARTY OF AUSTRALIA, HIGH COURT OF AUSTRALIA, SUPREME COURT OF VICTORIA, STANDARD AND POOR’S ASX 200 INDEX