GAMBLING INDUSTRY – AUSTRALIA

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

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

Betting review’s focus live wagers, tax

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

Former New South Wales premier Barry O’Farrell will undertake a review of the Interactive Gambling Act on behalf of the Australian Government. The review will examine factors such as technology issues associated with online gambling, including the growing popularity of in-play betting, as well as the extent of illegal overseas gambling. The review’s final recommendations are slated to be delivered to the Government in mid-December 2015.

CORPORATES
AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. DEPT OF COMMUNICATIONS, AUSTRALIAN INSTITUTE OF FAMILY STUDIES, WILLIAM HILL LIMITED, BET365 GROUP LIMITED, LADBROKES GROUP PLC, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, AUSTRALIAN FEDERAL POLICE

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

Echo wins bid to build Brisbane casino

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Original article by Mark Ludlow, Perry Williams
The Australian Financial Review – Page: 7 : 21-Jul-15

The Queensland Government has chosen a consortium headed by Echo Entertainment Group to build Brisbane’s second casino. The Destination Brisbane consortium, which also includes Chow Tai Fook and Far East Consortium, competed with Crown Resorts for the right to build the new gaming venue at Queen’s Wharf. It will be located next to Echo’s Treasury Casino. Echo plans to relocate its head office from Sydney to Brisbane.

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, DESTINATION BRISBANE PTY LTD, CHOW TAI FOOK ENTERPRISES LIMITED, FAR EAST CONSORTIUM INTERNATIONAL LIMITED, CROWN RESORTS LIMITED – ASX CWN, GREENLAND HOLDING GROUP COMPANY LIMITED, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, QUEENSLAND. DEPT OF STATE DEVELOPMENT, TRADE AND INNOVATION, TREASURY CASINO AND HOTEL, THE STAR, DEUTSCHE BANK AG, CREDIT SUISSE (AUSTRALIA) LIMITED

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