INVESTMENTS

Aristocrat Leisure lands games giant Big Fish for $1.3 billion

roymorgansocial Leave a comment

Original article by John Stensholt
The Australian Financial Review – Page: 19 : 1-Dec-17

Aristocrat Leisure’s push to reduce its reliance on poker machine sales continued on 30 November with its announcement that it had acquired US social gaming firm Big Fish Gaming for $US900 million ($A1.3 billion). The purchase will increase the percentage of its revenue that comes from digital sources to around 38 per cent, and follows its August purchase of Israeli-based game developer Plarium. Aristocrat also handed down its 2017 fiscal year results on 30 November, reporting a net profit of $A495 million, up 41 per cent, earned on revenue of about $A2.4 billion.

CORPORATES
ARISTOCRAT LEISURE LIMITED – ASX ALL, BIG FISH GAMING INCORPORATED, PLARIUM LLC, CHURCHILL DOWNS, MOODY’S INVESTORS SERVICE INCORPORATED, VIDEO GAMING TECHNOLOGIES INCORPORATED

Amazon tells of $700m Australia push

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 15 & 30 : 14-Nov-17

US e-commerce giant will establish an Australian presence "very soon", according to country manager Rocco Braeuniger. He says both the Amazon Marketplace and its own retail platform will be launched in Australia, with the range of product categories it offers to be progressively expanded. Braeuniger has stressed that customer service will be a focus for Amazon, which intends to invest $A700m in its Australian business over five years.

CORPORATES
AMAZON.COM INCORPORATED, HIP CUB, KOALA SAFE PTY LTD, GOBE PTY LTD

Labor stonewalls on Adani incentives

roymorgansocial Leave a comment

Original article by Michael McKenna, Sarah Elks
The Australian – Page: 8 : 10-Nov-17

The Queensland Government continues to attract scrutiny over its dealings with India-based Adani regarding its $A16.5bn Carmichael coal and rail project. The Government struck a deal with Adani in May to defer some royalties payments, but it has refused to disclose any details of the deal. However, the Australian Labor Party had stated in 2015 that it would not make any "secret deals" if it won the state election.

CORPORATES
ADANI MINING PTY LTD, AUSTRALIAN LABOR PARTY, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, QUEENSLAND. TREASURY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY

Amazon threat and opportunity

roymorgansocial Leave a comment

Original article by Simon Evans, Michael Bailey
The Australian Financial Review – Page: 1 & 12 : 2-Nov-17

US-based e-commerce giant Amazon is widely tipped to enter the Australian market before the end of 2017. Delegates at a retail summit on 1 November were told that the arrival of a new competitor will be good for Australian retailers, with Launa Inman arguing that it will force them to improve their online offerings. Small Business & Family Enterprise Ombudsman Kate Carnell says Amazon will face close scrutiny to ensure that its contracts are fair, while Australian Retailers Association executive director Russell Zimmerman stressed the need to ensure that Amazon complies with Australia’s penalty rates regime.

CORPORATES
AMAZON.COM INCORPORATED, AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN, AUSTRALIAN RETAILERS ASSOCIATION, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, DELOITTE ACCESS ECONOMICS PTY LTD, DELOITTE TOUCHE TOHMATSU LIMITED, BILLABONG INTERNATIONAL LIMITED – ASX BBG, TARGET AUSTRALIA PTY LTD, THEICONIC.COM.AU

Investor sells out as fear of bank tax grows

roymorgansocial Leave a comment

Original article by Andrew White, Michael Owen
The Australian – Page: 1 & 4 : 31-Oct-17

Jupiter Fund Management’s Asian Fund has sold down some of its Australian financial services investments, in part due to concern about South Australia’s proposed bank tax. If the tax is imposed, it has been estimated that it will cost the big four banks and Macquarie $A417 million over four years. The tax is due to be considered by South Australia’s upper house during the week ending 3 November, with the government needing the support of cross-bench MPs to get the tax approved.

CORPORATES
JUPITER MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE, AUSTRALIAN CONSERVATIVES, AUSTRALIAN GREENS, AUSTRALIA. PRODUCTIVITY COMMISSION, DIGNITY PARTY, AUSTRALIAN BANKERS’ ASSOCIATION, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, BUSINESS SA, AUSTRALIAN LABOR PARTY

Packer concedes global strategy failed

roymorgansocial Leave a comment

Original article by Aaron Patrick
The Australian Financial Review – Page: 5 : 27-Oct-17

Crown Resort’s controlling shareholder, James Packer, has conceded at the its AGM that the casino group’s offshore expansion was a failure. However, he said he is optimistic about the prospects of its Sydney casino, hotel and apartment complex, which Lendlease is building on Sydney Harbour. Packer also observed that Crown had made around $A2 billion from its international foray, which was possibly the best result of all Australian companies that have abandoned offshore expansion plans.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, LEND LEASE GROUP LIMITED – ASX LLC, MELCO CROWN ENTERTAINMENT LIMITED

QBE makes first insurtech play

roymorgansocial Leave a comment

Original article by Alice Uribe
The Australian Financial Review – Page: 20 : 27-Oct-17

QBE Insurance Group has invested in US artificial intelligence firm RiskGenius, with QBE executive Bob James saying it will help the insurer to develop new products more rapidly. The investment in RiskGenius is the first to be made via QBE’s $US50 million ($A64.85 million) "insurtech" fund. QBE CEO John Neal said at the time of the fund’s launch in March that its investments would focus on data analytics.

CORPORATES
QBE INSURANCE GROUP LIMITED – ASX QBE, RISKGENIUS, CB INSIGHTS

NZ overseas buyers ban ‘to push funds our way’

roymorgansocial Leave a comment

Original article by Turi Condon, Rosanne Barrett
The Australian – Page: 2 : 26-Oct-17

Ray White Group chairman Brian White says more overseas buyers could seek to purchase residential properties in Australia due to the incoming New Zealand Government’s decision to restrict foreign ownership to new housing developments. However, White adds that the Chinese Government’s crackdown on outbound investment is likely to have a greater impact on Chinese demand for Australian housing.

CORPORATES
RAY WHITE GROUP, LABOUR PARTY (NEW ZEALAND), AMP CAPITAL INVESTORS LIMITED, REAL ESTATE INSTITUTE OF NEW ZEALAND, CORELOGIC INCORPORATED

FIRB tick for Ten takeover

roymorgansocial Leave a comment

Original article by Dana McCauley
The Australian – Page: 19 : 24-Oct-17

CBS Corporation’s acquisition of the Ten Network has cleared a key hurdle, with the Foreign Investment Review Board advising that it will not oppose the deal. The Supreme Court of New South Wales is scheduled to commence a hearing on the deal in late October, and small shareholders David Gubbay and Yunfeng Du are expected to challenge the transfer of Ten’s shares to CBS.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, CBS CORPORATION, SUPREME COURT OF NEW SOUTH WALES, KORDA MENTHA AND COLLEAGUES PTY LTD, KPMG AUSTRALIA PTY LTD, 21ST CENTURY FOX INCORPORATED

Debenhams sets up shop in Australia

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 14 : 18-Oct-17

Pepkor will open the first Debenhams department store in Melbourne on 24 October, and Pepkor executive Graham Dean says the store format it has chosen has not been used by Debenhams before, nor has it been seen in Australia. Dean, who used to work for Myer, says the traditional "big-store" format that department stores are known for are no longer viable. Pepkor intends to open 10 Debenhams stores in Australia under a franchise agreement with the UK retailer.

CORPORATES
PEPKOR, DEBENHAMS RETAIL PLC, MYER HOLDINGS LIMITED – ASX MYR, HARRIS SCARFE HOLDINGS LIMITED, DAVID JONES LIMITED, JP MORGAN AUSTRALIA LIMITED