Yesterday
Allan Gray, Spheria slam Ainsworth board over takeover bid
The minority shareholders have accused Ainsworth’s board of failing to act in the interest of shareholders by accepting a takeover bid from Novomatic.
April
Star’s earnings outlook worsens as it prepares for new owner Bally’s
The casino group has plunged to a $21 million EBITDA loss for the March quarter, and says uncertainty remains about its ability to operate as a going concern.
Jayne ‘Hard Liquor’ has a big job ahead at drinks empire
Jayne Hrdlicka is jumping from one fix-up job at Virgin to the next at Endeavour, and she’s going to have to put some noses out of joint – again.
Matt Tripp’s Betr buys 20pc of PointsBet in takeover war
The purchase is the latest move in the fight over the future of online bookmaker PointsBet.
Ainsworth shareholder slams takeover bid as shares climb 31 per cent
The poker machine supplier told investors on Monday that its major shareholder, Novomatic, would acquire the 47.1 per cent of shares it did not already own.
Matt Tripp’s Betr prepares equity raising to bankroll PointsBet bid
Sources said Betr’s bid was largely unchanged, but the raising would mean the target board can no longer claim “funding uncertainty”.
Racing royalty launch broadside against V’landys leadership
Champion trainers Gai Waterhouse and Chris Waller are among the authors of a scathing letter about racing governance.
Why cashing out won’t be easy for Australia’s gambling billionaires
Adrian Portelli, Laurence Escalante and Ed Craven could all face big problems if they try to sell their companies or go public.
Has Bally’s met its match in an impossible Star turnaround task?
The American giant has turned around plenty of casinos in the past. Now it is turning its attention to tackling its most daunting challenge yet.
How Hollywood learnt to love video games
While superhero franchises flag, ‘A Minecraft Movie’ shows the industry has finally cracked the formula for translating popular games into films.
Star attempts to grow revenues after $300m loss in horror six months
The casino operator said that there were material uncertainties about its ability to operate, with its Brisbane complex written down and a fall in revenue.
Bally’s chairman Soo Kim flies in to finalise Star Entertainment deal
The businessman’s visit, his second in two months, comes as the group’s Hong Kong backers are also in the country to take ownership of its Brisbane complex.
Former Tabcorp chief alleges boardroom full of sexist, sexual remarks
Adam Rytenskild claims the bookmaking giant hypocritically sacked him for a crude remark about a regulator, a comment he denies he said.
Star CEO’s $10m loan fee farce
The distressed Star Entertainment will pay up to $10 million to a US hedge fund for a debt facility that was never used, or signed-off on.
Star as we know it will be over, top execs cleaned out: Bally’s
Star Entertainment’s new controlling shareholder says there is still money to be made in gambling but the company had been badly managed for years.
Laurence Escalante gets real deep on Instagram bender
From Below Deck to righteously correcting injustice to philosophy, the Rich Lister’s recent social media rant covered it all.
Star Entertainment to sign $300m deal with US casino giant Bally’s
The terms are expected to be finalised following a weekend of negotiations.
Desperate Star Entertainment asks Bally’s to fatten up a bail-out
Term sheets are flying as Star and its bankers try to secure a final lifeline for the casino operator.
PointsBet at odds with rival bookie BlueBet over takeover funding
The company is trying to sell its business to Japanese entertainment giant Mixi, but that has been complicated by a competing bid from BlueBet.
Star turns to US casino giant Bally’s as $750 million lifeline fails
Star was trying to reach a deal with its potential funder until late on Tuesday, but had failed to agree to terms including how to meet its near-term costs.
The stand-off that blew up Star’s super-sized debt deal
Nearly a month of exclusive negotiations to save the casino giant have failed – and now it is over to Plan B. The clock is ticking louder than ever.
Bookmaker behind Ladbrokes turned blind eye to drug money laundering
Over 640 pages, Austrac accuses the UK bookmaking giant of failing to catch “large amounts of money being regularly moved”.
March
Inside the awkward release of the Star casino probity report
The Queensland LNP government released a sensitive report into Star’s Brisbane casino business partner. The findings could have a significant impact on a sale.
Star’s Hong Kong saviour hid relationship with criminal junket king
A long-secret report finally released by the Queensland government recommended the state consider “divestment or appropriate quarantine” of assets.
Star’s Steve McCann goes all in on Salter Brothers
There is no more time for Plan B or Plan C. Salter Brothers has to work.