This Month
Ainsworth board says no need to disclose criminal probe into CEO
The pokies giant said on Monday it had known about the overseas criminal investigation since 2019, but the board determined it did not need to inform the ASX.
Kyrgios-backed basketball team joins NBL legal fight
The South East Melbourne Phoenix has joined a case against billionaire NBL owner Larry Kestelman over transparency concerns.
Ripped sheets, urine stains, no towels: Crown guests slam dirty rooms
Travel reviews on booking websites have complained about the firm’s cleaning standards for Sydney rooms that cost nearly $700 a night.
Star, Crown push NSW government to delay limits on cash use in casinos
While the state has already rejected a request from the Blackstone-owned Crown for poker machines in Sydney, the two companies are hoping for other reprieves.
Pokies giant leaves investors in dark about CEO’s criminal probe
For years, the chief executive of Ainsworth Game Technology has been under criminal investigation in Austria. The ASX-listed company hasn’t told shareholders.
Billionaires Escalante and Arnaout taking liberties with ASIC
The Perth entrepreneur’s attempt to wrestle back total control of VGW should have been a bit more obvious were its disclosures made in time.
Star Entertainment says $100m is all it has for AUSTRAC penalty
The financial crime watchdog says the court should disregard casino operator’s threat that it would collapse under the weight of a $400 million fine.
V’landys backs Tabcorp’s Gil McLachlan in pub wagering stand-off
The wagering giant plan to scrap commissions for pubs and clubs has irked the powerful hotels’ lobby. The racing industry sees things differently.
One of the richest casino billionaires is camping out in Sydney
Martin Moshal is a hard man to track down. But documents show the Sydneysider is connected to an enormous investment portfolio around the world.
High-risk junkets accounted for 14pc of Star’s revenues for five years
Documents filed with the Federal Court show the casino giant admitting high-roller trips which raised money-laundering issues were a huge part of its business.
Entain boss Dean Shannon to depart ahead of AUSTRAC remediation
The chief executive who led the company since 2019 will step down upon the completion of a new anti-money-laundering program.
Star pleads for mercy in AUSTRAC money laundering case
The casino group is arguing it has limited capacity to pay a penalty for alleged money laundering offences lobbed against it by the financial crime watchdog.
Japan’s Mixi hikes PointsBet takeover bid, valuing bookmaker at $402m
The entertainment giant’s hopes of acquiring the ASX-listed group had been complicated by a rival proposal from Matthew Tripp’s Betr, which holds 20 per cent.
Escalante to buy out investors in his $3.2b online gambling giant
Billionaire Laurence Escalante already controls 70 per cent of Virtual Gaming Worlds, and last month told unhappy shareholders they should just sell out of the company.
May
Former Star directors to wait until next year as ASIC hearings end
The corporate regulator filed against the casino group’s former board more than two years ago. The Federal Court has flagged a decision won’t come before December.
Court hears of ex-Star chief’s ‘glee’ at rival’s crime gang crisis
The casino’s former CEO allegedly described Crown Resorts’ money laundering issues as “gold” three years before he resigned over a similar scandal.
Judge puts directors on notice: If you take the fees, do the work
Justice Michael Lee, presiding over ASIC’s case against Star’s former board, said he expects directors to review complex material and ask management to better explain risks.
Tabcorp unleashes promotions, but turns off commissions for 1300 pubs
The wagering giant’s chief Gillon McLachlan told publicans the company had “some serious structural challenges … but it’s not just us that needs a change”.
Blackstone’s Crown nears final regulatory hurdle in WA
The West Australian government said an independent monitor put in place after damning money laundering findings had concluded its work at the casino.
Gil McLachlan gambles on pub boss hang-xiety
The new Tabcorp CEO was wined and dined by pub bosses ahead of his restructure proposal of the industry.
Tabcorp goes to war with pubs, wants to stop paying them fees
The betting giant has proposed the most significant change to its arrangement with hotels in decades, and wants to stop paying fees in exchange for upgrades.
Pollies should kick their poker machine addiction
State and territory goverments are blinded by the lustre of gambling revenue to the social ills pokies cause.
Former NT chief’s pokies regret: ‘I wish we never had them’
Alice Springs has one of the highest concentrations of pokies in the world. Shane Stone, who ran the NT in the ’90s, wishes he did more to rein them in.
Light & Wonder keen on more M&A deals, primary listing in Australia
The gaming group’s CEO, Matt Wilson, discusses its strategy, what businesses it might acquire, and how they are managing the Trump-led trade volatility.
Blackstone had big plans for Crown Towers. They haven’t materialised
Blackstone spent $8.9bn on Crown Resorts in 2022 and promised investment. Crown Towers is now in desperate need of a glow-up – and it’s starting to become a problem.