Yesterday
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.
This Month
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.
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
Tabcorp’s Gil McLachlan runs the gauntlet of angry country publicans
If the former AFL chief executive can pull it off, the wagering giant could become a major threat to the big international bookmakers that have cut its lunch.
Star deal ‘not fair’, but what else is a shareholder to do?
You could sum up independent expert Grant Samuel’s verdict as: something is better than nothing. It’s time to let the foxes into the henhouse.
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”.
Executives head for the door at unicorn crypto start-up Immutable
Two senior executives on Friday announced their departure from the heavily funded tech company, which has shed a third of its staff in the past nine months.
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.
Tech unicorn Immutable cuts staff as AI bots pick up jobs
One of Australia’s most funded technology companies has shed more than 70 staff over the past nine months and embraced artificial intelligence programs.
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.
Gil McLachlan needs a strong defensive game on live sport betting
Tabcorp now has a risk-taker in charge, which excites the market, even though caution is required.
Aristocrat Leisure shares tumble as revenue falls short
Chief executive Trevor Croker sought to ease investor concerns after a disappointing half-year result took $3 billion off its market cap.
The Rich Listers whose financial success (or pain) remains a secret
Billionaire Sam Arnaout’s private company Iris Capital has been able to shield his gambling profits from prying eyes. Corporate governance experts are asking why.
Gambling billionaire Escalante in expletive-ridden rant to investors
Perth gambling billionaire Laurence Escalante has told investors to sell their shares in his gaming business Virtual Gaming Worlds if they don’t trust him.
The stage of life Australians can’t afford to ignore
Kate Carnell says federal funds for end-of-life planning would reduce costly hospitalisations and prevent unnecessary suffering.
UK’s richest self-made woman plots $18b sale of gambling empire
Denise Coates, the owner of the Bet365 betting empire, is reportedly looking to sell the business amid a booming market for gaming in the United States.
April
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.