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Recent News Articles

Robert Cooke Becomes New Star Entertainment CEO

Star Entertainment Group, one of the biggest casino operators in Australia, has announced that its process of searching for a new Chief Executive Officer has ended and that the chosen candidate for the job is Robert Cooke. The new Chief Executive Officer will also hold the position of Managing Director at the casino operator. The appointment comes after in March 2022 Matt Bekier, the former Managing Director and Chief Executive Officer of Star En ...

Blackstone Completes Acquisition Of Crown Resorts

Crown Resorts, the largest owner and operator of land-based casinos in Australia, has finally changed ownership as Blackstone Group, an international private equity firm, has announced that it completed the acquisition. The deal is worth 8.87 billion dollars and it will see ownership of Crown Melbourne, Crown Perth and Crown Sydney be taken by SS Silver, a company which is owned by funds managed by Blackstone. The completion of the acquisition pu ...

Playtech Extends Takeover Proposal Deadline

Playtech, one of the world’s largest suppliers of slot games and live casino content for online casinos, has announced that it has decided to give TTB Partners another month to come up with a concrete takeover bid. TTB Partners, an Asian-based investment group, had initially been given until 17 June to propose an offer for the takeover of Playtech. However, the discussions between the two parties had taken longer than expected, so Playtech decide ...

Crown Resorts Acquisition By Blackstone Receives Federal Court Approval

Crown Resorts, the biggest and most renowned owner and operator of land-based casinos in Australia, has cleared the final hurdle before being officially taken over by Blackstone Group, a powerful international private equity company. The Federal Court of Australia issued its approval of the proposed acquisition and this represents the final step before the deal actually becomes effective. Crown Resorts had to lodge a copy of the court order with ...

Crown Resorts Acquisition Approved In Western Australia, Victoria and New South Wales

Crown Resorts, the largest owner and operator of land-based casinos in Australia, is getting closer to being taken over by Blackstone after the deal was approved in Western Australia, Victoria and New South Wales. The acquisition previously received approval from the Australian Foreign Investment Review Board and also the Crown Resorts shareholders voted in favor of the deal. Nevertheless, Blackstone also required local approvals in Western Austr ...

New South Wales Government Proposes New Gambling Legislation

The government of New South Wales, Australia’s most populous state, has announced it prepared a new legislative framework for betting, racing and gambling in general in the state. The main new aspect of this legislation is that it would class special odds and welcome offers as banned inducements to gamble. Moreover, the new Betting and Racing legislation makes it clear that advertising for gambling products should now encourage people to gamble. ...

Crown Resorts Fined 80 Million Dollars In Victoria

Crown Resorts, the largest owner and operator of land-based casinos in Australia, has been given a fine of 80 million Australian dollars from the Victorian Gambling and Casino Control Commission. The decision to impose the fine on the casino operator was taken after an investigation conducted by the Victorian Gambling and Casino Control Commission found that Crown Melbourne allowed some of its customers to use China UnionPay cards to gamble betwe ...

Tabcorp Finalizes Implementation Of Lottery Demerger Scheme

Tabcorp, the well-known Australian lottery and betting operator, has announced that the much-anticipated demerger of its lottery business has finally been completed and that the new company’s shares have begun trading on the Australian Securities Exchange. The new company is called “The Lottery Corporation” and its shares will trade on the Australian Securities Exchange on a normal settlement basis under the code “TLC”. The Tabcorp brand will con ...

Aristocrat Reports Increased Revenue In First Half Of Fiscal Year

Aristocrat Leisure Limited, the Australian developer of slot machines for land-based casinos and digital games for online casinos, has announced that the first half of the 2021-2022 fiscal year has brought increased revenue and profit. The Australian company’s revenue went up by 23.1 percent compared to the same period of the previous year, amounting to 2.75 billion Australian dollars. The biggest contributor to that increased revenue was Pixel U ...

TTB Partners Given Deadline For Playtech Bid

Playtech, one of the world’s leading providers of software and content for online casinos, will find out in the next few weeks whether TTB Partners will come up with a firm takeover bid or not. The iGaming company has been facing an uncertain future over the past few months after Aristocrat Leisure Limited, the Australian slot machine manufacturer, has made an offer of 3 billion dollars to take over the business. That bid led to public interest i ...

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