Day: 18 September 2020

Crown Resorts Could Require Massive Compensation If NSW Inquiry Forces It to Bring Operational Changes

Fri 18 Sep 2020 9.50 Daniel Williams
Crown Resorts Could Require Massive Compensation If NSW Inquiry Forces It to Bring Operational Changes

Residents of the state of New South Wales (NSW) could be required to pay millions of dollars in compensation to the Australian gambling giant Crown Resorts in case the casino company is ordered to roll out stricter controls to guarantee that its Barangaroo casino would not become an arena for any criminal activity. The past two months have seen an inquiry held by the NSW state government into the casino operator’s due diligence and legal compliance procedures associated with its business relationship with so-called junket operators, who have been bringing…

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Betfred’s Losses Due to Reduced FOBT Maximum Stake Not as Bad as Originally Projected

Fri 18 Sep 2020 6.05 Olivia Cole
Betfred’s Losses Due to Reduced FOBT Maximum Stake Not as Bad as Originally Projected

The billionaire owners of Betfred received dividend amounting to £10.2 million after reporting exceptionally large operating profits, as the Government’s restrictions on the controversial fixed-odds betting terminals (FOBTs) had a much milder effect than the one initially predicted by the sector. In November 2019, the owners of the gambling business, Fred Done and his brother Peter, warned that British bookmakers were trying to survive after the decision of the country’s Government to sharply reduce the maximum bet allowed on the machines from £100 to £2. According to the figures for…

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