Company Reports

US sports betting and daily fantasy sports operator DraftKings has abandoned its multi-billion takeover offer for its UK rival Entain only a week after the British gambling giant extended the deadline for DraftKings to revise its acquisition bid. In a statement to the stock market, Entain revealed that DraftKings had walked away from its £16.4-billion bid as it had decided not to make a firm acquisition offer. The US sports betting company abandoned its takeover efforts more than a month after it first declared its interest to acquire its UK…

The gambling regulatory body of the Northern Territory has imposed a fine of over AU$50,000 to the Australian corporate bookmaker BetEasy, which operates online racing and sports betting platforms, after the operator had allowed a self-excluded gambling addict to open a new account and lose about AU$720,000. The Northern Territory Racing Commission has held an investigation into BetEasy. As part of the probe, it evaluated a private contractual agreement between the gambling operator and a person who remained unnamed and was only referred to as “the gambler”. As a result…

Crown Resorts has been allowed to keep the operating licence for its Melbourne casino, although the Royal Commission of the state of Victoria found its conduct was “disgraceful”. Earlier today, Commissioner Ray Finkelstein issued his final report on the matter, making a recommendation for Crown Melbourne to be given a two-year grace period to improve its various wrongdoings under the monitoring of a special manager. The Victorian Royal Commission into Crown Resorts’ Melbourne operating licence was formed following allegations of a number of gambling law breaches on the casino’s part.…

It does not seem that the Irish gambling and sports betting giant Flutter Entertainment is willing to slot its global expansion any time soon, as the operator continues to grow its international footprint. The business-to-business online gambling software developer Singular, which has become the latest asset in Flutter Entertainment’s portfolio, has confirmed that it is ready to hand over 100% of its shares to the Irish gambling and sports betting company. The move will allow Flutter Entertainment to expand even more in the Commonwealth of Independent States, or the so-called…

At the time when warnings regarding a gambler who had spent AU$2.5 million on electronic gaming machines available in a Crown Resorts’ casino were made, the current boss of Crown Perth told the Western Australia Royal Commission that he was not much concerned with the situation. Lonnie Bossi, the CEO of Crown Perth, explained that a casino employee told him that the gambler in question originated from an affluent family and owned some property, showing him a Facebook search to confirm their words. However, the WA Royal Commission that is…

A cross-party group of UK Members of Parliament has urged ministers to take into consideration possible action against Camelot, the operator of the National Lottery, saying that a move towards games offered through mobile applications rather than measures against traditional lottery draws could risk making the situations with gambling addiction worse. The group also noted that such measures could also reduce the amounts received by local charities and good causes. The calls from the Labour and Conservative Members of Parliament come after the National Lottery operator issued its most recent…

Crown Resorts’ shareholders voted against the executive pay plans of the Australian casino giant for the second year in a row at its annual meeting that took place earlier today. They, however, turned down a follow-up option to expel the entire board of the company. Almost 31% of proxy votes were cast against the remuneration report of the gambling operator before its annual general meeting on October 21st. As mentioned above, this has been the second straight year when Crown Resorts’ shareholders have rebelled against the casino giant, exceeding the25%…

The review of The Star Casino in Sydney will see some public hearings to examine the operator’s measures preventing the infiltration of organised crime and money laundering. Some senior figures from Star Entertainment, such as CEO Matt Bekier and some board members, are also expected to take part in the hearings. As confirmed in media reports, senior barrister Adam Bell, SC, has been appointed by the Victorian Independent Liquor and Gaming Authority (ILGA) to examine the operations of the Australian gambling giant at public hearings that are scheduled to take…

The British gambling and sports betting giant Entain plc, formerly known as GVC Holdings, has extended the deadline for a formal acquisition offer to DraftKings, as the gambling group’s investors call for the US suitor to put definitive terms on its £16.4- billion ($22.4-billion) takeover bid. In an official statement dated October 19th, the company revealed that negotiations with DraftKings are still ongoing, although it required a number of issues that were described by Entain as “fundamental” to be resolved by no later than 5:00 PM on the same day.…

One of the largest casino companies in Australia – Star Entertainment – is being intimidated by a class-action lawsuit after it was revealed that its shareholder value collapsed by almost AU$1 billion following the operator’s alleged failures to comply with anti-money laundering and counter terrorism-financing rules. The local plaintiff law firm Maurice Blackburn Lawyers has started preparing a class action on behalf of the gambling company’s investors after a number of Australian media hubs revealed that Star Entertainment has been allowing suspected organised crime and money laundering in its casinos…