Company Reports

The New South Wales (NSW) government has accepted all recommendations from the state’s inquiry into Crown Resorts’ money-laundering scandal. One recommendation, in particular, has huge applications for Crown’s major shareholder and Aussie businessman James Packer. One of the 19 recommendations calls for the establishment of an independent casino regulator endowed with the powers of a standing Royal Commission. The new casino regulator will strongly focus on tackling the money laundering dangers associated with the gambling activities in the state, the NSW Minister for Digital and Customer Service Victor Dominello confirmed…

Australia’s biggest gambling firm Tabcorp unveiled plans to deploy artificial intelligence (AI) to strengthen its sports betting business as it competes with major rival operators like Ladbrokes and Sportsbet. The multi-billion sports wagering and lotteries group will roll out an artificial intelligence programme that will carry out computer simulations to predict the possible results of US football matches. This will enable the operator to take wagers on more elements of each match. Despite being the country’s largest gambling company, Tabcorp has recently started to lose ground in the highly competitive…

Isle of Man-based gambling giant Entain announced Thursday it has sealed a deal for the acquisition of the esports betting and entertainment company Unikrn. Entain, previously known as GVC Holdings, owns several major betting companies, including Ladbrokes, Sportingbet, Bwin, and partypoker. The international sports wagering and gambling firm offers its products on 27 regulated markets but works towards expanding its operations into 50 more. Yesterday, Entain agreed to purchase the Washington-based start-up esports wagering platform but is yet to disclose any particulars regarding the new deal’s financial terms. Unikrn is…

The Western Australian Royal Commission heard that the person overseeing the finances of two Crown casinos in Australia had been warned of a number of suspicious transactions that could suggest money laundering. He, however, was unable to remember taking any measures to prevent that. The Royal Commission, which is currently investigating Crown Perth for possible violations of the gambling legislation and its casino licence, heard that in October 2014 the former legal boss of the gambling company, Joshua Preston, sent an email to Alan McGregor, asking him for advice about…

The owner of popular gambling brands Paddy Power and Betfair – Flutter Entertainment – has seen its profits triple to a record high, while gamblers have been losing £6 million to the group on a daily basis. The gambling giant, which also owns Sky Bet, revealed that the losses generated by its customers in Ireland in the UK increased by one-third to £1.1-billion over the first half of the current fiscal year. The losses, however, helped Flutter Entertainment’s profit increase to a new record high of £77 million. In comparison,…

Sportsbet – the Australian flagship sports betting brand of Flutter Entertainment – unveiled a new campaign that had been specially designed to promote responsible gambling and fight problem gambling in the country. The popular Flutter Entertainment’s brand has pledged to put more effort into protecting its customers from facing any harm as a result of gambling services. At a time when the company is considered the leader in the Australian online sports betting market, Sportsbet has rolled out its campaign called “Take a Sec before You Bet”, which is aimed…

West Australia’s Royal Commission has heard that no monthly data highlighting the top spenders on the electronic gaming machines of Crown Perth was passed to the gambling operator’s responsible service of gaming team. Earlier today, James Sullivan, gaming product manager, took part in the ongoing Royal Commission hearing, only to confirm that the aforementioned data was transferred to the gaming machine department of the casino operator. The unit in question was engaged in making an assessment of which games provided in Crown Perth were most popular among the casino’s patrons…

A witness told the West Australia Royal Commission that employees of Crown Resorts had been warned to hustle up business in China in what was described as a “low-key” way before they got arrested in 2016. The witness also rejected suggestions there were some warning signs for the upcoming arrests at the time. Earlier today, the former CEO of the casino company’s Australian Resorts, Barry Felstead, testified and faced questioning regarding the arrests of 19 Crown Resorts’ employees that resulted in 16 casino workers going to jail. The investigation and…

Executives of the Crown Perth casino are trying to distance themselves from their parent company in an effort to keep the casino operating licence. At the time when Joshua Preston, the former chief legal officer of the company appeared before the Western Australia Royal Commission into the gambling operator on August 2nd, he shared that the board of Crown Perth was pretty much independent from the James Packer-associated giant. Still, Mr Preston admitted that the two casinos were involved in money laundering crimes, only a week after the assisting counsels…

Crown Resorts is preparing to make a final effort to defend its casino in Melbourne before the inquiry that is set to decide whether the operating licence of the venue must be suspended or retained. Tomorrow, the struggling Australian gambling giant will have the chance to make its case to the independent investigation that is being carried out in the state of Victoria and highlight the reasons why it should be permitted to keep its casino licence regardless of allegations associated with money laundering and repeated violations of the federal…