New rules that would have restricted patrons to gambling $1000 in cash per day will not be introduced for another two years after lobbying from casino giants. Two ASX 100 companies have been in a legal battle over trade secrets – and a recent request for new documents suggest it Legal casinos in Australia could be about to turn ugly.
Aristocrat eyes up rivals as poker machine sales soar
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The Nevada gaming regulator had accused Ainsworth Game Technology’s chief executive of being hostile, arrogant, and misleading. Lifting the minimum age to use social media won’t be enough to protect older teenagers from trying online gambling, the former Tabcorp chief executive says. The plan was outlined to staff by the gaming group’s new chief executive Bruce Mathieson jnr, and will lead to hundreds of positions being cut. In a wide-ranging interview, the billionaire businessman also takes aim at the NSW casino regulator, saying it is a “one of the miracles of life” he has a job. A blistering 90-minute interrogation by Las Vegas’ gaming regulator accused the gaming chief executive of being hostile, arrogant and misleading.
Kingsley Bartholomew is a rock star in the world of gambling, where followers seek his advice for a winning edge. The popularity of prediction markets has exploded, and providers are looking to boost liquidity so they can take on gambling groups with multi-leg bets. Tabcorp and former chief executive Adam Rytenskild reached a multimillion dollar settlement over his abrupt sacking by the board. Political and industry sources expect Communications Minister Anika Wells to crack-down on illegal offshore gambling websites.
- A lawsuit filed in the US claims the rapper used the Australian-founded gambling business to pay bots in a scheme to increase the number of times his songs were played.
- The Nevada gaming regulator had accused Ainsworth Game Technology’s chief executive of being hostile, arrogant, and misleading.
- The son of the company’s billionaire founder has commissioned valuations that he says show properties owned by the business are worth 40 per cent more.
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- The former Lendlease and Crown Resorts chief executive is leaving after two major shareholders, including Bally’s, took control of the embattled casino group.
Kjerulf Ainsworth has made the move to stop an off-market takeover by major shareholder Novomatic. Under the deal to offload the prime property to the billionaire dynasty, guests at the Blackstone-owned casino group will still be able to access the course. The British bookmaker said about 120 positions in Australia and New Zealand would go as it tries to reset the business after a change of management. Mobile casino slots this is because playing them is a little more difficult, from the dealer’s spin to the ball’s landing.
Battle of the poker machine giants settled for $190m after two years
The son of the company’s billionaire founder has commissioned valuations that he says show properties owned by the business are worth 40 per cent more. The gaming machine manufacturer had also considered a dual primary listing, but said it was hoping to attract investment from index-tracking funds. Heavyweight investors including Allan Gray and Spheria Asset Management say they will vote against the proposal from the company’s largest shareholder.
Chief executive Steve McCann said the casino was losing high-spending customers who are not criminals because of probity checks that they feel are intrusive. The strategy presented to hoteliers and clubs says the bookmaker will set aside $50 million for betting inducements and $80 million to overhaul its terminals. Denise Coates has retained her title as one of the world’s best-paid executives, even as her gambling empire’s earnings slumped. Mounties, which owns 10 venues across NSW, is the biggest club owner in the state by gaming machine profit.
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Len Ainsworth’s son lobs partial takeover of pokies giant
The pokies manufacturer is planning to release new hardware in Europe and Asia, which it believes could take further market share from competitors. Crooks have benefited by being able to wash their ill-gotten gains in thousands of less-scrutinised venues compared with the bright lights of high-profile casinos. A SkyCity shareholder brought an application seeking to start a derivative action, where he would sue former executives and directors on behalf of the company. A lawsuit filed in the US claims the rapper used the Australian-founded gambling business to pay bots in a scheme to increase the number of times his songs were played.
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