Tag: gambling
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Are we really happy about building a $3.6b altar to an industry we don’t trust?
It’s a massive construction and engineering achievement. Clever design, too, with the Neville Bonner bridge delivering people from South Bank like an intravenous line into the belly of gambling. Without doubt, there will be massive benefits from the project such as entertainment in a dead part of the city, jobs and tourism. Already, the city…
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New laws bring Big Brother to sinking Star’s Queen’s Wharf
The State Government has introduced legislative amendments to the Casino Control Act for all casinos in the state. It said it had delivered on all the recommendations from the Gotterson inquiry which exposed lax money laundering practices at Star’s casinos on the Gold Coast and Brisbane. The inquiry led to a $100 million fine and…
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Online gamblers pick lifetime ban
National self-exclusion register BetStop was launched in late August and ahead of football finals and spring racing carnivals. People who register themselves can choose to be excluded from wagering services anywhere between three months and a lifetime. The overwhelming majority of people who took up the self-imposed ban since August are aged under 40. More…
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Star talks up renewal but at a much lower share price after 16 per cent plunge
The stock recovered a little during the day but is now down 75 per cent on its level a year ago. Star said it raised a total of $565 million with a take-up rate of 67 per cent. It was reported that pub baron Bruce Mathieson did not take up his entitlement after jumping in…
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SkyCity NZ casinos threatened with shutdown
On Monday, SkyCity announced to the New Zealand stock exchange the Department of Internal Affairs (DIA) had made an application to the Gambling Commission to suspend operations. The DIA action follows an investigation into SkyCity’s “harm minimisation practices” after a gambler in its Auckland casino complained. “The (DIA) secretary believes SkyCity has breached important harm-minimisation…
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Star’s problems mount after horror year leaves $2.4b loss; April opening still on track
The result caps a disastrous year for the company which faced $100 million fines in NSW and Queensland over its money laundering compliance failures following two inquiries. Before significant items the result was a $41 million profit and its EBITDA of $317 million was slightly ahead of guidance. Chief executive Robbie Cooke said to describe…
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Year of living dangerously: Star’s Hong Kong backer still under cloud after 12 months
Chow Tai Fook Enterprises is the investment holding company for the Cheng family in Hong Kong and one of Asia’s largest diversified conglomerates. However media reports, including those by the ABC, alleged it had criminal associations. The then-Attorney-General Shannon Fentiman said the allegations were “incredibly concerning” and they were referred to the Office of Liquor…
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Casino let convicted drug trafficker gamble
Crown has agreed to pay $450 million for breaches of anti-money laundering and counter-terrorism laws after admitting it failed to monitor and report suspicious transactions made through its Melbourne and Perth casinos. On Monday, the Federal Court heard volumes of cash were handed over to the gaming giant in suitcases, envelopes, brown paper bags and…
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Evening the odds against online gambling
Many other countries have a gambling culture similar to Australia, but Australians lose more to gambling than any other country in the world. Australians lose $25 billion dollars on legal forms of gambling every year. This was just one of the messages we heard as part of the Federal Parliament’s Standing Committee on Social Policy and…
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Push to ban online gambling ads
Among the committee’s 31 recommendations was a plan to phase out online gambling ads over a three-year period, eventually banning the advertisements across all forms of media. The first stage of the plan would prohibit online gambling ads during school pick-up and drop-off periods, as well as remove exemptions for the ads during news and…