Posted Articles
Scientific Games mulls ASX launch
An American poker machine company is considering a launch onto the Australian Stock Exchange. The Australian Financial Review reports that Las Vegas gaming giant Scientific Games is considering an Australian public offering, which would help it raise fresh capital and pay down debt. The Nasdaq-listed Scientific…
Steve McCann becomes new Crown CEO
Embattled casino operator Crown Resorts has named a new chief executive. The Age reports that outgoing Lendlease boss Steve McCann has been named as Crown’s new CEO, in the midst of an ongoing regulatory crisis that threatens its gambling licences in three states. Crown’s previous CEO,…
Star bids to takeover Crown Resorts
Australia’s second largest casino operator has submitted a proposal to merge with the nation’s largest and most iconic casino operator, Crown Resorts. The ABC reports that Star Entertainment Group has submitted a merger proposal to its main rival, Crown Resorts. The non-binding proposal offers 2.68 The Star shares per Crown…
Apollo Matches Entain’s Bid for Tabcorp
Bidding has heated up for a major Australian wagering and media business. The Sydney Morning Herald reports that private equity outfit Apollo Global Management has matched UK outfit’s Entain’s $3.5 billion bid for the business. Confirming Apollo as a suitor for the first time, Tabcorp…
Blackstone Revises its Crown Takeover Proposal
A private equity group interested in acquiring Crown Resorts has made a fresh bid for the embattled casino operator. The Australian Financial Review reports that Blackstone has returned to Crown with a revised proposal, following its $11.85 a share indicative offer, which was made…
Crown Perth Opens and Shuts Again Due to COVID-19 Cases
While Australia has done well to curtail the COVID-19 virus, the detection of three new cases linked to Perth’s hotel quarantine system has seen Crown Resorts shut its casino operations in the city, just two days after reopening. Inside Asian Gaming reports that the…
Former SkyCity CEO Takes Underpayment Claims to Federal Court
A former SkyCity casino boss is claiming the casino group fired him from his high-paying role to avoid paying hundreds of thousands of dollars worth of bonuses. Adelaide Now reports that Luke Walker, who was general manager of the casino from February 2017 to April 2019 is suing…
Donaco Updates Shareholders with First Quarter Figures
The coronavirus pandemic has landed a heavy blow on ASX-listed Donaco International, which reported a 53.8 percent decline in revenue for the first three months of 2021. Inside Asian Gaming reported that the operator’s flagship casino, Star Vegas, in Poipet, Cambodia was heavily impacted…
SkyCity Hopes to Raise $125m Via Bonds
New Zealand headquartered SkyCity Entertainment wants to raise $125 million via bonds and has flagged its earnings will be well below pre-pandemic levels. NZ Herald reports the gaming, entertainment and hospitality business has released an offer document showing how it can receive an additional $50 million, taking the…
Ballarat Mayor Challenges Pokies Approval Process
The mayor of a regional Victorian town said local councils have no influence over the spread of machines in their local government areas, in light of a recent application for eight new machines in the town. ABC News reports that an application for eight new gaming machines at the…
