Sports betting is the fastest growing form of gambling in Australia, with most punters favoring foreign bookmaking companies with Australian branches, local media reported. Betting on sports rose from A$300 million in 2009-2010 to A$400 million now. Aussie sports punters will lose around A$200 million by the end of this year, the reports said.

Echo Entertainment Chief Executive Officer John Redmond told the Courier Mail in Sydney that his group is ready to invest $1.5 billion in the group’s Gold Coast and Brisbane facilities, if it gets state government approval. Echo has been working on a plan for an integrated tourism and leisure resort in Brisbane with restaurants and retail outlets and also wants to spend several hundred million dollars upgrading its Gold Coast property. 

Australia’s Queensland state will welcome applications for redevelopment of a riverfront site in central Brisbane that includes an existing casino operated by Echo Entertainment Group Ltd. and will consider allowing two more licenses elsewhere in the state, 

Bloomberg reported, citing Premier Campbell Newman. The move challenges Echo, which has three of Queensland’s four current licenses and accounted for 97 percent of casino spending in the state in the 12 months through June.


Crown chairman James Packer says Sydney could become the Monte Carlo of Asia, attracting well-heeled tourists from across the region, but says the country needs to do more to develop its attractions and lure visitors from China. "Sydney is that good - it can be rock-star cool - but I don't think anyone has done Sydney the way Sydney needs to be done and we are competing in a very ferocious world with cities that have a lot of cool things,'' he told local press. Of the 70 million Chinese who traveled abroad in 2011, only about 500,000 visited Australia, official figures show.

Tabcorp says fiscal Q1 revenue from continuing operations rose 2.9 percent to $488.9 million from a year ago. The company reported a jump of 17.7 percent in revenue from Keno to $53.9 million, helped by the game’s launch in Victoria and continued growth in NSW and Queensland. Wagering revenue fell 2.4 percent to $384.6 million, hurt by the new Victorian Wagering and Betting Licence terms. Tabcorp’s Media & International business grew revenue by 6.2 percent, to $49.5 million.


Skycity Entertainment Group announced today that it has reached final agreement with the South Australian Government on the detailed terms of the revised regulatory and taxation environment for the Adelaide Casino. "The signing of these key agreements is an important milestone and paves the way for Skycity to proceed with its A$350 million investment to transform Adelaide Casino into a world class integrated entertainment and tourism complex," the company's CEO Nigel Morrison said.

The Queensland state government is likely to decide whether to allow a second casino license in Brisbane by the end of October, the local press reports. Expressions of interest documents will be drawn up to go out to the market, probably by the end of November, early December, a spokesman for State Development Minister Jeff Seeney said. Echo Entertainment currently holds Brisbane's sole casino license.

Fitch Ratings has affirmed Crown Ltd’s “BBB” long-term issuer default rating (IDR) and senior unsecured rating, with a stable outlook on the IDR. The ratings agency said Crown’s assets in Melbourne and Perth continue to deliver solid earnings, but added there is a risk of concentration as the properties are Crown’s main cash flow generators. Going forward, the company’s 33.7 percent interest in Macau’s Melco Crown will be a growth opportunity, it said.

One of the structures used for the London Olympics is to be shipped out and reassembled for next year's Australasian Gaming Expo (AGE).  The temporary structure will have fully serviced exhibition facilities.  AGE will be held at Glebe Island for the next three years while the exisiting site is under refurbishment.  AGE chief executive Ross Ferrar said that he is confident the new show on Glebe Island will surpass the 15,000 square meters available to it at the old site.

Speaking at a memorial lunch in Brisbane, James Packer confirmed his interest in building a casino in Brisbane, claiming that it was necessary to help boost the country's tourism.  Packer decried the current state of Australia's tourism, saying that it needed more than sunshine and the Sydney opera house to attract visitors.