Australia

The Australian competition regulator has withdrawn its bid to stop the Tabcorp-Tatts merger from moving forward while the appeal against its approval is heard.

Australia’s corporate bookmakers will be the hardest hit should South Australia’s point of consumption tax be adopted by other states in the country, says CLSA analyst Anthony Longo in a note on Friday.

It’s now less than a month to go to the Australasian Gaming Expo, which is set to open at the new ICC Sydney in Darling Harbour on August 15 to 17, 2017.

Aruze Gaming’s Australia arm has announced the appointment of Cameron Louis as general manager.

Malaysian casino operator Genting Group has sold its stake in Australia’s The Star Entertainment Group, according to sources speaking to AFR’s Street Talk.

A merger between Australian casino operators Crown Resorts and Star Entertainment Group could deliver up to A$100 million (US$77.4 million) in cost synergies, according to Citi analysts who ran the numbers on the hypothetical deal.

Australia’s gaming and gambling market is currently valued over US$18 billion. With massive growth comes greater challenges as well as new opportunities.

Australia’s booming sports betting market is still seen as being attractive to foreign investors despite the merger of local incumbents Tatts and Tabcorp, which are now expected to dominate the market.

 

Australia’s booming sports betting market is still seen as being attractive to foreign investors despite the merger of local incumbents Tatts and Tabcorp, which are now expected to dominate the market. Opponents to the merger say the combination will reduce competition in the fastest growing area of the market - online and telephone betting. It also comes hot on the heels of new online gambling legislation, which far from bringing Australia in line with international standards, imposed a more restrictive regime.

 

 



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Australian wagering operator CrownBet has launched its own appeal against the recent decision from the Australian Competition Tribunal (ACT) approving the Tabcorp-Tatts Group merger.

The $3 billion development on the Queen’s Wharf in Brisbane will begin selling apartments related to the project in the 2019 financial year, local media reports.

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