Australia

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.

 

 



This content is for members only. To continue reading

Join Now

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.

Aristocrat Leisure’s chief financial officer (CFO) is set to step down in March 2018, after deciding not to relocate to Las Vegas for the continuation of her role.

Tabcorp says it remains confident in its proposed merger with Tatts Group, despite a recent legal challenge from the Australian Competition and Consumer Commission (ACCC), which opposes the merger.

A local council in Western Sydney is calling on the state government to place a cap on pokies (slot machine) numbers in communities with high machine density.

For the second year in a row, Quixant is proud to present its winning selection of gaming computers and monitors at the Australasian Gaming Expo 2017.

The proposed Tabcorp-Tatts Group merger is set to face a new set of hurdles after the ACCC on Monday announced it is seeking a judicial review of its recent approval.

Pages