Oceania

New tax levies set out in next year’s Northern Territory Government budget will stifle sector investments, wagering advocates have cautioned. Announced this week, Australia’s Northern Territory Government (NTG) Budget 25/26 envisions a doubling in the betting exchange tax cap that will come into force starting this July. In its breakdown of the budget, the government forecasted that the betting exchange …

PointsBet appears to be leaning towards the acquisition offer made by Australian betting challenger brand Betr over that made by Japanese digital entertainment group MIXI. Melbourne-headquartered PointsBet, which is active in Australia and Canada and formerly active in the US, states that Betr’s offer may lead to a ‘superior proposal’ to MAXI’s offer. The firm is now committed to carrying …

Australia’s financial intelligence agency, AUSTRAC, has announced that it will expand its intelligence partnership, Fintel Alliance, after it has proved essential in fighting financial crime. Fintel recently launched a campaign on scambling – described as a practice where unlicensed online gambling platforms advertise on social media and trick people to visit a scam website to participate in gambling. Fintel Alliance …

Tabcorp has been granted the rights to trial in-play betting in pubs and clubs by the state of New South Wales (NSW). The ASX-listed gambling group has secured regulatory approval from Liquor & Gaming NSW to pilot in-play betting via mobile app terminals within licensed pub and club venues. The agreement was disclosed by Tabcorp CEO Gillon McLachlan during an …

Leadership of SkyCity Entertainment Group, one of New Zealand’s biggest gaming groups, has stated that market conditions have continued to deteriorate for the company over recent months. The firm issued a brief trading update this week revealing that expected EBITDA for FY2025 will fall 4% from its guidance range of between $225m-$245m. This has been attributed to lower visitation and …

Amid campaigning ahead of the Australian election, independent MPs are putting pressure on the Labor government to continue momentum with gambling law reforms, believing that progress has stalled after years of parliamentary debate and investigations. Betting and gaming, and its social impacts, have been hitting the headlines in Australia over the past few weeks in the context of upcoming parliamentary …

The Star Entertainment Group Ltd remains at risk despite international efforts to save the Australian gambling firm.  In its delayed H125 (31 December 2024) financial statement – which was supposed to come out on 28 February but was postponed amid financial struggles –  the company reported a net deficit of AU$302m (£145m) over the last six months of that year.  …

Canadian sports betting and iGaming operator Rivalry is initiating a strategic review of its options to maximise long-term value. The company has sought advisory services from XST Capital Group LLC, an online gaming-focused investment bank based in the Greater New York City area. Rivalry added that it has secured a loan of US$650,000 (£508,000/€558,000) to support its plans. XST’s webpage …

The full extent of Austrac’s investigation into money laundering failures of Entain’s Australian business have been laid bare according to local media. Austrac, Australia’s financial markets watchdog, has drafted a 640 page report accusing the firm of non-compliance over many years, as reported by the Australian Financial Review, which appears to have seen the report. It is important to note …

Struggling Australian casino company The Star Entertainment Group has secured a financial lifeline with Bally’s Corporation, one of the biggest betting and gaming conglomerates in the US. Bally’s has invested AUS$300m (US$187m/€166.2m) into the company, which runs large casino resorts in Sydney, Brisbane and the Gold Coast. On top of the investment, Bally’s has partnered with the firm with the …