Oceania

Oceanic news – Australia and nearby countries

Tabcorp raises $230m through retail bookbuild

Tabcorp Holdings has confirmed that it has completed the ‘retail component’ of its AU$600 million (€370 million) entitlement offer, having raised approximately AU$230 million (€142 million). Completing the retail phase of its entitlement offer authorised following Tabcorp publishing its 2019 results, the ASX gambling group sold 8.5 million retail entitlements through the placement generating $2.7 million for company shareholders. The …

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Newson: Allowing in-play betting in Australia ‘a difficult policy position’ for government

Permitting online in-play gambling in Australia has been hampered by the government’s unwillingness to draw down on political capital, thus dampening efforts to identify instances of match-fixing according to Paul Newson, Head of Advisory Practice at Senet. Speaking on the Australia – pushing back on regulations panel at the SBC Summit Barcelona – Digital, Newson explained that in-play betting is …

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Government calls on TAB NZ to support racing’s recovery

New Zealand’s Minister for Racing, Rt Hon Winston Peters, has urged TAB NZ to collaborate with other industry bodies in accelerating the sector’s recovery. In an open letter to Dean McKenzie, the TAB NZ Executive Chair, Peters outlined a requirement for TAB NZ ‘to actively plan contingencies with the (racing) Codes’ in the case of a COVID-19 resurgence. Peters wrote: …

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TAB NZ announces new executive team to lead new racing era

TAB New Zealand (TAB NZ), the new state-run agency overseeing New Zealand’s horseracing wagering and its allocation of funding, has unveiled its new executive leadership team. The agency will be led by Dean Mckenzie as Chairman, the executive who led the development of TAB NZ under his remit to oversee the interim ‘Racing Industry Transition Agency (RITA)’ – a special …

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Senet Australia appoints Paul Newsom as new client advisory lead 

Senet, a multidisciplinary consultancy specialising in gambling compliance, law and business guidance for Australia’s wagering marketplace, has confirmed the appointment of Paul Newsom as its new Head of Advisory Practice. A recognised figurehead for Australian gambling, Newsom most recently served as Deputy Secretary of the New South Wales Department of Industry, responsible for liquor, gambling and racing public policy and …

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Flutter moves to refine merger benefits against 2020 trading realities

Flutter Entertainment Plc has accelerated all corporate directives related to its merger integration with The Stars Group Inc (TSG), but conceded that its 2020 outlook remains ‘highly uncertain’ dependent on further COVID-19 outcomes and regulatory changes across various markets.  This story featured in today’s SBC News 90. To view the latest round-up, watch today’s edition here. Publishing its 2020 interim …

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Soft2Bet continues new market drive with Irokobet launch

Igaming white-label services provider Soft2Bet has unveiled ‘Irokobet’ as its latest online casino and sportsbook property, targeting growth within New Zealand and further African markets.  Irokobet marks Soft2Bet’s 20th white label partner launch, with the software provider operating a roster of online sportsbooks and casinos including CampoBet, Wazamba and Frumzi. Seeking to expand Irokobet within underpenetrated markets such as New Zealand, …

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Tabcorp raises $371m through institutional entitlement offer

Australian racing and wagering company Tabcorp has completed the institutional component of its AU$600 million entitlement offer, with the 97% take-up raising AU$371 million. Tabcorp’s latest financing transaction was revealed following last week’s publication of the ASX gambling group’s 2019/2020 fiscal results, recording operating losses AUS $870 million (€520m), primarily attributed to ‘asset impairment charges’ restructuring the firm’s wagering units. …

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RWA takes zero-tolerance approach to online abuse

Responsible Wagering Australia (RWA) has urged gambling operators to ‘take firm steps’ in identifying and blocking punters that are engaging in the online abuse and harassment of athletes from their platforms It follows on from a series of reports that jockeys, AFL and NRL players are facing a barrage of abuse on social media from exasperated punters. According to Brent …

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Tabcorp expects $1bn hit as ‘COVID and retail contractions’ take effect

Tabcorp Holdings will write down its wagering and media business by at least AUD $1 billion (€605m) as a result of COVID-19 shutdowns and ‘the possible acceleration of retail contraction’. The company made its statement in a filing to the ASX Exchange, in which it revealed that it had undertaken a ‘review of assets’ in which it expects to incur …

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