Oceania

Betfair switches to a B2B model in Australasia

Betfair PLC today announces that it has sold its 50% stake in Betfair Australasia Pty Limited (“Betfair Australia”) to joint-venture partner Crown Resorts Limited Betfair has concurrently entered into an agreement with Crown to continue to provide its betting exchange in Australasia under a B2B model and will receive a share of revenues generated by the exchange in those markets. …

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Tabcorp post improved 2014 performance

Australian gaming and sports betting operator Tabcorp, posted a net profit of AUS $ 129.9 million, up 2.6% on 2013 corresponding period. Tabcorp financial performance suffered  from its discontinued Victoria gaming operations, which impacted  business revenues with $19.2 million tax levies.  Tabcorp senior management are in the process of challenging the levies imposed and claiming revenues back. The Australian gambling …

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Bet365 Australia reports AUS $40.8 million losses for 2014

Bet365’s Australian business division reported a yearly loss of AUS$ 40.8 million (£22.3 million). The losses amounted by the division were filed with the Australian Securities and Investments Commission. The Darwin licensed betting and gaming division began operations in 2012, in its three years in existence Bet365 Australia has accumulated total net losses of AUS$ $77 million (£42.2 million). The …

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Doubling up down under

A year after acquiring tomwaterhouse.com, William Hill Australia said it has nearly doubled operating profit. The group’s interim results for the first six months of the year record gains in wagering, unique actives, and new accounts. Cost per acquisition was down 36 per cent during the same period. William Hill Australia now accounts for seven per cent of total revenue, …

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Scientific Games agrees $5.1bn Bally deal

Scientific Games Corporation is to by Bally Technologies in a deal worth US$5.1bn. “The acquisition of Bally provides us with a unique opportunity to combine two exceptional companies with long track records of creating leading-edge games and gaming technology products for players and delivering innovative solutions to our customers,” said Gavin Isaacs, Scientific Games’ President and Chief Executive Officer. “With …

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Tabcorp agrees deal for £58.4m ACTTAB

Australian wagering operator Tabcorp has reached an agreement with the Australian Capital Territory Government to acquire ACTTAB for AUS$105.5 million (£58.4m). ACTTAB is a territory-owned provider of totalisator and fixed odds wagering, Keno and Trackside products. The business offers its services and products through a distribution network comprised of 53 retail outlets located throughout Canberra, as well as telephone and …

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Numis Corp Suggests William Hill & Paddy Power Merger

Financial Stock brokers and corporate advisors Numis Corp have suggested that William Hill and Paddy Power explore a potential merger. A Numis Corp statement on Tuesdays London fianancial trading, indicated that the conditions in the sports betting and gambling market, could see the potential merger of Paddy Power and William Hill. “This would create a much more attractive investment than …

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Australian Wagering Council hits out at Racing NSW over minimum bet rules

The Australian Wagering Council has hit out at Racing NSW for implementing new minimum bet rules on wagering service operators. The group, which called for a freeze on the proposal last month, said the condition means online bookmakers will stand to lose a minimum amount on any single fixed odds wager on NSW Thoroughbred races, and criticised the policy as …

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Sports Ministers discuss sports integrity and development in Glasgow

53 international sports ministers met in Glasgow to discuss development and integrity of sports in developing countries. The ongoing meetings took place before the opening of the Glasgow 2014 Commonwealth Games, and has been named by officials as the Commonwealth Sports Ministers Meeting. The meeting between international ministers focused on the development of professional sports in underprivileged nations within the …

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AFL searches for new betting partnership

Melbourne newspaper The Age reports that the AFL will consider a new gambling partnership, once their existing Tabcorp deal expires. It’s believed that BetEasy or William Hill Australia could be lined up to replace the wagering and gaming giant, whose brands include the likes of TAB in NSW and Victoria. However, Chief Operating Officer Craig Nugent believes the firm is in a strong position to extend the contract beyond 2015, with rumours …

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