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Sunday, August 8, 2010
Australian Casino And Political News, by Greg Tingle - 7th August 2010
Australia shows no sign of loosing its top spot as both a casino, online casino and political hotbed. The upcoming federal election, anti internet filter forum, sweet casino deals and revamp to many of Australia's land based casinos adds further fuel to the fire. Media Man and Gambling911 follows the campaign trail, dodging and weaving around the Aussie casino wars with another jam packed report for your culinary delight...
Queensland - Tabcorp Playing Political And Tourism Card: $600m Tourism Boost For 1000 Pokies?...
"Banana Bender" casinos look to undergo a revamp to the tune of more than half a billion dollars! You read correctly... half a Billion smackaroos.
The move it predicated to significantly boost the Queensland tourism industry, but time will tell.
However the size of the investment in Tabcorp owned and operated Gold Coast and Brisbane casinos rests on State Government willingness to grant the company more poker machine licences. Interesting hey.
We've learned that plans for Brisbane's Treasury Casino now include a 5-star hotel complete with 1000-seat ballroom, nightclub, creme de la creme restaurants and retail and high roller gaming facilities.
Jupiters on the Gold Coast would also sprout a new hotel tower on its site plus more conference facilities, 6 restaurants, nightclubs and a spa (bring your own women or look to pick up on site, or reach for the phone book or internet).
Insiders reckon Tabcorp is trying to bring back high rollers and basically catch ... er, capture the Oriental high-roller VIP sector. An extra $600 million in revenue could be picked up if done correctly.
Here's the catch... they need and extra 1000 pokies to its casinos to surge revenues and underwrite the expansion. Tabcorp would likely commit only 25% ($150 million) and bin its Brisbane dreams.
Tabcorp has requested the Government to sell it licences to unused pokies which could be relocated to the land based casinos. This move avoids any attempt to increase the number of machines the Government has allowed under its cap.
Tabcorp chief executive Elmer Funke Kupper advised the firm understood the sensitivities about pokies, hence its attempt to buy existing ones.
"What we have to realise is that casinos, particularly integrated resorts, are made for this sort of business and have all the infrastructure around responsible gambling and responsible service of alcohol," he said.
Treasurer Andrew Fraser on Saturday said the state government welcomed Tabcorp's proposal.
"This project has the potential to deliver jobs and a boost to our economy," Mr Fraser said.
"The project has the exciting potential to provide a welcome boost to the tourism infrastructure on the Gold Coast and a new five star hotel in Brisbane's CBD.
He said Tabcorp advised the state government in the last month that it would be looking to provide a formal submission about investment plans at its Queensland properties.
"The government looks forward to receiving a detailed submission regarding Tabcorp's investment proposals," he said.
"This is a massive proposal and one that obviously has many issues to consider.
"We will be considering the proposal in the context of our strong policy commitments on gambling regulation and the recently released Productivity Commission report on gambling."
Sydney, Australia: IGT to Show a New Spin on Gaming at the Australasian Gaming Expo...
International Game Technology, a global leader in creating the games players love and network systems that improve the player experience, announced today that, at the Australasian Gaming Expo (AGE) in Sydney on Aug. 8-10, the Company will launch a new wheel-based link, Wheel of Gold®, showcase one of the largest selections of new games for venues of all sizes, and provide customers with insightful presentations. IGT's booth at AGE will demonstrate the Company's continued focus on supporting a range of venues with the widest variety of games across all denominations and styles. IGT's goal is to ensure that all venues have a choice that suits their player demographics in Australia and New Zealand. "We are looking forward to a successful AGE 2010 and to building on the solid foundations IGT has established in the Australian and New Zealand gaming industry," said Norris Goudy, general manager sales and marketing for IGT Australia. "We're demonstrating our commitment by providing our local customers with an array of innovative products and systems that are based on our global strength and tailored to meet local regulatory and venue requirements." The new Wheel of Gold® game features a very distinctive 32-inch portrait LCD screen, called the Tower Top, and a great new video wheel spin feature. Also in the booth will be Jackpot Jewels®, a new themed bank with three jackpots, following hot on the heels of IGT's chart topping Gold Fever® games. Debuting with two low denomination games, Jackpot Jewels® includes bright signage, adding a touch of Vegas glitz to gaming floors Down Under. And, putting an exciting twist on games is Diamond Club. Diamond Club is a mid-denomination game with fun graphics and a night club theme where players can choose from a variety of dance floor backgrounds. Couple this with some upbeat background music and you've got a game that appeals to 'the young at heart' player. Last year's AGE saw the launch of the IGT bluechip Neo® cabinet, which has become a mainstay on gaming floors. "It's only been a year since the launch of our new cabinet into a highly competitive market and already there are over 30 new games available including chart toppers such as Gold Fever®," said Goudy. "This year at AGE, our focus will be on more new games, our system solutions and providing value added business information from industry experts." Drawing on the global strength of being part of the world's largest supplier of games and systems means that IGT Australia can deliver a total solution for customers. A big part of this strength is IGT Systems and this area of the booth will certainly cause a buzz. "We'll be providing live demonstrations of future products like IGT's sbX® server-based gaming solution, targeted for the Australian and New Zealand gaming industry," said Goudy. "These advances are just a part of the reason why so many venues have placed their faith and future in the hands of IGT Systems." To demonstrate IGT's focus on the customer, the design of the Company's booth has been designed to look like a real venue with a gaming room, outdoor gaming area, theatre, two bars, entertainment and meeting rooms. Additionally, IGT will be running free business presentations from club and industry experts which include:
Dr Moni Lai Storz, Chopsticks People Revealed for Global Business – A presentation on how bridging the cultural divide between Asians and Australians can lead to success.
Erik Munoz, Just How Social is Social Media? - A journey through the techno-babble, jargon and trends in social media technology.
Professor Sudhir Kale, How to Succeed Using the Right Marketing Plan - How using the right marketing plan for your business leads to the outcomes you want.
Jacqui Matthews, Loyalty for all Shapes and Sizes - How operators can use their resources to deliver relationship marketing strategies that fit their business and generate powerful word of mouth marketing.
Tracey Van Rossum, The Devil Wears Prada - Transforming a venue to engage the entire market and demographic in which it sits.
Aussie Pokie King Bruce Mathieson Gives Pokies Out Of Love...
Pokie king of the kids Bruce Mathieson advises he gave away hundreds of pokies to Carlton Footy Club in the name of love. How sweet.. where's ours mate? Just kidding.
The former Blues footy director and life-long supporter has handed over control of about 300 one armed bandits to the footy club. These pokies generate cash and will help cement the future of the club for years, perhaps decades. Gambling losses at the 4 hotels which have the pokies totalled $22.6 million last year. The Blues are set for a big win thanks to the pokies every year.
"I love the club. It's something we (his family gaming empire) wanted to do and so that's what we did," Mathieson told the Murdoch press. "We'll run it under management for them, but they are their machines under their control. Hopefully it is very good for them. As long as it is very successful I am happy. Even when I was on the board I said when the time comes I will do it - and I've done it." The billionaire businessman did not hide his disappointment with Carlton's form or some selections at the draft table during the past 10 years.
"Everyone is terribly disappointed - we need to make vast improvements. Everyone that is there has got to look at it," Mathieson said.
But he has ruled out stepping in as club president, revealing he spent the majority of his days living in Queensland.
He said the decision to sack Brendan 'Fev' Fevola had been vindicated - and should have happened five years ago.
Quizzed whether he would consider taking on the Carlton presidency to help out good mate Stephen Kernahan, Mathieson replied: "No. I spend 80% of my time in Queensland and I just couldn't devote the time that is required."
Under the Mathieson pokies coup, money will flow to Carlton from the Royal Oak in Richmond, the Vic Inn at Williamstown, Club Laverton and the Manningham Club.
The Yarra Valley Country Club, on land owned by Mathieson, is also expected to fall under Carlton's control.
Two of the gaming venues were previously controlled by Richmond and the Western Bulldogs.
Tigers president Gary March this week told press his board felt no animosity towards the pokies baron over the decision that has wiped $300,000 a year from Richmond's books.
Mathieson was among a group of Blues powerbrokers who famously moved against former club president John Elliott in late 2002, ending his 20-year tenure at Carlton.
Australian Poker Loving Fugitive Nabbed After Organising Online Poker Game Via Facebook...
An Aussie fugitive who escaped jail whilst on a hospital visit has been located by police a week after his escape. He was nabbed after posting messages to friends on Facebook and tried to organise an online poker game. Justin Grant was serving a 5 year prison sentence (Armed Robbery) for 5 years. He escaped on a hospital visit in Townsville on 15th July. During his week as a fugitive from the law, he frequently went on Facebook and left friends such comments as: “Ha u watch ile hav to hand myself in before they cach me.” The 21 year old also tried to organise a poker game between mates before police eventually caught him on Friday, in a McDonalds in southern Townsville. Others have been nabbed via the Facebook connection also. In December 2009, Craig Lynch teased police posting pictures of him eating Christmas dinner and holding 'wanted signs'. Unimpressed officers didn't take long to find the escapee and return him back to the slammer.
Auckland, New Zealand: Casino Says No Jackpot To Excluded Member...
A casino in Auckland Australia is refusing to pay a punter that won a jackpot for $44,000. 6 years back a 22 year old Sothea Sinn of New Zealand asked SkyCity Casino for a self exclusion ban. 6 years later, Sinn says he thought that ban would have expired by now. The casino contends that the ban does not expire until Sinn takes attends mandatory gambling counseling sessions. At that time, the would be jackpot winner could win a jackpot and apparently not get screwed out of it. He was however not refunded the money he gambled to win the jackpot, or excluded in any other way prior to the jackpot win. Sinn and his girl both self excluded in 2004. Sinn says he intends to seek the assistance of an attorney in collecting his monies. Good luck.
Australian Politics: 'No Bull' Turnbull Hosts Anti-Filter Forum...
Former Opposition leader and Federal member of Wentworth, Malcolm Turnbull, hosting an Internet filtering forum in Sydney today (Saturday). The panel members will included former Telstra BigPond group manager, Justin Milne, Getup! national director, Simon Sheikh, and Mr Turnbull himself! Internet projects of Mr Turnbull helped make him a millionaire including the famed OzEmail. He remains one of Australia's most respected and financially wealthy politicians and is seen as quite the 'Peoples Champion'. Media Man told the captive audiece that the internet filter had cost time and money, and has cost white and black Australia jobs... one's they had earmarked for the firm, but has spent thousands on legal advise... money that could have gone into empoying people, including a tie in with GenerationOne.
Punters, er readers, stay glued to Media Man reports via Gambling911 for more "can't miss" information on the Australian casino and political wars.
Gambling911 Politics
http://www.gambling911.com/politics.html
Media Man Profiles
Australia
Politics
Wrap Up...
Readers... er, punters, how good was that. Chock full of goodness you have come to expect from Gambling911 and MM. Granted, the Aussie Casino Wars are great material to work with, and an upcoming Aussie political election doesn't go astray either. Who will win the Australian Casino Wars - Packer's Crown Limited or Tabcorp? Tell us (and the world) in the forum. Is the Aussie internet filter costing job opportunities for white and black Australia? Comon', don't be shy... the big wigs of Australian politics and business read and hang on every word at your beloved Gambling911.
The Late News...
A media insider leaked that PartyGaming and other igaming firms are watching the Australian political and gambling scene very closely, and are aware of a certain media man's numerous public sightings with Australian politicians. Those who do their research will know that's "No Bull" (hint hint). Richard Branson, the champion of Virgin Games and Virgin Gaming is also currently doing Australia. Where there's smoke, there's fire, so don't touch your dial.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
*The writer owns shares in Crown Limited
Website Network
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Media Man
Media Man Australia
Media Man Asia
Media Man Canada
Media Man Games
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Global Gaming Directory
Queensland - Tabcorp Playing Political And Tourism Card: $600m Tourism Boost For 1000 Pokies?...
"Banana Bender" casinos look to undergo a revamp to the tune of more than half a billion dollars! You read correctly... half a Billion smackaroos.
The move it predicated to significantly boost the Queensland tourism industry, but time will tell.
However the size of the investment in Tabcorp owned and operated Gold Coast and Brisbane casinos rests on State Government willingness to grant the company more poker machine licences. Interesting hey.
We've learned that plans for Brisbane's Treasury Casino now include a 5-star hotel complete with 1000-seat ballroom, nightclub, creme de la creme restaurants and retail and high roller gaming facilities.
Jupiters on the Gold Coast would also sprout a new hotel tower on its site plus more conference facilities, 6 restaurants, nightclubs and a spa (bring your own women or look to pick up on site, or reach for the phone book or internet).
Insiders reckon Tabcorp is trying to bring back high rollers and basically catch ... er, capture the Oriental high-roller VIP sector. An extra $600 million in revenue could be picked up if done correctly.
Here's the catch... they need and extra 1000 pokies to its casinos to surge revenues and underwrite the expansion. Tabcorp would likely commit only 25% ($150 million) and bin its Brisbane dreams.
Tabcorp has requested the Government to sell it licences to unused pokies which could be relocated to the land based casinos. This move avoids any attempt to increase the number of machines the Government has allowed under its cap.
Tabcorp chief executive Elmer Funke Kupper advised the firm understood the sensitivities about pokies, hence its attempt to buy existing ones.
"What we have to realise is that casinos, particularly integrated resorts, are made for this sort of business and have all the infrastructure around responsible gambling and responsible service of alcohol," he said.
Treasurer Andrew Fraser on Saturday said the state government welcomed Tabcorp's proposal.
"This project has the potential to deliver jobs and a boost to our economy," Mr Fraser said.
"The project has the exciting potential to provide a welcome boost to the tourism infrastructure on the Gold Coast and a new five star hotel in Brisbane's CBD.
He said Tabcorp advised the state government in the last month that it would be looking to provide a formal submission about investment plans at its Queensland properties.
"The government looks forward to receiving a detailed submission regarding Tabcorp's investment proposals," he said.
"This is a massive proposal and one that obviously has many issues to consider.
"We will be considering the proposal in the context of our strong policy commitments on gambling regulation and the recently released Productivity Commission report on gambling."
Sydney, Australia: IGT to Show a New Spin on Gaming at the Australasian Gaming Expo...
International Game Technology, a global leader in creating the games players love and network systems that improve the player experience, announced today that, at the Australasian Gaming Expo (AGE) in Sydney on Aug. 8-10, the Company will launch a new wheel-based link, Wheel of Gold®, showcase one of the largest selections of new games for venues of all sizes, and provide customers with insightful presentations. IGT's booth at AGE will demonstrate the Company's continued focus on supporting a range of venues with the widest variety of games across all denominations and styles. IGT's goal is to ensure that all venues have a choice that suits their player demographics in Australia and New Zealand. "We are looking forward to a successful AGE 2010 and to building on the solid foundations IGT has established in the Australian and New Zealand gaming industry," said Norris Goudy, general manager sales and marketing for IGT Australia. "We're demonstrating our commitment by providing our local customers with an array of innovative products and systems that are based on our global strength and tailored to meet local regulatory and venue requirements." The new Wheel of Gold® game features a very distinctive 32-inch portrait LCD screen, called the Tower Top, and a great new video wheel spin feature. Also in the booth will be Jackpot Jewels®, a new themed bank with three jackpots, following hot on the heels of IGT's chart topping Gold Fever® games. Debuting with two low denomination games, Jackpot Jewels® includes bright signage, adding a touch of Vegas glitz to gaming floors Down Under. And, putting an exciting twist on games is Diamond Club. Diamond Club is a mid-denomination game with fun graphics and a night club theme where players can choose from a variety of dance floor backgrounds. Couple this with some upbeat background music and you've got a game that appeals to 'the young at heart' player. Last year's AGE saw the launch of the IGT bluechip Neo® cabinet, which has become a mainstay on gaming floors. "It's only been a year since the launch of our new cabinet into a highly competitive market and already there are over 30 new games available including chart toppers such as Gold Fever®," said Goudy. "This year at AGE, our focus will be on more new games, our system solutions and providing value added business information from industry experts." Drawing on the global strength of being part of the world's largest supplier of games and systems means that IGT Australia can deliver a total solution for customers. A big part of this strength is IGT Systems and this area of the booth will certainly cause a buzz. "We'll be providing live demonstrations of future products like IGT's sbX® server-based gaming solution, targeted for the Australian and New Zealand gaming industry," said Goudy. "These advances are just a part of the reason why so many venues have placed their faith and future in the hands of IGT Systems." To demonstrate IGT's focus on the customer, the design of the Company's booth has been designed to look like a real venue with a gaming room, outdoor gaming area, theatre, two bars, entertainment and meeting rooms. Additionally, IGT will be running free business presentations from club and industry experts which include:
Dr Moni Lai Storz, Chopsticks People Revealed for Global Business – A presentation on how bridging the cultural divide between Asians and Australians can lead to success.
Erik Munoz, Just How Social is Social Media? - A journey through the techno-babble, jargon and trends in social media technology.
Professor Sudhir Kale, How to Succeed Using the Right Marketing Plan - How using the right marketing plan for your business leads to the outcomes you want.
Jacqui Matthews, Loyalty for all Shapes and Sizes - How operators can use their resources to deliver relationship marketing strategies that fit their business and generate powerful word of mouth marketing.
Tracey Van Rossum, The Devil Wears Prada - Transforming a venue to engage the entire market and demographic in which it sits.
Aussie Pokie King Bruce Mathieson Gives Pokies Out Of Love...
Pokie king of the kids Bruce Mathieson advises he gave away hundreds of pokies to Carlton Footy Club in the name of love. How sweet.. where's ours mate? Just kidding.
The former Blues footy director and life-long supporter has handed over control of about 300 one armed bandits to the footy club. These pokies generate cash and will help cement the future of the club for years, perhaps decades. Gambling losses at the 4 hotels which have the pokies totalled $22.6 million last year. The Blues are set for a big win thanks to the pokies every year.
"I love the club. It's something we (his family gaming empire) wanted to do and so that's what we did," Mathieson told the Murdoch press. "We'll run it under management for them, but they are their machines under their control. Hopefully it is very good for them. As long as it is very successful I am happy. Even when I was on the board I said when the time comes I will do it - and I've done it." The billionaire businessman did not hide his disappointment with Carlton's form or some selections at the draft table during the past 10 years.
"Everyone is terribly disappointed - we need to make vast improvements. Everyone that is there has got to look at it," Mathieson said.
But he has ruled out stepping in as club president, revealing he spent the majority of his days living in Queensland.
He said the decision to sack Brendan 'Fev' Fevola had been vindicated - and should have happened five years ago.
Quizzed whether he would consider taking on the Carlton presidency to help out good mate Stephen Kernahan, Mathieson replied: "No. I spend 80% of my time in Queensland and I just couldn't devote the time that is required."
Under the Mathieson pokies coup, money will flow to Carlton from the Royal Oak in Richmond, the Vic Inn at Williamstown, Club Laverton and the Manningham Club.
The Yarra Valley Country Club, on land owned by Mathieson, is also expected to fall under Carlton's control.
Two of the gaming venues were previously controlled by Richmond and the Western Bulldogs.
Tigers president Gary March this week told press his board felt no animosity towards the pokies baron over the decision that has wiped $300,000 a year from Richmond's books.
Mathieson was among a group of Blues powerbrokers who famously moved against former club president John Elliott in late 2002, ending his 20-year tenure at Carlton.
Australian Poker Loving Fugitive Nabbed After Organising Online Poker Game Via Facebook...
An Aussie fugitive who escaped jail whilst on a hospital visit has been located by police a week after his escape. He was nabbed after posting messages to friends on Facebook and tried to organise an online poker game. Justin Grant was serving a 5 year prison sentence (Armed Robbery) for 5 years. He escaped on a hospital visit in Townsville on 15th July. During his week as a fugitive from the law, he frequently went on Facebook and left friends such comments as: “Ha u watch ile hav to hand myself in before they cach me.” The 21 year old also tried to organise a poker game between mates before police eventually caught him on Friday, in a McDonalds in southern Townsville. Others have been nabbed via the Facebook connection also. In December 2009, Craig Lynch teased police posting pictures of him eating Christmas dinner and holding 'wanted signs'. Unimpressed officers didn't take long to find the escapee and return him back to the slammer.
Auckland, New Zealand: Casino Says No Jackpot To Excluded Member...
A casino in Auckland Australia is refusing to pay a punter that won a jackpot for $44,000. 6 years back a 22 year old Sothea Sinn of New Zealand asked SkyCity Casino for a self exclusion ban. 6 years later, Sinn says he thought that ban would have expired by now. The casino contends that the ban does not expire until Sinn takes attends mandatory gambling counseling sessions. At that time, the would be jackpot winner could win a jackpot and apparently not get screwed out of it. He was however not refunded the money he gambled to win the jackpot, or excluded in any other way prior to the jackpot win. Sinn and his girl both self excluded in 2004. Sinn says he intends to seek the assistance of an attorney in collecting his monies. Good luck.
Australian Politics: 'No Bull' Turnbull Hosts Anti-Filter Forum...
Former Opposition leader and Federal member of Wentworth, Malcolm Turnbull, hosting an Internet filtering forum in Sydney today (Saturday). The panel members will included former Telstra BigPond group manager, Justin Milne, Getup! national director, Simon Sheikh, and Mr Turnbull himself! Internet projects of Mr Turnbull helped make him a millionaire including the famed OzEmail. He remains one of Australia's most respected and financially wealthy politicians and is seen as quite the 'Peoples Champion'. Media Man told the captive audiece that the internet filter had cost time and money, and has cost white and black Australia jobs... one's they had earmarked for the firm, but has spent thousands on legal advise... money that could have gone into empoying people, including a tie in with GenerationOne.
Punters, er readers, stay glued to Media Man reports via Gambling911 for more "can't miss" information on the Australian casino and political wars.
Gambling911 Politics
http://www.gambling911.com/politics.html
Media Man Profiles
Australia
Politics
Wrap Up...
Readers... er, punters, how good was that. Chock full of goodness you have come to expect from Gambling911 and MM. Granted, the Aussie Casino Wars are great material to work with, and an upcoming Aussie political election doesn't go astray either. Who will win the Australian Casino Wars - Packer's Crown Limited or Tabcorp? Tell us (and the world) in the forum. Is the Aussie internet filter costing job opportunities for white and black Australia? Comon', don't be shy... the big wigs of Australian politics and business read and hang on every word at your beloved Gambling911.
The Late News...
A media insider leaked that PartyGaming and other igaming firms are watching the Australian political and gambling scene very closely, and are aware of a certain media man's numerous public sightings with Australian politicians. Those who do their research will know that's "No Bull" (hint hint). Richard Branson, the champion of Virgin Games and Virgin Gaming is also currently doing Australia. Where there's smoke, there's fire, so don't touch your dial.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
*The writer owns shares in Crown Limited
Website Network
Media Man International
Media Man
Media Man Australia
Media Man Asia
Media Man Canada
Media Man Games
Media Man Brand
Media Man Network
Casino News Media
Poker News Media
Global Gaming Directory
Saturday, August 7, 2010
Crown Limited's Burswood Entertainment Complex Expansion
Crown Limited's Burswood Entertainment Complex Expansion
Never completely satisfied with his casino interests and portfolio down under and in the greater Asia Pacific region, Australian casino and lifestyle king, James Packer, is investing in his ever growing "war chest", even while sailing the high seas in his Artic P, with both Melbourne based Crown Casino and Perth's Burswood to get major boosts, adding to the giant chess board in the world renown Aussie casino wars.
Crown Casino is in advanced stages of planning a significant redevelopment of the Southbank promenade that will further increase the casino's floor space, including extra gaming areas. Punters, be it whales, dolphins, tuna or other will be pleased.
The strategic chess move is in fact the biggest redevelopment of the promenade since Crown relocated to the banks of the scenic Yarra River in 1997. At least 6 restaurants along Southbank will either be redeveloped or replaced and planter boxes will be replaced by new landscaping along the waterfront.
These moves will bring new life to the promenade, making the casino complex more relaxing, accessible and providing more room for gambling and dining (including drinking).
Fairfax Media advise that revamp plans show a new gambling area above the Lucky Chan restaurant. The Waterfront and Cafe Greco restaurants will be replaced by a giant 300-seat Atlantic seafood restaurant.
The casino has lodged a planning application with the state government called the 'Crown Promenade Masterplan' to rework the Southbank precinct between Spencer St and Queens Bridge St.
The massive project is forecast to take 2 to 3 years to complete, should it get the green light from the state government.
Crown could not (or would not - speculation only) say how much the refurbishment would cost or how much larger the famed casino would be in the aftermath.
In a very sweet and smart deal, er... agreement, it remunerates the state government $1 a year rent on its Southbank location under a deal which lasts until 2034. Yes, you read correctly folks - $1 per year rent. Pluck a duck... we're paying too much for our Bondi Beach digs.
Casinos spokesman, Gary O'Neill, advised some of the expansion of the gaming floor was linked to the casino's deal with the state government last year to provide an additional 150 gambling tables. Shuffle up and deal with red hot poker, war and more. Cool.
O'Neill said the Southbank refurbishment was "part of our strategy to grow the number of international tourists visiting Crown and Melbourne. Under the terms of the legislation setting up the casino in the first instance, Crown is charged with maintaining a world-class and internationally competitive facility,".
He said the new Atlantic restaurant was expected to open early next year but no date had been set.
Gaming Minister Tony Robinson told reporters last year after the new tables were approved "If people ultimately want to have the boiled-sweets experience of casinos, let them go to Sydney. If they want the rolled-gold, dark chocolate experience, they're going to keep coming to Melbourne, and we're going to ensure that."
Crown executives have now met Department of Planning officials to discuss the master plan and a duplicate copy has been whipped away pronto to the Melbourne City Council for kind consideration.
Anti-gambling campaigner Tim Costello, always up for a quote or wise crack, criticised the casino expansion plans. "Again it proves that 'ministers of the crown' has a particular meaning in Victoria. They (Crown) get whatever they want as the first citizen," he said. Tim, we understand your passion and being a man of God and all, but mate, its getting very long in the tooth. It's about tourism, jobs (and business).
The man of God (we believe too ok) said the expansion failed the "commonsense test" as the community was opposed to more gambling in Victoria? Who said... did you do your own survey?
Gamblers lost $1.2 billion at Crown in the 2008-09 financial year and the state government collected $136 million in taxes. How much gamblers won has proved to be a challenge to find out, even for the Media Man group.
Rebecca Harrison, spokeswoman for the Gaming Minister, went on record with "In December last year there was bipartisan approval so the casino could expand its gaming operations." Nuff said.
Burswood Entertainment Complex: Numbers...
Return On Investment - circa 2013.
450 new jobs in 3 years, some of which earmarked for GenerationOne (an Andrew "Twiggy" Forrest and James "Casino King" Packer and friends initiative).
Mr Barry Felstead, Burswood chief exec advised along with $130 million of capital expenditure already made, Burswood would be investing almost half a billion dollars over a 5-year period.
"The investment will bring significant and sustained benefits to Perth and Western Australia," Mr Felstead told the press.
Never completely satisfied with his casino interests and portfolio down under and in the greater Asia Pacific region, Australian casino and lifestyle king, James Packer, is investing in his ever growing "war chest", even while sailing the high seas in his Artic P, with both Melbourne based Crown Casino and Perth's Burswood to get major boosts, adding to the giant chess board in the world renown Aussie casino wars.
Crown Casino is in advanced stages of planning a significant redevelopment of the Southbank promenade that will further increase the casino's floor space, including extra gaming areas. Punters, be it whales, dolphins, tuna or other will be pleased.
The strategic chess move is in fact the biggest redevelopment of the promenade since Crown relocated to the banks of the scenic Yarra River in 1997. At least 6 restaurants along Southbank will either be redeveloped or replaced and planter boxes will be replaced by new landscaping along the waterfront.
These moves will bring new life to the promenade, making the casino complex more relaxing, accessible and providing more room for gambling and dining (including drinking).
Fairfax Media advise that revamp plans show a new gambling area above the Lucky Chan restaurant. The Waterfront and Cafe Greco restaurants will be replaced by a giant 300-seat Atlantic seafood restaurant.
The casino has lodged a planning application with the state government called the 'Crown Promenade Masterplan' to rework the Southbank precinct between Spencer St and Queens Bridge St.
The massive project is forecast to take 2 to 3 years to complete, should it get the green light from the state government.
Crown could not (or would not - speculation only) say how much the refurbishment would cost or how much larger the famed casino would be in the aftermath.
In a very sweet and smart deal, er... agreement, it remunerates the state government $1 a year rent on its Southbank location under a deal which lasts until 2034. Yes, you read correctly folks - $1 per year rent. Pluck a duck... we're paying too much for our Bondi Beach digs.
Casinos spokesman, Gary O'Neill, advised some of the expansion of the gaming floor was linked to the casino's deal with the state government last year to provide an additional 150 gambling tables. Shuffle up and deal with red hot poker, war and more. Cool.
O'Neill said the Southbank refurbishment was "part of our strategy to grow the number of international tourists visiting Crown and Melbourne. Under the terms of the legislation setting up the casino in the first instance, Crown is charged with maintaining a world-class and internationally competitive facility,".
He said the new Atlantic restaurant was expected to open early next year but no date had been set.
Gaming Minister Tony Robinson told reporters last year after the new tables were approved "If people ultimately want to have the boiled-sweets experience of casinos, let them go to Sydney. If they want the rolled-gold, dark chocolate experience, they're going to keep coming to Melbourne, and we're going to ensure that."
Crown executives have now met Department of Planning officials to discuss the master plan and a duplicate copy has been whipped away pronto to the Melbourne City Council for kind consideration.
Anti-gambling campaigner Tim Costello, always up for a quote or wise crack, criticised the casino expansion plans. "Again it proves that 'ministers of the crown' has a particular meaning in Victoria. They (Crown) get whatever they want as the first citizen," he said. Tim, we understand your passion and being a man of God and all, but mate, its getting very long in the tooth. It's about tourism, jobs (and business).
The man of God (we believe too ok) said the expansion failed the "commonsense test" as the community was opposed to more gambling in Victoria? Who said... did you do your own survey?
Gamblers lost $1.2 billion at Crown in the 2008-09 financial year and the state government collected $136 million in taxes. How much gamblers won has proved to be a challenge to find out, even for the Media Man group.
Rebecca Harrison, spokeswoman for the Gaming Minister, went on record with "In December last year there was bipartisan approval so the casino could expand its gaming operations." Nuff said.
Burswood Entertainment Complex: Numbers...
Return On Investment - circa 2013.
450 new jobs in 3 years, some of which earmarked for GenerationOne (an Andrew "Twiggy" Forrest and James "Casino King" Packer and friends initiative).
Mr Barry Felstead, Burswood chief exec advised along with $130 million of capital expenditure already made, Burswood would be investing almost half a billion dollars over a 5-year period.
"The investment will bring significant and sustained benefits to Perth and Western Australia," Mr Felstead told the press.
PartyCasino Offers 10 Packages To Landmark Oktoberfest
PartyCasino Offers 10 Packages To Landmark Oktoberfest
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6th August 2010 – This year marks the 200th Oktoberfest and what promises to be the biggest, best and most memorable edition of one of the world’s biggest parties ever! Palladium VIP’s on PartyCasino.com can secure their place there very simply: be one of the first 10 players to collect 10,000 PartyPoints by playing slots and jackpot slots between 16th and 31st August and they will win a package.
A PartyCasino.com spokesman said: “Once all 10 packages have been claimed the promotion is over, so it is first come first served! The Palladium VIP hospitality at Oktoberfest is already legendary and with the big beer party celebrating its 200th birthday this year promises to be even bigger. PartyCasino.com has the most frequent game launches and largest jackpots in the industry so customers are spoiled for choice for games through which to earn the points needed to secure the trip to Germany’s biggest party.”
The package is from 24th – 26th September and includes:
·Two night’s accommodation, with breakfast, at a five-star hotel in Munich for the winner and a guest.
·Dinner with an open bar followed by a poker tournament in the Davidoff Lounge at the Allianz Arena.
·Activity or Spa treatment.
·Two passes to the Oktoberfest on Saturday night.
·Entry to a VIP party at Pacha nightclub.
·Exclusive VIP hospitality provided by Palladium VIP’s expert events team, on hand and available to you throughout your trip.
Please note that customers have to opt-in to this promotion.
PartyPoker.com also has 35 Oktoberfest prize packages available through a promotion that is running now until the 29th August. See: PartyPoker.com
Palladium VIP’s had a memorable trip to the Oktoberfest last year. See: Palladium Lounge
PartyGaming is regulated and licensed by the Governments of Gibraltar, Italy and France and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counselling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
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6th August 2010 – This year marks the 200th Oktoberfest and what promises to be the biggest, best and most memorable edition of one of the world’s biggest parties ever! Palladium VIP’s on PartyCasino.com can secure their place there very simply: be one of the first 10 players to collect 10,000 PartyPoints by playing slots and jackpot slots between 16th and 31st August and they will win a package.
A PartyCasino.com spokesman said: “Once all 10 packages have been claimed the promotion is over, so it is first come first served! The Palladium VIP hospitality at Oktoberfest is already legendary and with the big beer party celebrating its 200th birthday this year promises to be even bigger. PartyCasino.com has the most frequent game launches and largest jackpots in the industry so customers are spoiled for choice for games through which to earn the points needed to secure the trip to Germany’s biggest party.”
The package is from 24th – 26th September and includes:
·Two night’s accommodation, with breakfast, at a five-star hotel in Munich for the winner and a guest.
·Dinner with an open bar followed by a poker tournament in the Davidoff Lounge at the Allianz Arena.
·Activity or Spa treatment.
·Two passes to the Oktoberfest on Saturday night.
·Entry to a VIP party at Pacha nightclub.
·Exclusive VIP hospitality provided by Palladium VIP’s expert events team, on hand and available to you throughout your trip.
Please note that customers have to opt-in to this promotion.
PartyPoker.com also has 35 Oktoberfest prize packages available through a promotion that is running now until the 29th August. See: PartyPoker.com
Palladium VIP’s had a memorable trip to the Oktoberfest last year. See: Palladium Lounge
PartyGaming is regulated and licensed by the Governments of Gibraltar, Italy and France and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counselling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
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Friday, August 6, 2010
PartyGaming News: Half year report for the six months ended 30 June 2010
PartyGaming News: Half year report for the six months ended 30 June 2010
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Total revenue up 30% to €181.2m (2009: €139.9m) driven by acquisitions and strong growth in casino and sports betting
Continuing Clean EBITDA* up 14% to €48.1m (2009: €42.3m)
Continuing Basic Clean EPS* of 6.0 € cents (2009: 6.7 € cents); Total Basic Clean EPS of 6.0 € cents (2009: 6.6 € cents)
Transformational Proposed Merger with bwin expected to complete in first quarter 2011
Solid progress in newly regulated markets (France and Italy); Denmark is on-track to open early in 2011
Net cashflow from Continuing operations up 65% to €55.3m (2009: €33.5m) with net cash at 30 June 2010 of €146.8m (2009: €166.7m)
* EBITDA/EPS before the provision for costs associated with the Group’s Non-Prosecution Agreement, reorganisation costs, and before non-cash charges relating to share-based payments (see reconciliation of Clean EBITDA to operating profit (loss) below).
# Operations located physically outside of the US but which relate to US customers that were no longer accepted following the enactment of the UIGEA.
Commenting on today’s results announcement, Jim Ryan, PartyGaming Chief Executive Officer, said:
“We delivered another robust financial performance in the first half and also made great progress in executing our strategy. While poker was impacted by the football World Cup and remained difficult from a competitive perspective, our other verticals continued to perform strongly. Total revenue was up 30% and Clean EBITDA from Continuing Operations was up 14% versus the prior year. As previously announced, Clean EBITDA margins in the first half were slightly lower than expected due to the delayed launch of cash game poker in Italy but we retain our previous full year guidance of approximately 28%, subject to the returns achieved on planned marketing spend in both France and Italy where we are continuing to expand the share of our respective poker networks.
‘‘Our proposed merger with bwin is a transformational opportunity for the Group and we expect that it will provide significant strategic, operational and financial benefits for the shareholders of both companies. Whilst there is much work to do ahead of completion in early 2011, we are excited about the prospects for what will then be the clear market leader in online gaming with strong positions in all key product verticals and territories.”
On current trading and outlook Jim Ryan added:
“Since 30 June 2010, the Group has continued to perform in-line with the Board’s expectations. Seizing a strong position in newly regulated markets is a key focus for us. Our strategy of combining a strong B2C franchise with significant local brands is already proving to be a powerful force as evidenced by our network’s position in French poker. As other markets follow Italy and France, we expect that a limited number of large networks and brands will emerge to become market leaders – we are determined that together PartyGaming/bwin will be one of them. This natural consolidation of the marketplace will accelerate through corporate mergers and acquisitions and as one of the largest players in the sector we remain committed to continue playing an active role. Whilst the macroeconomic and competitive environments remain challenging, we remain confident about the Group’s prospects for the rest of the year and beyond.”
Contacts:
PartyGaming Plc +44 (0) 207 337 0100
Peter Reynolds, Director of Corporate Affairs
John Shepherd, Director of Corporate Communications
Interview with Jim Ryan and Martin Weigold
An interview with Jim Ryan, Chief Executive Officer, and Martin Weigold, Group Finance Director, in video/audio and text will be available from 7.00am BST on 6 August 2010 on: http://www.partygaming.com and on http://www.cantos.com.
Analyst meeting, webcast, dial-in and conference call details: 6 August 2010
There will be an analyst meeting for invited UK-based analysts at Numis Securities, The London Stock Exchange Building, 10 Paternoster Square, London, EC4M 7LT starting at 9.30am BST. There will be a simultaneous webcast and dial-in broadcast of the meeting. To register for the live webcast, please pre-register for access by visiting the Group website (www.partygaming.com). Details for the dial-in facility are given below. A copy of the webcast and slide presentation given at the meeting will be available on the Group’s website later today.
Dial-in details to listen to the analyst presentation: 6 August 2010
9.20 am Please call +44 (0) 20 3003 2666
Title PartyGaming Interim Results
9.30 am Meeting starts
A recording of the meeting will be available for a period of seven days from 6 August 2010. To access the recording please dial the following replay telephone number:
Replay telephone number +44 (0) 208 196 1988
Replay passcode: 9050397#
About PartyGaming Plc
The Group is a constituent of the FTSE 250 share index with its shares listed on The London Stock Exchange under the ticker: PRTY. In the year ended 31 December 2009, PartyGaming’s Continuing operations generated revenue of €310.1m and Clean EBITDA of €93.8m.
PartyGaming is regulated and licensed by the Governments of Gibraltar, Italy and France and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counselling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
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Total revenue up 30% to €181.2m (2009: €139.9m) driven by acquisitions and strong growth in casino and sports betting
Continuing Clean EBITDA* up 14% to €48.1m (2009: €42.3m)
Continuing Basic Clean EPS* of 6.0 € cents (2009: 6.7 € cents); Total Basic Clean EPS of 6.0 € cents (2009: 6.6 € cents)
Transformational Proposed Merger with bwin expected to complete in first quarter 2011
Solid progress in newly regulated markets (France and Italy); Denmark is on-track to open early in 2011
Net cashflow from Continuing operations up 65% to €55.3m (2009: €33.5m) with net cash at 30 June 2010 of €146.8m (2009: €166.7m)
* EBITDA/EPS before the provision for costs associated with the Group’s Non-Prosecution Agreement, reorganisation costs, and before non-cash charges relating to share-based payments (see reconciliation of Clean EBITDA to operating profit (loss) below).
# Operations located physically outside of the US but which relate to US customers that were no longer accepted following the enactment of the UIGEA.
Commenting on today’s results announcement, Jim Ryan, PartyGaming Chief Executive Officer, said:
“We delivered another robust financial performance in the first half and also made great progress in executing our strategy. While poker was impacted by the football World Cup and remained difficult from a competitive perspective, our other verticals continued to perform strongly. Total revenue was up 30% and Clean EBITDA from Continuing Operations was up 14% versus the prior year. As previously announced, Clean EBITDA margins in the first half were slightly lower than expected due to the delayed launch of cash game poker in Italy but we retain our previous full year guidance of approximately 28%, subject to the returns achieved on planned marketing spend in both France and Italy where we are continuing to expand the share of our respective poker networks.
‘‘Our proposed merger with bwin is a transformational opportunity for the Group and we expect that it will provide significant strategic, operational and financial benefits for the shareholders of both companies. Whilst there is much work to do ahead of completion in early 2011, we are excited about the prospects for what will then be the clear market leader in online gaming with strong positions in all key product verticals and territories.”
On current trading and outlook Jim Ryan added:
“Since 30 June 2010, the Group has continued to perform in-line with the Board’s expectations. Seizing a strong position in newly regulated markets is a key focus for us. Our strategy of combining a strong B2C franchise with significant local brands is already proving to be a powerful force as evidenced by our network’s position in French poker. As other markets follow Italy and France, we expect that a limited number of large networks and brands will emerge to become market leaders – we are determined that together PartyGaming/bwin will be one of them. This natural consolidation of the marketplace will accelerate through corporate mergers and acquisitions and as one of the largest players in the sector we remain committed to continue playing an active role. Whilst the macroeconomic and competitive environments remain challenging, we remain confident about the Group’s prospects for the rest of the year and beyond.”
Contacts:
PartyGaming Plc +44 (0) 207 337 0100
Peter Reynolds, Director of Corporate Affairs
John Shepherd, Director of Corporate Communications
Interview with Jim Ryan and Martin Weigold
An interview with Jim Ryan, Chief Executive Officer, and Martin Weigold, Group Finance Director, in video/audio and text will be available from 7.00am BST on 6 August 2010 on: http://www.partygaming.com and on http://www.cantos.com.
Analyst meeting, webcast, dial-in and conference call details: 6 August 2010
There will be an analyst meeting for invited UK-based analysts at Numis Securities, The London Stock Exchange Building, 10 Paternoster Square, London, EC4M 7LT starting at 9.30am BST. There will be a simultaneous webcast and dial-in broadcast of the meeting. To register for the live webcast, please pre-register for access by visiting the Group website (www.partygaming.com). Details for the dial-in facility are given below. A copy of the webcast and slide presentation given at the meeting will be available on the Group’s website later today.
Dial-in details to listen to the analyst presentation: 6 August 2010
9.20 am Please call +44 (0) 20 3003 2666
Title PartyGaming Interim Results
9.30 am Meeting starts
A recording of the meeting will be available for a period of seven days from 6 August 2010. To access the recording please dial the following replay telephone number:
Replay telephone number +44 (0) 208 196 1988
Replay passcode: 9050397#
About PartyGaming Plc
The Group is a constituent of the FTSE 250 share index with its shares listed on The London Stock Exchange under the ticker: PRTY. In the year ended 31 December 2009, PartyGaming’s Continuing operations generated revenue of €310.1m and Clean EBITDA of €93.8m.
PartyGaming is regulated and licensed by the Governments of Gibraltar, Italy and France and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counselling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
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Australian Casino Wars: Casualties Upcoming?, by Greg Tingle - 6th August 2010
The famed Australian casino wars continue to evolved with Tabcorp's Star City Casino in 'Sin City' spending an additional $285 million in upgrades including Lear jets, answering James Packer's Crown Limited (Crown Casino and Burswood Entertainment Complex) who are also upgrading with Crown focusing on a full entertainment and lifestyle experience. Star City (Tabcorp) remaining the main players on the giant casino chess board down under. Jupiters on the Gold Coast continues to remain a relative minor player but recently made headlines for its crime rate. Cairns in Northern Queensland still wants to make a major strike into the action with political fun and games a plenty. Expect a rally of missile exchanges from Star City and Crown Casino forecast to play out for months, even over a year, as rumours persist that Packer will eventually buy Star out. Media Man and Gambling911 fire up the rocket launchers and play a serious session of Star Wars and Battle Star Galactica with this special report from the war zone down under...
Crown Limited's Burswood Entertainment Complex Expansion...
Never completely satisfied with his casino interests and portfolio down under and in the greater Asia Pacific region, Australian casino and lifestyle king, James Packer, is investing in his ever growing "war chest", even while sailing the high seas in his Artic P, with both Melbourne based Crown Casino and Perth's Burswood to get major boosts, adding to the giant chess board in the world renown Aussie casino wars.
Crown Casino is in advanced stages of planning a significant redevelopment of the Southbank promenade that will further increase the casino's floor space, including extra gaming areas. Punters, be it whales, dolphins, tuna or other will be pleased.
The strategic chess move is in fact the biggest redevelopment of the promenade since Crown relocated to the banks of the scenic Yarra River in 1997. At least 6 restaurants along Southbank will either be redeveloped or replaced and planter boxes will be replaced by new landscaping along the waterfront.
These moves will bring new life to the promenade, making the casino complex more relaxing, accessible and providing more room for gambling and dining (including drinking).
Fairfax Media advise that revamp plans show a new gambling area above the Lucky Chan restaurant. The Waterfront and Cafe Greco restaurants will be replaced by a giant 300-seat Atlantic seafood restaurant.
The casino has lodged a planning application with the state government called the 'Crown Promenade Masterplan' to rework the Southbank precinct between Spencer St and Queens Bridge St.
The massive project is forecast to take 2 to 3 years to complete, should it get the green light from the state government.
Crown could not (or would not - speculation only) say how much the refurbishment would cost or how much larger the famed casino would be in the aftermath.
In a very sweet and smart deal, er... agreement, it remunerates the state government $1 a year rent on its Southbank location under a deal which lasts until 2034. Yes, you read correctly folks - $1 per year rent. Pluck a duck... we're paying too much for our Bondi Beach digs.
Casinos spokesman, Gary O'Neill, advised some of the expansion of the gaming floor was linked to the casino's deal with the state government last year to provide an additional 150 gambling tables. Shuffle up and deal with red hot poker, war and more. Cool.
O'Neill said the Southbank refurbishment was "part of our strategy to grow the number of international tourists visiting Crown and Melbourne. Under the terms of the legislation setting up the casino in the first instance, Crown is charged with maintaining a world-class and internationally competitive facility,".
He said the new Atlantic restaurant was expected to open early next year but no date had been set.
Gaming Minister Tony Robinson told reporters last year after the new tables were approved "If people ultimately want to have the boiled-sweets experience of casinos, let them go to Sydney. If they want the rolled-gold, dark chocolate experience, they're going to keep coming to Melbourne, and we're going to ensure that."
Crown executives have now met Department of Planning officials to discuss the master plan and a duplicate copy has been whipped away pronto to the Melbourne City Council for kind consideration.
Anti-gambling campaigner Tim Costello, always up for a quote or wise crack, criticised the casino expansion plans. "Again it proves that 'ministers of the crown' has a particular meaning in Victoria. They (Crown) get whatever they want as the first citizen," he said. Tim, we understand your passion and being a man of God and all, but mate, its getting very long in the tooth. It's about tourism, jobs (and business).
The man of God (we believe too ok) said the expansion failed the "commonsense test" as the community was opposed to more gambling in Victoria? Who said... did you do your own survey?
Gamblers lost $1.2 billion at Crown in the 2008-09 financial year and the state government collected $136 million in taxes. How much gamblers won has proved to be a challenge to find out, even for the Media Man group.
Rebecca Harrison, spokeswoman for the Gaming Minister, went on record with "In December last year there was bipartisan approval so the casino could expand its gaming operations." Nuff said.
Star City Casino In Sydney Seeking Whales, VIPs With Upgrades, Lear Jets...
Tabcorp, Australia’s biggest (but less famous than Crown) casino owner, will spend at least $160 million in attempt to woo high-stakes VIP's aka "whales" to Star City in Sydney with new luxury suites, private gambling rooms and its first couple of jet fighters... sorry, planes. No, they are not retired F1 11's from the Australian Air Force.
The plan is to win back big gamblers from rival Crown, and Asian hot spots like Macau and Singapore, Chief Executive Elmer "Fudd" (affectionate) Funke Kupper said in a press interview less than 24 hours ago.
It's all part of a $860 million "facelift" for Star City, Sydney’s first and only (legal) casino, which makes about 50% as Crown’s Melbourne money maker while being in a city 30% larger! What's up doc? Time to shake things up and they are, at a price. Tabcorp has lost market share among high rollers as its domestic rival is investing A$212 million upgrading VIP facilities, including adding its third "fighter" (satire) plane for high rollers - whales, whatever you wish to be addresses as kind sirs.
"It makes sense to go after that segment because it’s so lucrative but it’s going to be very hard to close the gap," advised Theo Maas, who helps manage $5 billion of equities at Arnhem Investment Management in Sydney. "Star City has the potential to do much better."
Tabcorp shares fell 2.2% to A$6.76 yesterday after reporting a 10% drop in annual earnings. The stock has declined 2.7% this year, compared with a 6.2% fall in the benchmark S&P/ASX 200 index. Experts are divided as to when the stock will see a real recovery.
Tabcorp Boss Speaks On Record...
Tabcorp’s full-year financial results demonstrate earnings from its casino division were $260 million - 29% below the past financial year.
Chairman John Story advised gaming markets in Victoria, where Tabcorp owns half the state’s poker machines, and Queensland, where it holds 3 casinos, had declined in the past financial year, "reflecting the economic circumstances".
Media Man should use that fantastic one liner more often.
As the government stimulus money ran out, this decline amplified, he went on.
The company attributed its drop in overall profits to its VIP casino gamblers being "luckier" this year than last. Not more skillful?
In the previous year, the win rate for Tabcorp was above its theoretical level by $25.5 million, while in 2010 the win rate was only $7.7 million below the theoretical level. Online pokie returns to players are frequently about 95%.
Revenue from all activities was unchanged at $4.2 billion, driven by growth in wagering and at Star City. Tabcorp’s expenses were up 2.9%.
Tabcorp is going to battle extra race fields charges in wagering and higher gaming taxes in Queensland casinos. These were offset by a lower effective income tax rate, due to one-off tax credits and the resolution of a long-running dispute with the Australian Taxation Office. Net profit for Tabcorp was $470 million, compared to $522 million last year. The investment at Star City, where renovations are already underway, will include a 3000-seat events centre that overlooks Sydney Harbour. The project will require state government approval. It will also fund two private aircraft to bring VIPs from Asia and improvements to VIP facilities and the like. Ask around town for where the ladies are or rush for the phone book or internet. Tabcorp announced a final dividend of 25 cents. So, in summary, Tabcorp is spending big, has massive expenses, is battling a bad economy, and is betting on a big result. Good luck. That's the casino economy!
Burswood Entertainment Complex: Numbers...
Return On Investment - circa 2013.
450 new jobs in 3 years, some of which earmarked for GenerationOne (an Andrew "Twiggy" Forrest and James "Casino King" Packer and friends initiative).
Mr Barry Felstead, Burswood chief exec advised along with $130 million of capital expenditure already made, Burswood would be investing almost half a billion dollars over a 5-year period.
"The investment will bring significant and sustained benefits to Perth and Western Australia," Mr Felstead told the press.
Mildura Jewel Casino: Victoria Update...
The Mildura casino development proposal is still alive. Developer Mr Haddad met with Premier John Brumby, Nationals leader Peter Ryan and Liberal leader Ted Baillieu on the proposed riverfront based casino and entertainment complex. He advised Mr Brumby was happy to receive letters of in-principle support from Mildura Council and tourism and development boards, however he still requires "bipartisan" support. "It is legislation for a casino, which is something that is a bit more sensitive," he said. "It would be foolish for the Government to come out with some sort of direction if they know that issue is not going to have at least any indication of support. I have to step back and just hope the National Party and the Liberal Party ... have no objection to a second casino being issued in Victoria."
The Late News...
Major Australian and Asia Pacific based media and new media companies continue to ramp up their online and offline coverage of the Australian gaming, igaming, casino and sports betting sector. Major media and non casino players include Fairfax Media, News Limited, NineMSN, Yahoo! and Google (Search, AdWords and other) and of course Media Man, now sporting Media Man Games and Media Man Poker, adding to Global Gaming Directory and Casino News Media.
A Media Man spokesperson said "Many major Australian and Asia Pacific based media companies, agencies and internet giants are continuing to increase their coverage and sometimes involvement in the casino, igaming, poker and sports betting world. From Google (search engine results), NineMSN (articles and multimedia) to News Limited and Fairfax, both carrying in-house sports betting brands, to us who cover the sector in a holistic fashion with news, pr, campaigns, articles, content, multimedia and portal development, its all happening. Many of these companies like us target the world and have a global strategy, marketing and media plan, but the Australian region remains on the radar and is an important part of the master plan. Of course, the internet is a global medium and not restricted to any one part of the world, so it ideally covers coverage of the casino and gaming sector, be it content, journalism, publicity of other. Different brands are also handing out casino and gaming awards and commendations following in the eGaming Review path, like Media Man 'Online Casino Of The Month' Award which PartyGaming's PartyCasino and Richard Branson's Virgin Casino have both won over the years. It's an extremely exciting time to be covering the casino and gaming sector, something our friends at Gambling911, CAP, GPWA and eGaming Review can vouch for. Expect Crown Limited, Tabcorp, Centrebet, PartyGaming and Virgin to make waves, and Media Man and Gambling911 to remain in the thick of the action."
Media Man Profiles
Australian Casinos
http://www.mediamanint.com/profiles/australian_casinos.html
Crown Casino
http://www.mediamanint.com/profiles/crown_casino.html
Burswood Casino
http://www.mediamanint.com/profiles/burswood.html
Star City Casino
http://www.mediamanint.com/profiles/star_city.html
Jupiter's Hotel and Casino, Gold Coast
http://www.mediamanint.com/profiles/jupiters_hotel.html
Aus Vegas
http://www.mediamanint.com/profiles/aus_vegas.html
Mildura Jewel
http://www.mediamanint.com/profiles/mildura_jewel.html
Gaming
http://www.mediamanint.com/profiles/gaming.html
Portals
http://www.mediamanint.com/profiles/portals.html
Google
http://www.mediamanint.com/profiles/google.html
Media Companies
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Folks, we hope you enjoyed this special follow up 'Australian Casino Wars - Casualties Upcoming?' edition. Know something we don't? Tell us in the forum which has been red hot of late. Stay tuned and in the coming days and weeks we will also expand on the coverage with New Zealand and Asia Pacific - Macau land based and online components of the ongoing war, along with special igaming reports which remain important chess pieces in the war zone, as as Yankee property developer friends Donald Trump and Hugh Hefner can vouch for, unlike their foe of sorts Steve Wynn, sticking with land based battles while expanding into the Asia Pacific region. Check or cheque mate? Bombs Away captain.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. Gaming is just one of a bakers dozen of sectors they cover. They also offer political analysis and commentary
*The writer owns shares in Crown Limited and Virgin and has conducted b2b with Crown, PartyGaming, Virgin, Fairfax Media, News Limited and Betfair
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Crown Limited's Burswood Entertainment Complex Expansion...
Never completely satisfied with his casino interests and portfolio down under and in the greater Asia Pacific region, Australian casino and lifestyle king, James Packer, is investing in his ever growing "war chest", even while sailing the high seas in his Artic P, with both Melbourne based Crown Casino and Perth's Burswood to get major boosts, adding to the giant chess board in the world renown Aussie casino wars.
Crown Casino is in advanced stages of planning a significant redevelopment of the Southbank promenade that will further increase the casino's floor space, including extra gaming areas. Punters, be it whales, dolphins, tuna or other will be pleased.
The strategic chess move is in fact the biggest redevelopment of the promenade since Crown relocated to the banks of the scenic Yarra River in 1997. At least 6 restaurants along Southbank will either be redeveloped or replaced and planter boxes will be replaced by new landscaping along the waterfront.
These moves will bring new life to the promenade, making the casino complex more relaxing, accessible and providing more room for gambling and dining (including drinking).
Fairfax Media advise that revamp plans show a new gambling area above the Lucky Chan restaurant. The Waterfront and Cafe Greco restaurants will be replaced by a giant 300-seat Atlantic seafood restaurant.
The casino has lodged a planning application with the state government called the 'Crown Promenade Masterplan' to rework the Southbank precinct between Spencer St and Queens Bridge St.
The massive project is forecast to take 2 to 3 years to complete, should it get the green light from the state government.
Crown could not (or would not - speculation only) say how much the refurbishment would cost or how much larger the famed casino would be in the aftermath.
In a very sweet and smart deal, er... agreement, it remunerates the state government $1 a year rent on its Southbank location under a deal which lasts until 2034. Yes, you read correctly folks - $1 per year rent. Pluck a duck... we're paying too much for our Bondi Beach digs.
Casinos spokesman, Gary O'Neill, advised some of the expansion of the gaming floor was linked to the casino's deal with the state government last year to provide an additional 150 gambling tables. Shuffle up and deal with red hot poker, war and more. Cool.
O'Neill said the Southbank refurbishment was "part of our strategy to grow the number of international tourists visiting Crown and Melbourne. Under the terms of the legislation setting up the casino in the first instance, Crown is charged with maintaining a world-class and internationally competitive facility,".
He said the new Atlantic restaurant was expected to open early next year but no date had been set.
Gaming Minister Tony Robinson told reporters last year after the new tables were approved "If people ultimately want to have the boiled-sweets experience of casinos, let them go to Sydney. If they want the rolled-gold, dark chocolate experience, they're going to keep coming to Melbourne, and we're going to ensure that."
Crown executives have now met Department of Planning officials to discuss the master plan and a duplicate copy has been whipped away pronto to the Melbourne City Council for kind consideration.
Anti-gambling campaigner Tim Costello, always up for a quote or wise crack, criticised the casino expansion plans. "Again it proves that 'ministers of the crown' has a particular meaning in Victoria. They (Crown) get whatever they want as the first citizen," he said. Tim, we understand your passion and being a man of God and all, but mate, its getting very long in the tooth. It's about tourism, jobs (and business).
The man of God (we believe too ok) said the expansion failed the "commonsense test" as the community was opposed to more gambling in Victoria? Who said... did you do your own survey?
Gamblers lost $1.2 billion at Crown in the 2008-09 financial year and the state government collected $136 million in taxes. How much gamblers won has proved to be a challenge to find out, even for the Media Man group.
Rebecca Harrison, spokeswoman for the Gaming Minister, went on record with "In December last year there was bipartisan approval so the casino could expand its gaming operations." Nuff said.
Star City Casino In Sydney Seeking Whales, VIPs With Upgrades, Lear Jets...
Tabcorp, Australia’s biggest (but less famous than Crown) casino owner, will spend at least $160 million in attempt to woo high-stakes VIP's aka "whales" to Star City in Sydney with new luxury suites, private gambling rooms and its first couple of jet fighters... sorry, planes. No, they are not retired F1 11's from the Australian Air Force.
The plan is to win back big gamblers from rival Crown, and Asian hot spots like Macau and Singapore, Chief Executive Elmer "Fudd" (affectionate) Funke Kupper said in a press interview less than 24 hours ago.
It's all part of a $860 million "facelift" for Star City, Sydney’s first and only (legal) casino, which makes about 50% as Crown’s Melbourne money maker while being in a city 30% larger! What's up doc? Time to shake things up and they are, at a price. Tabcorp has lost market share among high rollers as its domestic rival is investing A$212 million upgrading VIP facilities, including adding its third "fighter" (satire) plane for high rollers - whales, whatever you wish to be addresses as kind sirs.
"It makes sense to go after that segment because it’s so lucrative but it’s going to be very hard to close the gap," advised Theo Maas, who helps manage $5 billion of equities at Arnhem Investment Management in Sydney. "Star City has the potential to do much better."
Tabcorp shares fell 2.2% to A$6.76 yesterday after reporting a 10% drop in annual earnings. The stock has declined 2.7% this year, compared with a 6.2% fall in the benchmark S&P/ASX 200 index. Experts are divided as to when the stock will see a real recovery.
Tabcorp Boss Speaks On Record...
Tabcorp’s full-year financial results demonstrate earnings from its casino division were $260 million - 29% below the past financial year.
Chairman John Story advised gaming markets in Victoria, where Tabcorp owns half the state’s poker machines, and Queensland, where it holds 3 casinos, had declined in the past financial year, "reflecting the economic circumstances".
Media Man should use that fantastic one liner more often.
As the government stimulus money ran out, this decline amplified, he went on.
The company attributed its drop in overall profits to its VIP casino gamblers being "luckier" this year than last. Not more skillful?
In the previous year, the win rate for Tabcorp was above its theoretical level by $25.5 million, while in 2010 the win rate was only $7.7 million below the theoretical level. Online pokie returns to players are frequently about 95%.
Revenue from all activities was unchanged at $4.2 billion, driven by growth in wagering and at Star City. Tabcorp’s expenses were up 2.9%.
Tabcorp is going to battle extra race fields charges in wagering and higher gaming taxes in Queensland casinos. These were offset by a lower effective income tax rate, due to one-off tax credits and the resolution of a long-running dispute with the Australian Taxation Office. Net profit for Tabcorp was $470 million, compared to $522 million last year. The investment at Star City, where renovations are already underway, will include a 3000-seat events centre that overlooks Sydney Harbour. The project will require state government approval. It will also fund two private aircraft to bring VIPs from Asia and improvements to VIP facilities and the like. Ask around town for where the ladies are or rush for the phone book or internet. Tabcorp announced a final dividend of 25 cents. So, in summary, Tabcorp is spending big, has massive expenses, is battling a bad economy, and is betting on a big result. Good luck. That's the casino economy!
Burswood Entertainment Complex: Numbers...
Return On Investment - circa 2013.
450 new jobs in 3 years, some of which earmarked for GenerationOne (an Andrew "Twiggy" Forrest and James "Casino King" Packer and friends initiative).
Mr Barry Felstead, Burswood chief exec advised along with $130 million of capital expenditure already made, Burswood would be investing almost half a billion dollars over a 5-year period.
"The investment will bring significant and sustained benefits to Perth and Western Australia," Mr Felstead told the press.
Mildura Jewel Casino: Victoria Update...
The Mildura casino development proposal is still alive. Developer Mr Haddad met with Premier John Brumby, Nationals leader Peter Ryan and Liberal leader Ted Baillieu on the proposed riverfront based casino and entertainment complex. He advised Mr Brumby was happy to receive letters of in-principle support from Mildura Council and tourism and development boards, however he still requires "bipartisan" support. "It is legislation for a casino, which is something that is a bit more sensitive," he said. "It would be foolish for the Government to come out with some sort of direction if they know that issue is not going to have at least any indication of support. I have to step back and just hope the National Party and the Liberal Party ... have no objection to a second casino being issued in Victoria."
The Late News...
Major Australian and Asia Pacific based media and new media companies continue to ramp up their online and offline coverage of the Australian gaming, igaming, casino and sports betting sector. Major media and non casino players include Fairfax Media, News Limited, NineMSN, Yahoo! and Google (Search, AdWords and other) and of course Media Man, now sporting Media Man Games and Media Man Poker, adding to Global Gaming Directory and Casino News Media.
A Media Man spokesperson said "Many major Australian and Asia Pacific based media companies, agencies and internet giants are continuing to increase their coverage and sometimes involvement in the casino, igaming, poker and sports betting world. From Google (search engine results), NineMSN (articles and multimedia) to News Limited and Fairfax, both carrying in-house sports betting brands, to us who cover the sector in a holistic fashion with news, pr, campaigns, articles, content, multimedia and portal development, its all happening. Many of these companies like us target the world and have a global strategy, marketing and media plan, but the Australian region remains on the radar and is an important part of the master plan. Of course, the internet is a global medium and not restricted to any one part of the world, so it ideally covers coverage of the casino and gaming sector, be it content, journalism, publicity of other. Different brands are also handing out casino and gaming awards and commendations following in the eGaming Review path, like Media Man 'Online Casino Of The Month' Award which PartyGaming's PartyCasino and Richard Branson's Virgin Casino have both won over the years. It's an extremely exciting time to be covering the casino and gaming sector, something our friends at Gambling911, CAP, GPWA and eGaming Review can vouch for. Expect Crown Limited, Tabcorp, Centrebet, PartyGaming and Virgin to make waves, and Media Man and Gambling911 to remain in the thick of the action."
Media Man Profiles
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http://www.mediamanint.com/profiles/australian_casinos.html
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http://www.mediamanint.com/profiles/crown_casino.html
Burswood Casino
http://www.mediamanint.com/profiles/burswood.html
Star City Casino
http://www.mediamanint.com/profiles/star_city.html
Jupiter's Hotel and Casino, Gold Coast
http://www.mediamanint.com/profiles/jupiters_hotel.html
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Media Companies
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Folks, we hope you enjoyed this special follow up 'Australian Casino Wars - Casualties Upcoming?' edition. Know something we don't? Tell us in the forum which has been red hot of late. Stay tuned and in the coming days and weeks we will also expand on the coverage with New Zealand and Asia Pacific - Macau land based and online components of the ongoing war, along with special igaming reports which remain important chess pieces in the war zone, as as Yankee property developer friends Donald Trump and Hugh Hefner can vouch for, unlike their foe of sorts Steve Wynn, sticking with land based battles while expanding into the Asia Pacific region. Check or cheque mate? Bombs Away captain.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. Gaming is just one of a bakers dozen of sectors they cover. They also offer political analysis and commentary
*The writer owns shares in Crown Limited and Virgin and has conducted b2b with Crown, PartyGaming, Virgin, Fairfax Media, News Limited and Betfair
Website Network
Media Man International
Media Man
Media Man Australia
Media Man Asia
Media Man Canada
Media Man Games
Media Man Casino
Media Man Poker
Casino News Media
Casino Travel Media
Global Gaming Directory
Australian Sports Entertainment
Thursday, August 5, 2010
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