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Work will soon begin on a new 71-story hotel and casino complex in Sydney, after Australian mogul James Packer won approval for the building from NSW’s Planning Assessment Commission (PAC). This was the final planning process hurdle for Packer, who won the rights to build the Crown Resorts complex after a bidding war with The Star Casino in 2012, and …
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Crown Resorts looks to split domestic & international assets
Seeking to soften the blow of its underperforming Macau division, Australian casino operator Crown Resorts Ltd is reported to be seeking to spilt its domestic and international business assets. The casino and leisure operator, which is majority owned by Australian property tycoon James Packer (53% equity) stated that it was considering demerging its domestic division by creating a new ‘listed …
Read More »NSW watchdog investigates Crownbet customer promotions
Australian online sports betting operator CrownBet is under investigation by the New South Wales (NSW) gaming watchdog, regarding the use of customer credit as a promotion to incentivize gambling. Promotion of customer credit, vouchers or sign up rewards are prohibited by NSW regulations. The watchdog is said to be investigating CrownBet NRL and AFL campaign “The Game Just Changed”. The …
Read More »Crown Resorts enters Social Gambling space with $27.5 million DGN Games acquisition
Australian gambling and leisure operator Crown Resorts has announced that it has acquired a 60% stake in Austin (Texas) based social gambling/games developer DGN Games LLC for a sum of US $27.5 million (£17.5 million). Crown Resorts becomes the latest land based operator to invest in the Social gambling sector, following last year’s $885 million (£560 million) acquisition of Big …
Read More »Packer steps down as Chairman of Crown Resorts
Following numerous quarters of consecutive performance declines, billionaire James Packer has confirmed that he will step down as Crown Resorts Executive Chairman. As majority shareholder in the business, Packer will be transferred to a senior executive placement within the casino operator’s governance. Packer will further maintain his Co-Chairman position of subsidiary Melco Crown Entertainment Asia. Packer will be replaced as …
Read More »On a Tripp! James Packer’s Crown Resort secures control of BetEasy
Australian billionaire James Packer has secured control of new betting operator BetEasy through his Crown Resorts leisure enterprise. Crown Resorts released a statement this morning confirming the tie-up between the two parties, which will see Crown Resorts own two thirds of the BetEasy enterprise. Crown Resorts controlling investment in BetEasy is set to give the leisure operator quick access into …
Read More »Betfair focuses on B2B partnerships for smaller market entry
Breon Corcoran, Chief Executive of Betfair, has outlined that the operator will look to enter smaller international markets through strategic B2B partnerships. Betfair senior management will integrate the strategy following its August 2014 B2B model switch for the Australian sports betting market. Betfair had sold its Australasia betting exchange to casino and leisure operator Crown Resorts Limited. Speaking to EGR …
Read More »Crown Resorts looks to purchase remaining stake in Betfair Australia joint venture
Australian news sources have speculated that Crown Resorts is set to acquire the remaining 50% stake of its joint venture with sports betting exchange Betfair for control of Betfair Australia . The casino operator will buy out Betfairs stake in Betfair Australia, a joint funded venture between both parties which launched in August 206, under the licence of the Tasmanian …
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