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The Star Gold Coast to recoup debt from the high roller

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The Star Gold Coast to recoup debt from the high roller
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The Star Gold Coast, a casino in the the Gold Coast in Queensland, Australia, is chasing a $43 million debt from a Singapore-based high roller named Wong Yew Choy. The customer has allegedly gone out of the country and cancelled a blank cheque which he had given casino bosses as collateral.

Wong Yew Choy jetted into the Gold Coast in late July last year and spent five days playing baccarat at the recently revamped casino at Broadbeach.

Wong losses the equivalent of $8.6 million for each day he spent on the Gold Coast.

The Star has now launched legal action in the Singapore High Court.

“We are pursuing the debt vigorously. The Star is disappointed the situation involving Wong Yew Choy has forced us to escalate the matter to the Singapore High Court” a casino spokesperson said.

Mr Wong is arguing casino staff made “errors,” which included a dealer exposing the gambler’s cards when he wanted to reveal them himself.

A letter was sent to Mr Wong by Star after he complained about the series of “errors.”

It apologised for not following Mr Wong’s gaming preferences.

“This mistake, and the others you have experienced during your visit, have had no direct financial impact to you as, where necessary, appropriate compensation was provided at the time,” the letter said.

The letter made no mention of waiving Mr Wong’s $43 million debt.

The Star Gold Coast said it is confident it will recoup the debt from the high roller.

“We would not be wasting the court’s time unless we felt our position was extremely robust,” the spokesperson said.

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Australia

ACMA Blocks More Illegal Offshore Gambling Websites

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The Australian Communications and Media Authority (ACMA) has requested that Australian internet service providers (ISPs) to block more illegal offshore gambling websites, after investigations found these services to be operating in breach of the Interactive Gambling Act 2001.

The latest sites blocked include A Big Candy, Jackpoty and John Vegas Casino.

Website blocking is one of a range of enforcement options to protect Australians against illegal online gambling. Since the ACMA made its first blocking request in November 2019, 995 illegal gambling and affiliate websites have been blocked.

Over 220 illegal services have also pulled out of the Australian market since the ACMA started enforcing new illegal offshore gambling rules in 2017.

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Australia

Tabcorp Appoints Gillon McLachlan as MD & CEO

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Australian gambling services firm Tabcorp Holdings has appointed former Australian Football League (AFL) boss Gillon McLachlan as its chief executive and managing director.

The appointment comes months after former chief Adam Rytenskild resigned over allegedly using “offensive” and “inappropriate” language at the workplace and as the firm navigates a strategic transformation amid heightened competition pressures.

McLachlan was the AFL chief executive for a decade during which he contributed to significant revenue growth and oversaw its expansion.

He will join Tabcorp on Aug. 5 and assume the roles of CEO and MD upon receiving regulatory approvals, the company said. He will receive an annual fixed remuneration of AU$ 1.5 million.

“In the two years since demerger, we have significantly improved our customer offering and delivered key structural reforms in Queensland and Victoria,” Tabcorp Executive Chairman Bruce Akhurst said.

“Gill brings an added dimension of having been responsible for some of the most significant media rights deals in Australian sports history and we’re excited about the potential growth opportunities for our wagering and media business under his leadership,” Bruce Akhurst added.

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Australia

BetMakers Appoints Carl Henschke as its New Chief Financial Officer

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BetMakers Technology Group Ltd, the leading global B2B provider of technologies and services that simplify betting at critical points in wagering, announced the appointment of Mr Carl Henschke as its Chief Financial Officer (CFO), effective 1 July 2024.

Mr Henschke brings over 17 years of experience in financial services, capital markets and legal sectors to BetMakers. He began his career as a solicitor in the corporate team at Herbert Smith Freehills, and for the past decade, he has worked as an investment banker. Most recently he served as Managing Director at Canaccord Genuity, focusing on software and digital businesses, including those in the wagering and betting sector. Mr Henschke’s expertise encompasses financial planning and analysis, strategy, capital management and M&A.

BetMakers CEO Jake Henson said: “We are delighted to welcome Carl as the company’s new CFO. His extensive financial expertise and deep understanding of high growth technology companies make him an ideal fit for BetMakers. Carl’s experience will be important as we continue to refine our operational efficiencies, expand our global presence, and enhance shareholder value.”

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