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9stacks Gets Ready to Fly 100 Indian Poker Players to Australia During the Aussie Millions, 2019

George Miller

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9stacks Gets Ready to Fly 100 Indian Poker Players to Australia During the Aussie Millions, 2019
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In July, India’s fastest-growing online poker company, 9stacks took the largest ever contingent of Indian poker players to the World Series of Poker in Las Vegas. Of the 25 players who went there, most were first timers, including professional poker players, Nishant Sharma and Vivek Rughani, who became the first Indians ever to finish in the top 100 of the Main Event at the WSOP.

Now, 9stacks is preparing to up the game even further, by taking 100 Indian poker players to Melbourne, Australia to play during the prestigious Aussie Millions poker tournament. The tournament will happen in late Jan to Feb, 2019, and all 100 invitees to #9stacksTeamIndia will be announced by mid-December.

The selection for the 9stacks Team India is already underway, and the first set of 15 poker players has already been announced. This includes Chandni Malik (who goes by the name ‘maidumji’) who is the first woman member of the team. Interestingly, Chandni started her poker journey on 9stacks last year, and in less than a year she has improved her game to a level where she regularly finishes ‘in the money’ in online tournaments and gives the most seasoned poker professionals a run for their money.

“At 9stacks, our aim has always been to come up with the most rewarding and innovative, yet extremely do-able tournament formats and contests. We want to encourage amateur poker players with a desire to play and get exposed to some of the biggest, most premium poker tournaments and platforms in the world. After #LFGVegas made the WSOP dreams of 25 Indian poker players come true and made stars out of Nishant Sharma and Vivek Rughani, we hope that at least one person from the #Aussie100 will go even better and win the main event there,” says Sudhir Kamath, CEO, 9stacks

 

About 9stacks:

Launched last year, 9stacks has a user base of 1 lakh+ subscribers. More than 30 lakh hands of poker are being played every month on the platform, with monthly gross transactions exceeding INR 35 cr per month.

As a member of the All India Gaming Federation, 9stacks has also been a strong voice advocating poker as a game of skill. On its own platform, 9stacks recently launched India’s first skills dashboard where gamers can carry out in depth analyses of their own strategy, and become better players.

9stacks users can play seamlessly across all platforms including iOS, Android, Windows and Macs.

Australia

Australia’s ACMA Moves to Block 10 More Illegal Gambling Websites

Niji Narayan

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Australia’s ACMA Moves to Block 10 More Illegal Gambling Websites
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The Australian Communications and Media Authority (ACMA) is set to request Australian internet service providers (ISPs) to block 10 more illegal offshore gambling websites.

The sites to be blocked are Grand Fortune Casino, Raging Bull Casino, True Blue Casino, Free Spin, Two Up Casino, BoVegas, Cherry Gold Casino, Slots Empire, Red Dog Casino and Wild Joker.

ACMA received over 30 complaints about these services that are accessible in Australia. ACMA’s investigations found that these sites breach the Interactive Gambling Act 2001.

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Australia

Aristocrat Prices New US$500 Million Term Loan B Facility

Niji Narayan

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Aristocrat Prices New US$500 Million Term Loan B Facility
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Aristocrat Leisure has priced a new US$500 million term loan to strengthen the group’s liquidity and balance sheet.

Aristocrat said the proceeds of the loan will be used for general corporate purposes and was strongly supported by existing and new investors. The maturity date of the loan is October 2024.

“We are very pleased with the outcome of this debt raising which was significantly oversubscribed. The TLB market continues to provide Aristocrat with flexibility and competitively priced debt on a covenant light basis and we are grateful for the ongoing support of this important debt market,” Julie Cameron-Doe, CFO of Aristocrat, said.

“The transaction is part of our ongoing strategy to further enhance our liquidity, continue to invest for growth and position the group to emerge strongly from the current COVID-19 related challenges,” Julie Cameron-Doe added.

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Australia

Blackstone Group Buys 9.99% Stake in Crown Resorts

Niji Narayan

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Blackstone Group Buys 9.99% Stake in Crown Resorts
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Melco Resorts and Entertainment has sold its 9.99% stake in Australia’s Crown Resorts Ltd to Blackstone Group, the US-based investment company. Blackstone purchased a total of 67,675,000 shares at a price of US$5.32 per share.

The sale of Melco’s 9.99% stake, acquired from James Packer’s CPH Crown Holdings Pty Limited last June, comes in the midst of a public inquiry into the acquisition by the NSW Independent Liquor & Gaming Authority, currently postponed due to COVID-19.

The inquiry, launched last August and running since January, had been looking into a range of issues surrounding the transaction, including whether Crown remains a suitable person to retain its restricted gaming license for its AU$2.2 billion Crown Sydney development, due to open in 2021, and whether the disposal of shares to Melco Resorts constitutes a breach of the license or any other regulatory agreement.

Melco originally acquired the 67,675,000 shares last year at a price of US$8.49 per share.

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