Australia

Tabcorp to donate more than $1.5 million to bushfire relief

Published

4 months ago

January 14, 2020

Tabcorp to donate more than $1.5 million to bushfire relief

Reading Time: 2 minutes

Tabcorp has announced that it will donate more than $1.5 million to bushfire recovery on behalf of its brands TAB, Sky Racing, the Lott, MAX and Keno.

All of Tabcorp’s proceeds from the regular Saturday Lotto draw on 25 January will be donated to the bushfire relief effort, which is expected to be in excess of $1.5 million. The draw will be known as the Bushfire Benefit Draw.

“We offer our deepest sympathies to the many Australians that have lost loved ones, homes or their livelihood during this national crisis,” said Tabcorp CEO David Attenborough.

“The Australian spirit has been truly inspirational throughout this ordeal and the Tabcorp Group is pleased to play its part in supporting the recovery effort.”

Tabcorp has also provided financial relief to hotels and clubs that have been directly impacted by bushfires and relief operations.

This comes in addition to the $100,000 donation made by Tabcorp’s Keno brand to assist Team Rubicon in late 2019 in their efforts to clean and rebuild bushfire affected communities, particularly those who have lost property in Northern New South Wales.

Tabcorp is also dollar matching donations made to bushfire relief charities by its 5,000 employees, as well as amending its existing volunteering policy to provide open-ended paid leave for volunteer firefighters and reservists throughout this time.

“Many of our own people have been deeply impacted by these bushfires. We have partners in pubs, clubs, newsagents and retail outlets across New South Wales, Victoria, Queensland and South Australia that have been devastated and we’re committed to providing as much support as we can during this difficult time,” Mr Attenborough said.

Tickets in the Saturday Lotto Bushfire Benefit Draw, Saturday Lotto draw 4019 on Saturday 25 January 2020, are available at the Lott outlets across Australia (excluding Western Australia), online at thelott.com or via the Lott app.

Australia

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

Published

4 days ago

May 21, 2020

Niji Narayan

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

Reading Time: < 1 minute

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.

Australia

Aristocrat Prices New US$500 Million Term Loan B Facility

Published

6 days ago

May 19, 2020

Niji Narayan

Aristocrat Prices New US$500 Million Term Loan B Facility

Reading Time: < 1 minute

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.

Australia

Blackstone Group Buys 9.99% Stake in Crown Resorts

Published

4 weeks ago

April 30, 2020

Niji Narayan

Blackstone Group Buys 9.99% Stake in Crown Resorts

Reading Time: < 1 minute

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.