Australia
Star Entertainment Submits Proposal to Merge with Crown Resorts
Australia’s Star Entertainment Group has submitted a conditional, non-binding, indicative proposal to merge with Crown Resorts.
According to details released via the ASX, the proposal values Crown’s shares in excess of AU$14 per share – exceeding the value put forward by competing bids in recent weeks which value Crown at closer to AU$12 per share.
Those competing bids include a revised offer from American multinational private equity and hedge fund giant The Blackstone Group, received over the weekend, which increases its bid from an original AU$11.85 per share to AU$12.35 per share.
US global asset management firm Oaktree Capital Management L.P. has also proposed a AU$3 billion offer to acquire the 37% stake in Crown currently held by James Packer’s Consolidated Press Holdings.
However, Star has outlined its case for a merger, with the offer representing a share exchange ratio of 2.68 The Star shares per Crown share with a cash alternative of AU$12.50 per Crown share for up to 25% of Crown’s issued share capital.
“Based on recent trading values of The Star and the substantial value that would be unlocked by a merger, The Star estimates its pro forma share price to be more than AU$5 per share, implying potential value of the Scrip Consideration in excess of AU$14 per Crown share,” it said.
The Star said it believes a merger represents a “compelling value proposition for all shareholders by creating a national tourism and entertainment leader with a world-class portfolio of integrated resorts with enhanced scale and geographic earnings diversification, significant balance sheet strength and free cash flow generation.”
It would also allow for AU$150 million to AU$200 million in cost synergies per annum with an estimated net value of AU$2 billion.
“A merger of The Star and Crown would result in significant scale and diversification and unlock an estimated AU$2 billion in net value from synergies,” Star Chairman John O’Neill said.
“With a portfolio of world-class properties across four states in Australia’s most attractive and populated catchment areas and tourism hubs, the combined group would be a compelling investment proposition and one of the largest and most attractive integrated resort operators in the Asia Pacific region.”
According to Star, a merger would also open the door for potential sale and leaseback opportunities on some of the group’s enhanced property portfolio – leaving the door open for the likes of Blackstone and Oaktree to acquire assets in the future.
Crown said it has not yet formed a view on the merits of the proposal and will commence an assessment process on its merits.
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Australia
Regulating the Game Adds Session “Industry Collaborations in Research” to Provide Guidance for Best Practices
Gambling law and regulation conference Regulating the Game announced an insightful session titled “Industry Collaborations in Research,” presented by Tracy Schrans, President of Focal Research Consultants.
This session will delve into findings from Focal Research’s groundbreaking collaboration with the University of Nevada, Las Vegas International Gaming Institute, addressing the critical question: Is there a right time to interact with players during a continuous play session?
The presentation will feature:
• An in-depth analysis of real-world behavioural tracking data.
• Insights into who is more likely to engage in extended play sessions and why.
• Practical implications for safer gambling practices, including identifying optimal times for player interactions to prevent and minimise harm.
“While the findings challenge traditional assumptions about continuous play and risk, they provide invaluable guidance for shaping best practices around player interactions,” the organsers said.
Tracy Schrans, alongside Dr. Tony Schellinck, pioneered the use of player-tracking data to develop algorithms for detecting and managing customer risk and harm. As President of Focal Research Consultants, she leads innovative research and collaborates with global stakeholders to set new standards for responsible gambling. Her work has received international acclaim for leveraging data and technology to identify at-risk gamblers and implement harm mitigation strategies effectively.
“Through research-driven insights, we can redefine when and how to engage with players in ways that prioritize their safety and well-being. This session highlights the power of collaboration between industry and academia to advance responsible gambling practices,” said Tracy Schrans.
Attendees will gain actionable insights into how cutting-edge research can drive more effective gambling harm prevention strategies. “This session is a must for industry leaders, regulators, and stakeholders seeking to enhance their understanding of player behavior and develop evidence-based solutions,” organisers said.
Regulating the Game is a flagship event, that brings together global leaders, regulators and industry professionals to tackle public policy and regulatory challenges. The conference fosters meaningful dialogue and innovation to support efficient and effective gambling regulation. The conference will be held at the Sofitel Sydney Darling Harbour from March 10–13, 2025.
The post Regulating the Game Adds Session “Industry Collaborations in Research” to Provide Guidance for Best Practices appeared first on European Gaming Industry News.
Australia
NSW: Minns Government Moves to Ban Gambling Advertising from Trains
The Minns Government has moved to ban gambling advertising on public transport in NSW.
The prohibition applies to Transport owned and controlled assets, including internal and external advertising on trains, metro, buses, light rail, train stations and ferry terminals.
Transport operates one of the largest portfolios of advertising assets across Australia. This includes 798 advertising boards at Sydney train stations, 49 road facing digital billboards, adverts on up to 3711 urban buses, 76 trams and across the Tangara train fleet.
The ban extends to all casino, lottery and online betting advertising.
The NSW Government will now work with multiple advertising contract holders to implement the required changes over the next 12 months.
Transport’s advertising suppliers must ensure that all advertising material complies with all applicable laws, accepted industry standards and codes of conduct established by the advertising industry for example, the Australian Association of National Advertisers (AANA) Advertiser Code of Ethics and AANA Code of Ethics Practice Note.
There are also additional rules that apply to Transport’s contract holders. These include a ban on political advertising on all assets, which applies equally to all political parties.
Where assets are not owned by Transport (e.g. bus stops, retail outlets or nearby private property), the NSW Government will work with the relevant entitles to see how their advertising can align with the gambling advertising ban.
This is the latest in a suite of reforms introduced by the Minns Labor Government to reduce gambling harm. The reforms include:
• reducing the statewide gaming machine entitlement cap in June 2023
• banning political donations from clubs with electronic gaming machines on 1 July 2023
• reducing the cash input limit on new gaming machines from $5000 to $500 on 1 July 2023
• banning all external gambling signage in venues on 1 September 2023
• banning the placement of any signage or advertising relating to gaming machines either on, or visible from an ATM or EFTPOS terminal with cash withdrawal facilities and introduced Responsible Gambling Officers for venues with more than 20 machine entitlements, on 1 July 2024
• requiring Automatic Teller Machines (ATMs) or EFTPOS terminals that allow cash withdrawals to be placed at least 5m from the entry to a gaming room and not be visible from any machine or entry to a gaming room, from 1 January 2025
• established an Independent Panel to conduct a trial of cashless gaming in pubs and clubs throughout 2024
• committing $100 million to harm minimisation – investing in research, treatment, services and reform.
Minister for Transport Jo Haylen said: “Gambling advertising has been a common sight on our public transport for a couple of years now, and I’m pleased our Government is taking action to remove it. Parents are rightly worried about the impact it has on their kids, so its not something that we think that needs to be on our transport network.
“With over 3500 buses, close to 800 advertising assets at train stations, as well as advertising on light rail and trains, Transport’s advertising contracts are vast. Because of the scale it will take some time to implement this change, but we will be working closely with our contract partners over the next 12 months to get this done.”
Minister for Gaming and Racing David Harris said: “Removing gambling advertising from public transport is another demonstration of the Minns Labor Government’s commitment to reducing gambling harm in NSW.
“This move will reduce the public’s exposure to gambling advertising and builds on the suite of reforms the government has introduced over the past 20 months to reduce harmful impacts of gambling.”
The post NSW: Minns Government Moves to Ban Gambling Advertising from Trains appeared first on European Gaming Industry News.
Australia
VGCCC: Bookmaker Fined for Customer Safety Breaches
Registered online bookmaker VicBet has been fined $130,000 for 2 breaches of its customer care obligations.
Announcing the fine, Victorian Gambling and Casino Control Commission (VGCCC) CEO Annette Kimmitt AM reminded the gambling industry of the potential for people to experience severe harm when rules are not followed.
“Breaches can have serious consequences, not only in terms of punitive actions against the companies we catch out, but for people whose lives are affected by this behaviour,” Ms Kimmitt said.
“It is an egregious betrayal of trust, for example, to continue to send marketing materials to a person who has self-excluded from a gambling venue or closed a betting account.”
The VGCCC’s investigations into complaints about VicBet found the bookmaker had:
• offered and provided a $1,800 bonus bet to a customer after they asked for their betting account to be closed in September 2022. VicBet was fined $50,000.
• repeatedly sent gambling promotional material to a customer after they permanently self-excluded from VicBet in March 2020. The penalty was an $80,000 fine.
It is an offence for a bookmaker to encourage or offer any credit, voucher or reward, or other benefit to induce an account holder to keep an account open after they have requested its closure.
Similarly, sending correspondence or promotional material to customers who have self-excluded contravenes the Victorian Bookmakers’ Association Code of Conduct.
“On these occasions, VicBet failed to live up to both its legal and social licences to operate, which include minimising the risk of harm to customers,” Ms Kimmitt said.
“Industry must respect the wishes of people who decide to have a break from, or quit, gambling. This means taking all reasonable steps to enforce harm prevention initiatives that customers commit themselves to, such as self-exclusion programs.”
VicBet was given the opportunity to “show cause” as to why disciplinary action should not be taken. Submissions from its legal representative were considered prior to a determination being made.
The post VGCCC: Bookmaker Fined for Customer Safety Breaches appeared first on European Gaming Industry News.
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