Australia
Tabcorp Extends Digital Vision Supply Agreement with Sportsbet
Tabcorp Holdings Limited (Tabcorp) has extended a digital vision supply agreement with Sportsbet by a further 10 years until 31 July 2036.
The extension of the existing agreement allows Sportsbet to broadcast Sky Racing 1 and Sky Racing 2 vision live in their betting App and website, with Sky as the exclusive provider.
The terms of the extended agreement are broadly similar to the existing arrangements including a link to Sportsbet turnover. It is expected the agreement will generate between $30m-$40m EBITDA in FY24.
Tabcorp Managing Director and Chief Executive Officer Adam Rytenskild said: “Sky is the home of Racing, with more racing punter eyeballs than any other channel and is the major driver of Racing wagering in Australia.
“With more than 150,000 races broadcast live around the world every year and the best team in Racing, the extension of this agreement recognises Sky as one of the best and most valuable racing networks in the world.
“It’s also great news for Racing Clubs who will have more eyes on their meetings than ever before.
“The agreement extends our most significant digital rights revenue stream to 2036. Tabcorp is continuing to build mometum towards TAB25 with a new App, new products and faster speed to market as part of our transformation.”
Australia
AUSTRAC and SkyCity agree to proposed $67 million penalty
SkyCity Adelaide Pty Ltd (SkyCity) and AUSTRAC have filed joint submissions with the Federal Court of Australia, proposing a $67 million penalty over the casino’s contravention of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
A court hearing has been set down for 7 June 2024, at which Justice Lee will consider the parties’ proposed settlement.
While AUSTRAC and SkyCity agree that a $67 million penalty is appropriate in all the circumstances, it is a matter for the court to determine the appropriate penalty.
In reaching this agreement, SkyCity has admitted that it operated in contravention of the AML/CTF Act, including that:
- its AML/CTF Programs did not meet the requirements of the AML/CTF Act and AML/CTF Rules, in contravention of section 81.
- it did not carry out appropriate ongoing customer due diligence with respect to certain higher risk customers and customers transacting through higher risk channels, in contravention of section 36.
“AUSTRAC took this action out of concern that SkyCity’s conduct meant that a range of high-risk practices, behaviours and customer relationships were allowed to continue unchecked for many years,” AUSTRAC’s Chief Executive Officer, Brendan Thomas said.
Mr Thomas said the action serves as an important reminder to casinos and the gaming sector to take their AML/CTF obligations seriously and be vigilant to money laundering and terrorism financing risks.
As the matter is before the court for determination, AUSTRAC is unable to comment further on the proceedings.
The post AUSTRAC and SkyCity agree to proposed $67 million penalty appeared first on European Gaming Industry News.
Australia
Nerida O’Loughlin Reappointed as ACMA Chair
The Governor-General, His Excellency General the Honourable David Hurley AC DSC (Rtd), has accepted the Albanese Government’s recommendation that Ms Nerida O’Loughlin PSM be reappointed as Chair of the Australian Communications and Media Authority (ACMA).
Ms O’Loughlin has been reappointed for a three-year term, commencing on 14 October 2024, having first been appointed in 2017 and reappointed in 2022.
The Chair has extensive executive and regulatory experience, and is well respected across the sector. Her reappointment provides continuity as the ACMA works to deliver important outcomes for consumers and industry in the communications and media sectors, and implement reforms being undertaken by Government.
In her current term, Ms O’Loughlin has led the ACMA’s work to strengthen telecommunications consumer safeguards, particularly for vulnerable Australians, overseen the establishment of BetStop – the National Self-Exclusion Register and Australia’s first SMS ID Registry – and taken strong enforcement of anti-scam and illegal gambling rules.
Ms O’Loughlin has also led important work on media diversity, misinformation and disinformation on digital platforms, and supported improved digital connectivity through the allocation of valuable radiocommunications spectrum.
Quotes attributable to Minister for Communications, the Hon Michelle Rowland MP:
“I congratulate Ms Nerida O’Loughlin PSM on her reappointment as Chair of the Australian Communications and Media Authority.
“Since her appointment in 2017, Ms O’Loughlin has led the ACMA to deliver important reforms and regulatory activities in the communications and media industries.
“This includes better supporting consumers facing financial hardship pressures in paying their telecommunications bills, mitigating consumer harms in gambling advertising, enforcing anti-scam rules and taking enforcement action against corporations for non-compliance with Australia’s spam unsubscribe rules.
“The Chair’s continuity will provide the Authority ongoing certainty as the Albanese Government continues its important media and digital platforms reform agenda.
“I look forward to continue working with Ms O’Loughlin as the ACMA Chair.”
The post Nerida O’Loughlin Reappointed as ACMA Chair appeared first on European Gaming Industry News.
Australia
Crown Reinstated at Sydney Casino
The NSW Independent Casino Commission has found Crown Sydney suitable to retain its casino licence after nearly three years of intensive remediation.
Chief Commissioner, Philip Crawford, said Crown has come a long way and must now demonstrate its long-term commitment to maintaining suitability.
“The NICC is confident the Crown we deemed suitable today has a strong model to keep operating into the future,” Mr Crawford said.
The NICC’s suitability assessment established that Crown Sydney has fundamentally reformed its business and is operating the casino within the objects of the Act, the requirements of the suitability deed, and in compliance with its regulatory obligations.
In addition to proving it can run the casino lawfully, Crown has remediated its business in other meaningful ways such as building a culture of transparency and accountability across its integrated resort.
“Hard work and transformation aside, the NICC has not forgotten the level of misconduct exposed in 2021 when Crown was found unsuitable,” said Mr Crawford.
“Crown Sydney has ongoing work to reach steady state and it must continue to lift standards and maintain its cultural transformation.
“There is and will always be room for improvement, but Crown is a changed business that is looking toward the future.
“Likewise, the NICC is a changed regulator with enhanced powers, a singular focus on casinos, and a mandate to address the risks of harm.
“This decision is a positive outcome for Crown Sydney, its staff, and the community – who can be sure the NICC will use all of its powers to keep the casino in check.”
In addition to the implementation of hundreds of new internal controls, the Bergin-based reforms have been reflected in a new licence and new regulatory agreement between Crown Sydney, the NSW Government and the NICC.
These agreements include updated settings, such as the removal of fetters to the NICC’s powers, as well as previous compensation trigger clauses that are no longer part of the casino legislation.
Mr Crawford said: “Crown cannot disregard the responsibility and privilege that comes with holding a casino licence. Crown Sydney’s ability to provide a destination hospitality and entertainment venue underpinned by the restricted gaming facility is contingent on its steadfast commitment to continuing suitability, accountability and compliance.”
The post Crown Reinstated at Sydney Casino appeared first on European Gaming Industry News.
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