Monthly Archives: August 2018

Ex-Aussie bourse boss Elmer Kupper departs from Tabcorp

Elmer Funke Kupper, the former boss of the Australia Securities Exchange (ASX), is stepping down from his post as one the directors of Australia’s biggest sportsbook Tabcorp Holdings Ltd.

The Australian reported that Kupper, who has been on a leave of absence since authorities launched an inquiry into his supposed anomalous business dealings in 2016, will be leaving the company in October. Tabcorp has yet to announce Kupper’s replacement.

Kupper has been a known fixture in Tabcorp for more than a decade. He was appointed as Tabcorp’s Chief Executive for Australian Business in February 2006, and then assumed the role as Tabcorp’s Managing Director and Chief Executive Officer in September 2007.

In June 2011, Kupper stepped down from his post in Tabcorp to take up the leadership of the Australian Securities Exchange (ASX). Tabcorp named incumbent CEO David Attenborough as his replacement at that time.

Buffalo Wild Wings mulls adding sports betting to their plate

Would you like some side bets to go with your cold beer and spicy wings, sir?

Popular U.S. sports bar chain Buffalo Wild Wings (BWW) is now eyeing a venture into the sports betting business in a bid to enhance the restaurant business for its guests, according to a report published in Gaming Today.

BWW reportedly has 1,700 bars across the United States where sports fans living in suburban cities usually hang out to watch the biggest league games, such as the NFL. The company believes it is in the best position to offer sports betting in the country despite usually being overshadowed by sportsbooks.

The restaurant chain confirmed to ESPN’s David Purdum that it’s “actively exploring opportunities, including potential partners, as we evaluate the next steps for our brand” when asked about its sports betting ventures.

Crown Resorts sues NSW government over iconic Sydney Harbor view

Australia-listed casino operator Crown Resorts Ltd. has challenged the New South Wales (NSW) government to a legal tug-of-war over the iconic Sydney Harbor view.

The Wall Street Journal reported that Crown Resorts has brought the Barangaroo Delivery Authority (BDA) to court over concerns that any new property developments could obstruct the harbor views from its Barangaroo casino.

Crown is betting on the unobstructed Barangaroo views to attract affluent Chinese gamblers to visit its casinos in Australia after the casino operator has decided to fold up its overseas expansion plans.

In its lawsuit, Crown wants the court to compel BDA to comply with a contract requiring the government to consult any developments that may affect the panoramic views of the iconic Sydney Opera House and Harbor Bridge.

Additional sponsors agreed for AffiliateFEST 2018

Following the announcement that keynote speaker Ben Jeffries will be headlining the fourth annual AffiliateFEST agenda, organisers Affiliate Insider have confirmed three new principal sponsors for the event, which is being held at the Hilton Hotel, Olympia on Wednesday September 19.

Among the sponsors already agreed, newcomers Novibet, Video Slots and affiliate site –  YourFreeBet.com are joining this year’s line-up in support of affiliate education and entrepreneurial iGaming skills development

Valuable Insight

As part of the agenda, networking between affiliates, operators and service providers offers an opportunity to share insight and goals and YourFreeBet.com are delighted to be involved as the official networking sponsor.

Paradise Co. slashes Q2 net loss as more Japanese tourists play

South Korea-listed casino operator Paradise Co. Ltd has slashed its net loss by 91 percent in the second quarter of 2018, thanks to the influx of Japanese players in the country.

In a disclosure to the Korea Exchange on Wednesday, Paradise reported an improved net loss of KRW1.7 billion (US$1.5 million) for the three months ended June 30, 2018, against the KRW19.45 billion (US17.37 million) net loss it registered in the same period a year ago.

Paradise also incurred an operating loss of KRW67 million (US$59,847) during the second quarter of 2018 versus an operating loss of approximately KRW27.3 billion ($24.39 million) a year earlier.

The figures, however, paled in comparison with its first quarter 2018 performance, which chalked a net profit of KRW3.1 billion (US$2.77 million). For the first half of 2018, Paradise reported a total profit of KRW1.4 billion (US$1.25 million).

Galaxy Entertainment net profit jumps 56% in H1

Hong Kong-listed casino operator Galaxy Entertainment Group (GEG) registered a 56 percent net profit increase in the first half of 2018, driven by record mass market and strong VIP segments.

GEG announced before the Hong Kong Stock Exchange that its net profit attributable to the company’s shareholders grew to HKD7.2 billion (US$917.2 million) for the six months that ended in June 2018.

The group’s net revenue also jumped 25 percent to HKD28.1 billion (US$3.56 billion) in H1 2018 while its adjusted EBITDA climbed 34 percent year-on-year to HKD8.6 billion (US$1.09 billion) despite “bad luck in its gaming operations.”

Financial data shows that GEG’s VIP and mass market segments boosted the profits of the casino operator. GEG’s total gaming revenue—excluding those generated by the City Clubs that use Galaxy Entertainment’s gaming license but were managed by third-party investors—climbed 30 percent year-on-year to HKD34.3 billion (US$4.37 billion).