27th
February Sydney Source:
Dow Jones
Aristocrat
Leisure Ltd on the 22nd reported net profits of A$36 million for the
six months ending December 31st. Domestic sales in Australia were down
A$47 million for the period.
The company is hoping to get its manufacturers license for Nevada in mid
2000. The result of the March 7th vote on Proposition 1A in California
will also be important for the company. In South Africa, new markets are
expected to come online during the year after delays through legal actions
in 1999. To make the Stock more affordable the Aristocrat board is also
planning a 4 for 1 stock split. The share price that had recently reached
A$22 closed on Friday 25th at A$17.
25th
February Perth Source:
News Asia/Yahoo
Over
on the west coast of Australia the Burswood
Casino in Perth has announced a 36% fall in profits for the first 6
months to December 31st. The drop to A$9 million is blamed on a lack of
"High Rollers", defined as customers, mainly Asian, with a potential worth
of A$500.000 or more. Profits
fall 36% at West Australian Burswood casino
25th
February Wellington, NZ Source:
Dow Jones
New Zealand's Sky City Ltd. following on from the potential successful
bid for the Adelaide Casino in South Australia has announced that the company
also has internet gaming plans.
The focus will be on setting up a venture in Australia in one of the 5
states that have moved to regulate online gaming. The company believes
that while the New Zealand governing Labour Party have made no indication
of their policies, that Australia is potentially the best bet.
NZ
Sky City To Pursue Casino-Internet Gaming In Australia
23rd
February Adelaide Source:
ABCNews
New
Zealand's Sky City that operate the Auckland Casino have emerged as the
"Preferred bidder" for South Australia's Adelaide
casino. The bid of A$180.3 million was made following the state announcing
its intention to divest itself of all gambling interests. SA is the last
state in the country to have a stake in the casino business. The property
presently has 70 tables and 760 slots.
22nd
February Australia Source:
ABCNews
The
change of emphasis by Australian State Governments towards gambling in
light of the December 1999 release of the Productivity Commission report
continues.
The Victorian Government is said to be preparing legislation that will
encourage the Casino and Gaming Authority to promote responsible gambling.
Measures being put forward include capping the number of Pokies to banning
24 gaming in country areas.
21st
February Manila Source:
Yahoo Asia News
The
news from Asia over the last week has once again concerned Stanley Ho.
The main themes being his chairmanship of BW Resources, the companies rollercoaster
stock price movement and investigation by the Philippine police on allegations
of links to organized crime. Shares in BWR during October 1999 hit a high
of PHP107, more than 52 times the price at the start of the year when Dr
Ho took a 10% stake. Since that time they have fallen back, closing at
PHP3.60 at the end of trading on Friday 18th. Potential manipulation of
the price is under investigation by the Philippine Stock Exchange.
Also on the 18th, Dr Ho was given the all clear by National Police Deputy
Director-General Panfilo Lacson who said that their investigation has uncovered
no evidence he was linked to criminal groups.
Tycoon's
partners 'in scandal'
Casino
tycoon
16th
February Aukland, NZ Source:
Dow Jones/Yahoo Aus/NZ
Aukland
casino operator Sky City Ltd. has unveiled six month results ending Dec
31st up 24% to NZ$27.7 million. Managing Director Evan Davies told Dow
Jones newswires that Australia would be a natural place for the company
to expand but would not say if Sky were on the shortlist to buy the Adelaide
casino.
In addition to the Aukland casino, the company also has 60% share in the
casino presently being developed on the South island at Queenstown, and
55% of the Hamilton casino. These properties are expected to open in late
2000 and early 2001 respectively.
NZ
Sky City CEO Sees Australia Expansion As Logical Move
NZ's
Sky City 1H Net Pft NZ$27.7M Vs NZ$22.4M
9th
February Melbourne Source:
Yahoo Asia/AFP
The
Crown
Casino owned by Kerry Packer's Media group PBL has posted a win of
A$111 million on gross revenues of A$468 million for the 6 months ended
December 31st. The figures showing an increase od 1% and 0.2% respectively
over the 6 months prior.
Packer's
PBL lifts interim net profit 17 percent
5th
February Queensland, Australia Source:
Sydney Morning Herald/AFR
Queensland
casino operator Jupiters has revealed a net profit on operations
of A$33.7 for the 6 months ended December, up 43%. Gross operating revenue
was A$306 million up 8% and EBITDA was A$75.8 million up 20%.
Last year the company acquired AWA for A$143 million. Jupiters has also
been chosen by the Queensland Government to operate the Gold Coast Convention
Centre for which it is expected to make a contribution of A$150 million
towards construction costs.
4th
February Hong Kong Source:
Yahoo Asia/AFP
Macao
casino operator Stanley Ho continues to be in the headlines in Asia. The
two main stories concern the Philippines and Hong Kong. In the Philippines,
the arrival of the 4 story "Jumbo Palace" in Manila harbour and Dr Ho's
chairmanship of BW Resources has sparked fierce coverage in the press.
In Hong Kong the prospect of a casino industry being set up could eventually
take a sizeable number of the main players away from Macao's 9 casinos.
The 78 year old Dr Ho is seeking an extension of the casino monopoly for
Macao established in 1962 and due to expire in 2002.
Casino
boss to defy Philippine probe over alleged crime links
HONG
KONG: I'll quit if SAR opens casino: tycoon
3rd
February Manila Source:
ABC News
ABC
News on the 30th January carried a story from Reuters that Stanley Ho,
due to travel to Manila for the ceremonial blessing of the "Jumbo Palace"
floating restaurant, had cancelled the trip. Dr Ho, now chairman of Philippine
company BW Resources was said to be outraged at the vilification he had
received in the Philippine press and was seeking legal advice over allegations.
28th
January Tokyo Source:
Reuters
Konami
Co Ltd has become the first Japanese software and gaming machine manufacturer
to be licensed by the Nevada Gaming Commission. The company through its
subsidiary Konami Gaming Inc. is also aiming at being licensed in California,
Mississippi and New Jersey. Konami plans to invest 2.5 billion yen
in a 20,000 square-metre site in Nevada
27th
January Manila Source:
Asia Pulse
BW
Resources that in recent weeks has seen its stock price soar and then tumble
on the Philippine Stock Exchange after being linked with Macao casino operator
Stanley Ho, has had its stock suspended on the Manila exchange. Reasons
cited being rumours of a large foreign investment about to be made in the
company.
Mr Ho's floating "Jumbo Palace" restaurant and casino is currently located
in Manila Bay after being towed from Hong Kong over the New Year.
18th
January Adelaide Source:
Aus Yahoo/Reuters
Reuters
Australia reported on January 14th of the impending sale of South Australia's
Adelaide
casino. Also on the sales block, as two of the state government's privatize
their gambling interests are the TAB operations in South Australia and
Northern Territories.
The expected price for the Adelaide casino that is the sole operator in
the state is A$200 million. Net gaming revenues in 1998/99 were a very
respectable A$21 million on a gross of A$77.8 million. Queensland that
sold its interest in it's TAB operations in 1999 raised approximately A$262
million.
8th
January Australia Source:
AFR
The
Australian Financial Review has a very good article on the changes that
took place in the structure of Australia's casino industry in 1999. Also
covered is the future for internet gaming and legislation within the country.
Comment:
It was thought a few months ago that Australia would become the new frontier
for Internet casinos but now the situation is not so clear. Since the initial
release of the Productivity Commission draft report the Australian gambling
industry seems to be coming under increasing pressure from the Howard government.
Top of the list are concerns about and the effects of problem gambling.
During 1999 Melbourne's Crown casino was purchased by Kerry Packers PBL
and Star City in Sydney by Tabcorp. AWA is also shortly going to disappear
following a successful bid by Queensland based Jupiters.
5th
January Brisbane Source:
Reuters
Queensland
based casino operator Jupiters Ltd has announced that it will proceed to
acquire the remaining shares in gaming equipment manufacturer AWA Ltd.
The company has received acceptance of its bid of 65 A$ cents per share
from 90% of shareholders.
3rd
January Shanghai Source:
The Australian
The
Chinese population of 1.3 billion is presently spending $1 billion a year
on lottery tickets according to an article in The Australian. Gambling
that was officially banned when the Communists came to power in 1949 is
slowly making a comeback through two competing lotteries in Shanghai. The
top jackpot in the Social Welfare Lottery being 5 million Yuan, around
A$800,000.
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