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July - August 1999
Asia & Australasia

25th August  Sydney   Source: Reuters
   AWA Ltd  the gaming equipment manufacture has announced a net profit of A$7.89 million for 1998/99, compared to a loss of A$830,000 in the previous year.

    The company has also revealed that it is looking for a strategic alliance to enable it to move into internet bookmaking. Asia is seen as a growth area especially with the popularity of European soccer betting in the region.
    Keno at the moment is the major revenue provider for the company, and has agreed to provide the game to the Burswood Casino in Perth.
 

20th August  Sydney   Source: Reuters


    Betting Agency TAB Ltd has seen strong growth in its telephone betting service up 45% in the last year. Full year net profits were A$53 million. The company books bets on racing as well as sporting events.  The company currently has around  8,000 clients that bet via the internet.
 

17th August  Australia   Source: ABC News online


    Plans for Victoria to allow Internet gaming have been critisized by Anti gambling groups in the wake of the Productivity commission report.
    The Reverend Tim Costello, from the Interchurch Gambling Taskforce, said addicts using the Internet could lose their homes without leaving them.
 

29th July  Sydney   Source: Reuters


    With the United States expected to ban Internet gaming, the push by Australia's state-based legislators to embrace online gambling has been driven by the potential tax windfall. Victoria, Queensland and the Australian Capital Territory will tax gross profit -- money gambled less winnings -- from casinos at 50 percent.
    Lasseters has taken A$4 million (US$2.58 million) in online bets since its startup in April and is seeing the outlay double each month.
 

20th July  Melbourne   Source: Reuters


    The board of Sydney casino group Star City Holdings Ltd recommended that shareholderes should accept Tabcorp Holdings Ltd's revised takeover offer of one of its shares plus A$1.97 for every eight Star City shares.
    If the shareholders agree the revised deal the group would have revenues of more than A$1.5 billion a year and become one of the top 30 Australian companies by market value.
 

20th July  Sydney   Source: Sydney Morning Herald


    The Herald ran a series of articles concerning different facets of the casino gaming world based upon the release of the of the Federal Governments Productivity commission draft report
    The first an article highlighting problem gambling the second on the social costs of treating gambling related problems.

    Australia's 330,000 gambling addicts are each losing $12,000 a year - the cost of paying off the average Sydney home loan.
    The most detailed report on the gambling industry finds that "problem gamblers" account for only 2.3 per cent of the adult population but lose almost $4 billion a year, or a third of all gambling revenue.
    The commission estimated problem gambling - including bankruptcy, counselling services court, jail, divorce and separation, depression and suicide - cost up to $5.2 billion last financial year. State gambling tax revenues totalled $3.8 billion in 1997-1998.
 

19th July   Australia  Source: Reuters


    Melbourne's Crown Casino Ltd had the potential to become the world's largest Internet gambling operation according to brokerage firm Merrill Lynch.
    Merrill's report also stated that other Australian companies were also likely to be big winners if the US banned internet gaming and Australia had a  well regulated and respected online industry.
    A group of small operators mainly in the Caribbean and from Russia are likely to dominate the industry for the next few years but will then be "elbowed out" by the bigger players.
 

8th July  Sydney  Source: Press Release


    Accor is to make its debut in Australia's casino sector following a joint venture agreement with Casinos Austria Group
    Accor currently manages nine casinos in France, with two further concessions in France recently awarded to the company. It also runs the Dragonara Casino in Malta.
    The Reef Hotel Casino opened in Cairns in January 1996. The Casino has a total gaming floor of 7,000 square metres, with 45 gaming tables and 540 slots.
Accor to join with Casinos Austria to revitalise Reef Casino Trust
 

1st July  Phnom Penh  Source: AP


     A Malaysian-run riverboat casino won a ruling in a Cambodian court allowing it to remain open despite a government ban on gambling establishments in the capital, officials said today.
   Prime Minister Hun Sen had ordered the immediate closure of more than a dozen unlicensed casinos in Phnom Penh, saying gambling was linked to a high incidence of violent crime.
    The Cambodian leader also gave two licensed casinos - Naga Floating Casino and Holiday Club Casino - six months to move their operations at least 125 miles away from the city. The deadline was Wednesday.