Gamingfloor.com
Google
Find in page
April - June 1999
Asia & Australasia

30th June   Hong Kong  Source: Asia Pulse
    A Hong Kong business group will open North Korea's first casino July 31 inside a free trade zone.

    The Emperor Group invested US$180 million in February 1997 to finish by next year a 100-room hotel in the Rajin-Sonbong free trade zone in the North, and the casino will open first near accommodations for hotel employees.
 

29th June   Australia  Source: ABC News


    ABC News reported that staff at Sydney's Star City Casino and sections of the Gaming and Racing Department will go on strike from midnight tonight to protest against the cutting of public service jobs by the New South Wales Government.
 

28th June   Australia  Source: ABC News


    Figures released from the Australian Bureau of Statistics show the net takings of Australia's gambling industry topped $11 billion in the 1997-98 financial year,  a 42 per cent increase on the industry's net takings in 1994-95.
    Gaming machines accounted for just over $6.4 billion, or 58 per cent of the total net takings They are followed by casino gaming tables at $1.4 billion, a further $1.4 billion for racing and $1.1 billion for Lotto-style games.
 

24th June   Canberra  Source: Asia Pulse



    Australian adults spend an average A$736 ($US482.08) each a year on gambling, with people in New South Wales the worst offenders and pokies the most costly temptation, a survey today found.
    An Australian Bureau of Statistics (ABS) social trends survey said in 1996/97, Australians spent A$10 billion or three per cent of theirhousehold disposable income on gambling.
    In 1972/73, gambling expenditure - the amount wagered less the amount won - amounted to 1.6 per cent of household income.
    NSW has maintained the highest per capita gambling expenditure, which reached $853 in 1996/97.
 

21st June   Australia  Source: Yahoo


    Crown Casino shares have traded for the final time, closing unchanged at 90 cents on volume of 11 million. Crown will tomorrow become part of Kerry Packer's Publishing and Broadcasting Limited.
    Ecorp, the Internet subsidiary of PBL, was the most heavily traded stock by volume.
 

18th June   Australia  Source: Yahoo


    The Victorian Supreme Court has approved the merger between Crown casino & Kerry Packers PBL. Shareholders blocked an initial attempt last year.
    Crown's shares which closed  at 90 cents will disappear from the Stock Exchange their value having surged since the revised offer was made last December. Crown investors receive one PBL share for every 11 Crown they hold.
 

17th June   Australia  Source: Yahoo


    An Alliance Party Bill which would have given people a direct say in whether a casino is built in their area has been rejected by MPs.
    MPs had a conscience vote on the issue and voted 62-55 against it proceeding any further.
    It would have given people in the affected area 30 days from the time the Casino Control Authority gave notice of its intention to grant a licence, to get 10% of voters to demand a poll. The results of any poll would have been binding.
 

7th June   Sydney  Source: Reuters


    Star City Ltd, the operator of Sydney's only casino, said on Monday it liked certain aspects of a takeover bid by Melbourne-based wagering group Tabcorp Ltd but was not ready to endorse the price terms.
    In mid-April, Tabcorp offered A$1.49 in cash and one of its shares for every eight Star City shares, saying a successful merger would create a leisure and entertainment company with revenues of more than A$1.5 billion a year and an expected market capitalisation of more than A$4 billion.
    Star City reported a net profit of A$16.89 million in 1998 from a loss of A$56.79 million in 1997.
 

3nd June   Australia  Source: ABC


    The merger of Melbourne's Crown Casino and Kerry Packer's Publishing and Broadcasting Limited has received the consent of the Victorian Government.
  The merger also received approval from both companies' shareholders in March. PBL has offered one PBL share for every 11 Crown shares owned.
 

2nd June   Hamilton NZ  Source: NZPA


    Parliament is due to vote today on a bill that could allow public opinion to decide whether casinos are built in Hamilton and Queenstown.
    The Casino Control Authority has allowed two casinos in Queenstown and has yet to decide on Hamilton's planned $65 million Riverside Casino. A vote on the bill may be delayed several weeks as Parliament is expected to go into urgency for a raft of legislation.
 

1st May   Sydney  Source: Financial Times


  There was anger among social welfare groups in Australia after the Government announced tax breaks for Casinos. This comes hot on the heels of an official report that showed Australians lost A$11bn on all forms of gambling last year, equating to 2% of GDP.
 

30th April   Manila  Source: Yahoo Aus/NZ


    The Philippine Amusement and Gaming Corporation (PAGCOR) delivered record breaking figures during the first quarter of the year as it posted total revenues of P3.17 billion from January to March, a 12 percent increase over the state-gaming firm's P2.84 billion income for the same period last year.
    PAGCOR's net income after taxes of P1.73 billion showed an increase of six percent over the P1.63 billion net income recorded in the first quarter last year.
    The first quarter financial report showed that the revenues generated by the corporation from its gaming operations totalled P3.01 billion, a 10 percent improvement from last year's P2.73 billion.
 

24th April   Australia  Source: Tasmanian Gaming report


    Australians gambled a staggering total of A$94.5bn in 97/98 a report from the Tasmanian Gaming Commission has revealed. Of that total they lost A$11.3bn. That is an average of  A$818 for every adult Australian.
    NSW gamblers lost an average of A$963 with A$3bn being taken in the state by gaming machines alone.