#James Packer

Review Journal

Las Vegas casino was imploded years ago, but no word if new resort will be built

When the New Frontier was imploded in 2007, the spectacle featured a fireworks show, cheering onlookers and a chanted countdown to the resort's destruction. Approaching 17 years later, the Strip property is still waiting for a new resort to take shape - and there's no telling when that might happen. Casino operator Wynn Resorts, which acquired the…

Land-based ・ 21 days

Review Journal

Las Vegas has long history of never-built casinos, other big projects

Las Vegas is known around the world for its towering casino-resorts. But for all the massive projects that have been built in America's casino capital, there have also been many supersized ideas that never materialized. Here's a look at some never-built projects, from the Strip to the suburbs, as outlined in news reports, Clark County records and…

Sports ・ 09 March 2024

Gila Herald

Meet the five biggest gamblers in Australia: The legends of Australian gambling

Gambling has seen a significant rise in popularity in Australia, with an increasing number of real-money online casinos emerging to meet the demand of players. While many Australians do gamble, only a select few have truly excelled and have earned a small fortune along the way with a combination of luck and skill. Casinoshub.com has highlighted the…

Sports ・ 09 August 2023

The News Reporter

Are There Many Pokie Machines in Western Australia

Western Australia poker machines operate under the gaming and wagering commission. The rules control gambling expenditure among locals, with South Wales recording the least cases of risky gambling. There are many pokies to enjoy in Western Australia, although Crown Perth is the only casino with electronic gaming machines. The facility houses a…

Poker ・ 20 May 2023

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Financial Review

Casino investors should share in dirty money risks

The casino licences are immensely valuable - Crown paid Victoria $100 million just to extend its - and the monopoly or near-monopoly underpins their market value. Yet there is no regulatory cliff-edge where the licence will be swiftly removed because of non-compliance. If not in these instances, when could a casino licence conceivably be forfeited…

Finance ・ 15 September 2022

The Sydney Morning Herald

Sydney casinos: High rollers still on the menu as Crown and Star lock horns

After a decade of drama, Sydney finally has two casinos vying for its gambling dollar - separated by the barest sliver of a harbour. Crown Resorts and Star Entertainment Group have been put through the regulatory ringer, many would say belatedly, for their shoddy approach to compliance. But suitably chastened, both are now ready to go toe-to-toe in…

Travel ・ 12 August 2022

Times Of Casino

The 10 Richest People in the Casino Industry

Casinos are getting bigger, with more slots and tables games, spectacular shows, Michelin quality dining, and five-star hotels. In a chaotic world, where life can sometimes seem a little dark, casinos are man-made paeans to excess, indulgence, and fun. Gambling politics aside, casinos are built for both pleasure and profit. When it is done well,…

Industry ・ 10 August 2022

ABC Australian Broadcasting Corporation

Crown's Sydney casino to deliver $100m in extra tax revenue for NSW government in first year, experts say

Crown's Sydney casino is expected to deliver an extra $100 million in tax revenue to the NSW government in its first year, just a quarter of what its Melbourne venue delivers to Victoria's coffers. Crown was granted a licence to run its Sydney casino earlier this week Experts say the casino will make a quarter of what Crown Melbourne makes Crown…

Finance ・ 26 June 2022

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Blackstone closes in on Crown Resorts as WA government approves takeover of Perth casino

Blackstone has cleared a major final hurdle in its planned $8.9 billion takeover of Crown Resorts, with the WA government announcing it has given regulatory approval to the deal. The government says the acquisition is subject to tough conditions Those conditions will'align' with royal commission recommendations They will include strategies against…

Travel ・ 10 June 2022

ABC Australian Broadcasting Corporation

NSW gaming regulator finds Blackstone 'suitable' to hold licence for Sydney casino

Corporate equity giant Blackstone is a step closer to its takeover of Crown Resorts after gaming regulators in NSW and Victoria ruled it was "suitable" to hold a casino licence. Blackstone is pursuing an $8.9 billion takeover of Crown Resorts The equity giant has been subjected to an extensive probity assessment Crown has been prevented from…

Travel ・ 09 June 2022

ABC Australian Broadcasting Corporation

Crown could secure licence to open Barangaroo casino despite being found unfit by gaming regulator last year

Crown Resorts is on the verge of securing a licence to finally open its Sydney casino 15 months after being deemed "unfit" by the NSW gaming regulator. Last year the Bergin inquiry said Crown needed to make sweeping cultural changes if it wanted to be a suitable operator The inquiry investigated incidents of money laundering and links to…

Gaming Authorities ・ 03 June 2022

Techie + Gamers

Top 10 Richest Casino Owners in the World

Casinos bring in a lot of money, more than most people may realize. In fact, they generate billions of dollars each year. Players come in with a big chance of losing, but the casino owners will always win. The house always has an edge, which means that over time, they will make more money than the players. Here are the leading individuals earning…

Top and Best ・ 19 April 2022

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Financial Review

Star, Crown inquiries: How Australia’s casino industry became so rotten

But while The Star took a holier-than-thou approach to its James Packer-backed rival over the past two years - as three separate state inquiries found Crown unfit to hold casino licences in Sydney, Melbourne and Perth - the evidence heard by the NSW inquiry this past month has shown it was similarly dishonest. The NSW probe, helmed by Adam Bell,…

Industry ・ 13 April 2022

AGB - Asia Gaming Brief

Crown Resorts' Barangaroo casino to be open within weeks

Crown Resorts' casino at its new Barangaroo property in Sydney is likely to be open on a conditional basis within weeks, the New South Wales regulator said. The Australian operator opened the new resort in December 2020, but was unable to open the gaming floors after being found to be unsuitable to hold a license in the state following revelations…

Travel ・ 18 February 2022

Real Money

Blackstone Poised to Become Biggest Aussie Gambling Operator

Private equity powerhouse Blackstone Inc. (BX) looks set to become the biggest gambling operator in Australia after it made an improved offer for Crown Resorts (ASX:CWN and CWLDY), which the casino company's board said shareholders should accept. That's unless a better offer comes in... I've written about this saga a couple times before,…

Travel ・ 14 January 2022

Daily Mail Online

How a married mum spent 96 HOURS straight at a casino playing baccarat

A married mother spent 96 hours playing baccarat at Crown Casino in a marathon gambling session before napping in front of poker machines, the Victorian royal commission into the gambling giant has heard. The former doctor, whose identity has been suppressed, played the popular card game across four straight days at the Southbank casino…

Baccarat ・ 10 December 2021

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Crown pushes the share market casino into action

Some say that share markets are just glorified casinos tacked on to the economy so it was probably appropriate that trade in a real-life casino dominated the Australian market on Friday. Investors in Crown Resorts (ASX: CWN) shares have been doing it tough recently as a welter of inquiries found serious wrongdoing on a fairly widespread scale so…

Travel ・ 23 November 2021

Vegas Slots Online

The Star Sells Brisbane Treasury Hotel, Casino for AU$248m

Continuing its strategy to unlock the value of its real estate assets, Australia's The Star Entertainment has inked a US$185.9m sale and leaseback deal with Charter Hall for its Treasury Hotel and Casino in Brisbane (pictured above). [Image: Shutterstock.com] Australian gambling operator The Star Entertainment Group has offloaded some of its…

Travel ・ 27 October 2021

Vegas Slots Online

Australia: Crown Melbourne Gets to Keep Casino License

Despite being allowed to keep its casino license, Crown Melbourne will fall under strict and direct government supervision for two years following a Victoria Royal Commission review. [Image: Shutterstock.com] The government of the Australian state of Victoria has allowed operator Crown Resorts to keep its Melbourne casino license in response to the…

Travel ・ 26 October 2021

Forbes

Billionaire James Packer’s Crown Keeps Melbourne Casino License As Regulator Oversees Reforms

Australian regulators are allowing Crown Resorts -controlled by billionaire James Packer -to keep its license to operate its flagship Melbourne casino under the supervision of a government-appointed special manager who will ensure reforms are undertaken to address money laundering risks at the casino. While an independent inquiry by Victoria's…

Travel ・ 26 October 2021

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Aussie Casino Giant The Star's Shares Fall on Illegalities Claim

The cycle of negative news for Australian gambling firms shows no sign of letting up after casino giant The Star Entertainment's shares fell on the back of a money laundering claim. Leading Australian online stockbroking firm CommSec took to Twitter on October 11 to share the news that The Star's shares had slumped by 22.9% on Monday: The sharp…

Gaming Authorities ・ 11 October 2021

The Sydney Morning Herald

Star casino linked to organised crime, money laundering, foreign influence

Listed gaming giant Star Entertainment has been enabling suspected money laundering, organised crime, large-scale fraud and foreign interference within its Australian casinos for years, even though its board was warned its anti-money-laundering controls were failing. Between 2014 and 2021, Star cultivated high-roller gamblers who are allegedly…

Incidents ・ 10 October 2021

Financial Review

Crown could be forced to sublease Melbourne casino to rival

Jobs ・ 12 August 2021

Vegas Slots Online

Gambling Addict Sues Australia's Crown Resorts for $3.3m

Ahmed Hasna, a high-roller with a serious gambling addiction, is suing Australia's Crown Resorts casino group, which is majority backed by media magnate James Packer, for over AU$4.5m (US$3.3m). Melbourne local government councilor and award-winning journalist Stephen Mayne took to Twitter on August 10 to share news of Hasna's suit, which he said…

Travel ・ 11 August 2021

BBC

Sydney casinos to ban cash after money laundering scandal

Sydney's only two casinos will make their gaming operations cashless in a bid to stamp out money laundering. Regulators said The Star and Crown Sydney, which is yet to be opened, agreed to the unusual move on Thursday. It comes after an inquiry earlier this year found it was likely criminal activity had occurred at Crown Resorts' casinos in other…

Incidents ・ 15 July 2021

The Wall Street Journal

Blackstone’s Crown Deal Has Dice Loaded in Its Favor

Financial markets are often compared to casinos and financiers to gamblers. Sometimes that turns out to be true quite literally: Blackstone is placing a timely bet in Crown Resorts. That bid looks likely to turn out well. The private equity giant has offered the equivalent of $6.2 billion to buy the troubled Australian casino operator Crown…

Travel ・ 08 May 2021

Real Money

Crown Shares Soar on Blackstone Bid for Aussie Casino Operator

Crown Resorts (CWLDY) shares won big on the ASX today, with the stock soaring 21.4% in Sydney trade. That's after the troubled casino operator on Monday said it had received an A$8.0 billion (US$5.4 billion) buyout bid from the world's largest private-equity investor, the Blackstone Group (BX). The offer from Blackstone, which already owns 9.99% of…

Travel ・ 07 May 2021

Real Money

Australia's Largest Casino Company Loses Big With License Findings

Australia's largest gambling company, Crown Resorts, is facing a crisis of its own making after a damning report that finds it unfit to open its newest casino. Crown has already opened the doors to the nice-and-shiny, 75-floor Crown Sydney skyscraper, which is now Sydney's tallest building. The hotel and restaurants are open for customers. But the…

Travel ・ 07 May 2021

The Sydney Morning Herald

Crown inquiry LIVE updates: Sydney’s Crown Barangaroo casino not suitable to hold licence, Bergin report finds

If you're just joining us now, here is what you need to know. Today the NSW government tabled the long-awaited report of the Bergin inquiry into Sydney's second casino licence, which is held by the James Packer-backed Crown Resorts. Crown opened its new $2.2 billion complex in Barangaroo in late December, but without the gaming rooms that…

Gaming Authorities ・ 09 February 2021

The Sydney Morning Herald

Sydney’s casino report released under privilege

The NSW government will release the findings of its long-running probe into Crown Resorts under parliamentary privilege so it can defend itself against potential defamation claims launched by the casino giant's executives. The precaution foreshadows potentially explosive findings in former Supreme Court judge Patricia Bergin's 800-page report into…

Gaming Authorities ・ 08 February 2021

USA Online Casino

2020 in Hindsight: Top Casino News

Happy New Year! 2020 was a train wreck for all of us, and the coronavirus hit the casino industry especially hard. Here is a recap of the top casino and gambling news stories we covered in the tumultuous year of 2020. The social media catch phrase'going viral' took on a whole new meaning in 2020. The coronavirus appeared out of nowhere and quickly…

Covid ・ 19 January 2021