Chief Stipe

So @Kit Walker what is your motivation?

Again another journalis beat up. Where is the evidence of that? Yes as is every other organisation handling large sums of money.

Ladbrokes was purchased by ENTAIN. With regard to the compliance software - it has struggled to keep up with changes in regulations and enforcement agency expectations. The enforcement agencies have been given access to a considerable amount of data that businesses don't have access to. Not only that by the agencies have been well funded. If the systems were that good why did WESTPAC get it so wrong? Even the Commonwealth Bank of Australia got done $700m in 2018 i.e. 7 years ago. The software is good at raising flags but not so good at aiding investigation. For example how would Ladbrokes (now ENTAIN) have access to the bank statements of big customers unless they requested them at sign up? Let alone draw the dots between a report in the media about an asian drug trafficker and a customers bank account? Especially 15 years ago. That's drawing a long bow. Are you suggesting our AML enforcement agencies aren't up to scratch?

Ladbrokes aren't alone in that regard. A losing punter is gold. Ladbrokes started in AUS in 2013. ENTAIN didn't buy Ladbrokes until 2018 even then it was a precursor to ENTAIN namely GVC. ENTAINS statutory issues were essentially purchased issues.

Most of the cases mentioned in AUSTRAC's claim go back to 2015. By international standards $15m isn't large. Kerry Packer used to bet more than $500k a hand of poker and $10m+ in a sitting. What also isn't mentioned in the embellished articles is that ENTAIN has been improving their AML systems. Many of the cases date back years and relate to entities that ENTAIN purchased e.g. Ladbrokes. Most of the accounts in question have already been closed as the new systems have come into service. So in terms of "previous similar problems" these statutory issues overlap and isn't as if ENTAIN has been sitting on their hands. If you want to be informed read the 600+ pages of the AUSTRAC Statement of Claim (attached). I'm sure it will keep you excited for days. AUSTRAC CEO v Entain Group Pty Ltd - Statement of Claim (redacted).pdf

They have an interim CEO - Stella David. The EBITDA for the 2024 year is NZ$2.5 billion - so they aren't doing that bad. In fact the majority of financial analysts are saying buy.

As with many of the journalists writing these articles they tend to embellish the facts. The person referred to in this article who allegedly knew an alleged asian drug trafficker opened an account in 2015 and it was closed in 2022. AUSTRAC expected ENTAIN to match foreign news reports to the trafficker who allegedly deposited money in the account holders bank account. The ladbrokes account had a turnover of about $9m in 7 years. The second example is similar however as these articles tend to do they infer the turnover was the amount that was allegedly money laundered when the amount is considerably less than that. AUSTRAC have a dedicated team that has access to a considerable amount of financial data that ENTAIN doesn't. In terms of perspective the Statement of Claim against ENTAIN pales in comparison to the likes of SkyCity, SportsBet, and Westpac. One punter at SkyCity had a turnover of nearly $2 billion! Westpac was fined $1.3 billion for 19 million individual breaches of the act.

Uh? Reported where? I suspect you have made it up.

About what?

Then you'll be back to training on the AWT.

How'd they know he was from NZ?

Amazing how NZ "journalists" find something out of nothing. LOL if the journalist wasn't lazy he'd report that a previous AUSTRAC case had one of about 300+ subjects of investigation turning over more in gambling than is bet on the NZTAB. That's turnover. Meanwhile we are expected to suck a lemon over a report that someone turned over $10m?! 20 years ago Kerry Packer tossed a coin for $50m.

Where is that stated in the Statement of Claim @Kit Walker? The sums mentioned were probably not deposited in NZ. So @Kit Walker what is your point?

ENTAIN are better placed than any other entity that AUSTRAC has taken on. TABNZ would have been nailed. You only have to look at how much AUSTRAC got out of their own bank WESTPAC to understand that ENTAIN are small fry. ENTAIN have been working with AUSTRAC to improve their systems.

Are you having another bad night Forbs?

What other business monopoly or otherwise publishes on a regular basis its margins? Plus they don't have a monopoly on selling the NZ product just a monopoly on selling it to the NZ market. But that said Harness seem to get their turnover figures and publish them so maybe it is a code issue i.e. NZTR and TABNZ. We still have no answere to where @TAB For Ever got his turnover figures from.

What the hell are you on about now?

You chose to "dip out on the coffee".

Post it here.

Commercial sensitivity. Now who is auditing the turnover so that a fair distribution to each code and the national sporting association is done? I thought TABNZ were responsible for that so it begs the question if they have the information why isn't it in the annual report?

Because there are monopolies and there are monopolies.

So you basically have no idea.

Looks like they have given it a good nudge and spent a decent amount of money to do it.

Well Ruakaka does need some renovation - desperately needs rain at the moment as I understand the track grass has browned right off due to irrigation restrictions and the drought. I know at least two major trainers who would set up a winter/early spring satelite stable at Ruakaka if they were guaranteed a meeting every fortnight.

Just did a search on BOAY @TAB For Ever and can only find the recidivist "fuck-wit" user @Joe Bloggs who often used the term. He and his mate @nomates got pissed off and left and since then I can't find use of the term until you just did.