Brodie Posted 3 hours ago Share Posted 3 hours ago (edited) I note that Star, that own the Casino’s in Sydney, Brisbane and Surfers Paradise appears to be in major financial trouble and may well end up under administration by Friday. No one seems to be wanting to refinance their large debt and if this happens then they are going to be under administration which is not ideal for them or gamblers. Who wouldve thought that this would be possible, but it appears to be caused by mismanagement from the management going back several years. They have also been done for assisting money laundering going back many years, who wouldve thought people would launder thru a casino? And yet they think that people will money laundering here for amounts as little as 1k thru the TAB! Victoria harness is also in the shite as well thru mismanagement over several years despite being financially assisted by the state. Hopefully Entain and the NZ TAB are making good decisions or the racing industry is going to be in trouble, if poor decisions are made. What it does show is that in some cases the appointment of people to senior roles in business are poorly made. We have had 2 of the Entain management stand down at the same time and you would have to question WHY? Very serious for the gambling industry as Entain have also been done for aiding money laundering overseas as well! Edited 3 hours ago by Brodie 1 Quote Link to comment Share on other sites More sharing options...
the galah Posted 15 minutes ago Share Posted 15 minutes ago (edited) 3 hours ago, Brodie said: We have had 2 of the Entain management stand down at the same time and you would have to question WHY? Very serious for the gambling industry as Entain have also been done for aiding money laundering overseas as well! the entain australia resignations reportedly had something to do with the australian authorities investigating entain over non compliance/money laundering. its been reported Entains australian board of senior management did not keep appropriate oversight of its anti money laundering programme,which interfered with its ability to identify money laundering exploitation of their betting sites". Apparantly the people who resigned are both going to get jobs in the nz thoroughbred racing industry. .a couple of months ago austrac(the australian money laudering investigative agency) issued a press release about their investigation into entain. In it they referenced crown being ordered by the federal court to pay $450 million in penalties over 2 years in 2023 and skycity being ordered to pay $63 million in penalties last year. crown was sold by packer to USA private equity giant blackstone. Not to be confused with blackrock,and has nothing to do with jason bournes blackbriar. I did like the bourne legacy movies. so entain may be in a bit of trouble if that press realease is anything to go by. I'm going to be doing my bit to help entain avoid prosecution in nz.. I've told the wife to wear sunglasses and a balaclava when deposting money into my account at the local tab,from now on. But seriously,does not sound too good for entain if they are putting those details in a press release about entain. Entain globally did report a net loss in 2023 of 936 million pounds after having to pay 585 million pounds to relating to some bribery in turkey. they did make 19 million the year before.... apparantly over the last 3 years entain shares have dropped 56%,but they went up 9% last month,based on the expectation 2024 went well,but was down 3 % this week. They are actually reporting there 2024 financial report in a couple of days. Edited 10 minutes ago by the galah Quote Link to comment Share on other sites More sharing options...
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