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Saturday, November 27, 2010
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Casino News Media: Win A Dream Holiday And Guaranteed Entry Into WPT Celebrity Invitational; PartyCasino Big One Near $3 Million
Win A Dream Holiday And Guaranteed Entry Into WPT Celebrity Invitational; PartyCasino Big One Near $3 Million
‘The Big One’ at PartyCasino.com is nearing $3,000,000 while the accumulated jackpots on the world’s largest online casino are nearing $4,000,000! ‘The Big One’ is structured as a five tiered pool. The highest tier - Colossal Cash - seeds at $1.5 million, the biggest online jackpot seed in the industry, and currently stands at $2,840,000. Customers can play for ‘The Big One’ through traditional slot Melon Madness and the recently introduced Snow Business. Somebody is going to win very big!
PartyPoker.com recently introduced anonymous heads-up tables. How does that change your game? We asked Kara Scott et all for their views.
Win A Dream Holiday And Guaranteed Entry Into WPT Celebrity Invitational
Gibraltar – 16th November 2010 -- PartyPoker.com is offering customers the opportunity to indulge themselves in the world of the rich and famous by winning a four-day dream holiday to Los Angeles, including a seat in the prestigious WPT Celebrity Invitational at the Commerce.
A PartyPoker.com spokesman said: “Win one of our amazing prize packages and we’ll make sure you live it up in one of the coolest cities on the planet. Last year we took package winners on a tour of Hollywood and Beverley Hills as well as organising a fun-filled day at the world-famous Universal Studios – and this time it could be you experiencing the A-list lifestyle. As well as the sightseeing you’ll also get a seat at the exclusive WPT Celebrity Invitational. This event is packed full of celebrities and big names from poker but we’ve made sure our winners will have their place among the elite for a chance to win a major slice of the $200,000 prize pool.”
"These packages are sure to be popular. We don’t know how many of the 14 packages we’ll give away in each weekly satellite so remember, once they’re gone they’re gone and the promotion will be over."
PartyPoker.com’s Los Angeles packages include:
Four nights’ hotel accommodation
$2,000 spending money
Our world-renowned hospitality throughout your stay in Los Angeles
Guaranteed entry to the WPT Celebrity Invitational
There are a wide range of daily qualifiers that run until the 19th December or until 14 packages are given away. Daily freerolls mean there is the chance to win the trip to LA for free!
The WPT Celebrity Invitational is the curtain raiser for the LA Poker Classic and takes place on the 18th – 19th February 2011 – the event is overseen by WPT Executive Tour Director Matt Savage. The event is strictly invite only. Amongst the celebrities spotted in the field in 2010 were Ricki Lake and Terri Hatcher, with reality star Trishella Cannatella and poker pro Thor Hansen making the final table. Amateur Leron Washington took the $100,000 first prize.
Full information can be found at: PartyPoker.com
Please note that players have to be 21 to take part in the WPT Celebrity Invitational.
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‘The Big One’ at PartyCasino.com is nearing $3,000,000 while the accumulated jackpots on the world’s largest online casino are nearing $4,000,000! ‘The Big One’ is structured as a five tiered pool. The highest tier - Colossal Cash - seeds at $1.5 million, the biggest online jackpot seed in the industry, and currently stands at $2,840,000. Customers can play for ‘The Big One’ through traditional slot Melon Madness and the recently introduced Snow Business. Somebody is going to win very big!
PartyPoker.com recently introduced anonymous heads-up tables. How does that change your game? We asked Kara Scott et all for their views.
Win A Dream Holiday And Guaranteed Entry Into WPT Celebrity Invitational
Gibraltar – 16th November 2010 -- PartyPoker.com is offering customers the opportunity to indulge themselves in the world of the rich and famous by winning a four-day dream holiday to Los Angeles, including a seat in the prestigious WPT Celebrity Invitational at the Commerce.
A PartyPoker.com spokesman said: “Win one of our amazing prize packages and we’ll make sure you live it up in one of the coolest cities on the planet. Last year we took package winners on a tour of Hollywood and Beverley Hills as well as organising a fun-filled day at the world-famous Universal Studios – and this time it could be you experiencing the A-list lifestyle. As well as the sightseeing you’ll also get a seat at the exclusive WPT Celebrity Invitational. This event is packed full of celebrities and big names from poker but we’ve made sure our winners will have their place among the elite for a chance to win a major slice of the $200,000 prize pool.”
"These packages are sure to be popular. We don’t know how many of the 14 packages we’ll give away in each weekly satellite so remember, once they’re gone they’re gone and the promotion will be over."
PartyPoker.com’s Los Angeles packages include:
Four nights’ hotel accommodation
$2,000 spending money
Our world-renowned hospitality throughout your stay in Los Angeles
Guaranteed entry to the WPT Celebrity Invitational
There are a wide range of daily qualifiers that run until the 19th December or until 14 packages are given away. Daily freerolls mean there is the chance to win the trip to LA for free!
The WPT Celebrity Invitational is the curtain raiser for the LA Poker Classic and takes place on the 18th – 19th February 2011 – the event is overseen by WPT Executive Tour Director Matt Savage. The event is strictly invite only. Amongst the celebrities spotted in the field in 2010 were Ricki Lake and Terri Hatcher, with reality star Trishella Cannatella and poker pro Thor Hansen making the final table. Amateur Leron Washington took the $100,000 first prize.
Full information can be found at: PartyPoker.com
Please note that players have to be 21 to take part in the WPT Celebrity Invitational.
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Online gaming companies in for huge 2011, by Greg Tingle - 23rd November 2010
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Could online gaming firms be in the mix of the top stockmarket investments to make in 2011?
The listing of Betfair (BET) at the conclusion of October on a fancy multiple and the $3.3 billion megamerger between PartyGaming and Bwin (PRTY), due to complete in the first quarter of 2011, appears to have added spark to the industry of late.
Then there is the prospect, albeit slight, of the liberalisation of the US igaming market which has put the industry firmly on investors' watch list, including ours, for next year.
It is understandable, as even a snapshot look at the stockmarket gains of the world’s biggest online gaming companies between circa 2004-2006 reveals just how quickly fortunes were made and lost.
The iGaming Global Top 30 Index, an index of the stockmarket performance of the biggest 30 online gaming companies, surged 40% between July 2004 and August 2005. This was followed by 12 months of extreme volatility before sinking thanks to a controversial piece of legislation in the US.
Since 2006, online gaming’s real story has been dominated by America’s Unlawful Internet Gambling Enforcement Act (UIGEA).
The multibillion-pound global industry virtually collapsed in a heap after its biggest market - the US - was closed down overnight when Congress introduced a surprise clause to legislation in September 2006, in effect making internet betting illegal. Not only was that a blow for investors - it was a hugely expensive one.
British-based companies were among the biggest casualties.
As soon as the London Stock Exchange opened the following Monday morning, shares in PartyGaming - then a FTSE 100 member - dived by 58%, while rivals 888 Holdings (888) and Sportingbet saw their shares slide by 26% and 64% respectively, wiping an estimated £4 billion off the sector's value.
The companies were forced to focus on opportunities in other parts of the world, but the businesses have never fully recovered from the impact of losing their most lucrative market. Last year, online gambling was worth an estimated $5.4 billion (£3.5 billion) overall, a figure that could rise to $12-$16 billion if the market was opened up, analysts say.
Despite the recent loss of a sympathetic Democrat majority in Congress last month, there is renewed hope of floated gambling companies being dealt a good hand on both sides of the Pond.
The new Republican chairman of the House financial services committee is likely to be an old-style Alabaman named Spencer Bachus.
Yet he is likely to listen to the prospects of a reinvigorated gambling sector for the ailing US economy. The Federal government’s non-partisan accountants, the Joint Committee on Taxation, have estimated online gambling could generate between $10 billion and $42 billion in new revenue by 2019, depending on the number of states that opt into a federal regulatory programme.
Yet he is likely to listen to the prospects of a reinvigorated gambling sector for the ailing US economy.
The Federal government’s non-partisan accountants, the Joint Committee on Taxation, have estimated online gambling could generate between $10 billion and $42 billion in new revenue by 2019, depending on the number of states that opt into a Federal regulatory programme.
And you can see why if you glance at the forecast numbers.
With the US nationwide unemployment rate at 10%, 48 of 50 states facing budget shortfalls and a Federal deficit approaching $1.3 trillion, the economic backdrop against which to promote regulation and taxation of internet gambling has arguably never been more favourable.
Yet those companies poised to get a real boost should America legalise online gambling, such as the impressive PartyGaming/Bwin combine, are getting excited about the future.
"We are seeing things from a legislative perspective that are quite exciting for us," says Jim Ryan, chief executive of PartyGaming, whose comments undoubtedly reflect the mood of a growing contingent of gambling operators on both sides of the Atlantic.
There has been speculation that PartyGaming and Bwin have decided to merge at this time precisely because they will be better placed than any other operator to seize a huge market share should the US decide to legalise online gambling. You only have to look at the market share that Party was able to capture by becoming one of the first operators into the online poker market back in 2001.
Analysts agree the enlarged company is in a strong position to exploit the opening up of the US market.
In a note to investors recently, the Morgan Stanley leisure analyst Vaughan Lewis said: "The overall political tide is moving firmly in favour of regulation, rather than prohibition.
"With its expertise... market-leading technology, strong marketing capability and good brands, we think the combined entity of PartyGaming and Bwin would be extremely well positioned to benefit from any market opening in the US. We include nothing in our forecasts for the US, so any new market here is pure upside."
And in a recent Barclays Capital research note, the investment bank said: "In the event of Federal regulation, we believe PartyGaming would be the likely key beneficiary.
"Under this hypothetical scenario, we estimate the potential [underlying profits] uplift could be 94% for PartyGaming and 58% for Bwin and 888. On a state-by-state hypothetical scenario, we estimate the uplift for the group would be considerably lower, but still meaningful."
Meanwhile, at the end of October analysts at Numis published a note saying there is 50% upside potential at Party when the merger with Bwin completes in March 2011. With the shares trading at around 230p at the beginning of November Numis have put a price target of 400p on the stock.
The PartyGaming/Bwin merger has got the other big companies in the sector scurrying around to do similar deals. They don't want to be left behind in what will become a gold rush should the US legalise online gaming.
888 and Sportingbet are also possible future takeover targets as the industry consolidates, but only once their legal liabilities in the US market are cleared. Serious negotiations in the PartyGaming/Bwin merger were only concluded once Party had secured a $105 million settlement with US authorities.
Analysts say a resolution would clear the way for 888 and Sportingbet to re-enter the lucrative US market should moves to overturn the 2006 legislation succeed.
Sportingbet has already acted telling shareholders at its latest results meeting that it had made a £22.8 million settlement with the US Department of Justice over an investigation into illegal internet gambling. The agreement means the firm will avoid being prosecuted in the US for accepting online bets made by Americans between 1998 and 2006.
Sportingbet would hold the most appeal to potential bidders, analysts reckon, pointing to its very strong market positioning in Australia and commenting that Ladbrokes (LAD) and William Hill (WMH) could be interested in a takeover.
Liberum Capital analyst Richard Taylor recently highlighted the strength of Sportingbet’s sports betting business, which he said had one of the best gross margins in the sector at around 10%. In addition, he said Sportingbet’s management was open to a bid, having previously stated up to 55% of their cost base could be removed.
Another former giant of the sector, now somewhat depleted thanks to the UIGEA, is 888.
Analysts say 888's attraction would be the potential for cost savings in a tie-up with a rival online gaming operator, and that Party/Bwin might be a possible buyer. What would make it attractive is that both Party and Bwin use 888 as a supplier.
However, the Shaked family who founded the company, and who control over 50% of the shares, would be looking for a price significantly above the 40p at which the company currently trades.
There have been whispers among London traders in the last few weeks that a £262 million, or 76p a share, cash bid from a much bigger industry player, possibly US entertainment giant Harrah's, which already has close business links with 888 could be on the cards.
Certainly 888 chief executive Gigi Levy has said recently that he looks at consolidation as one of the possible routes to realising shareholder value.
Another giant of the industry looking to become bigger still is the mighty Betfair. Having listed on the LSE at the end of October at 1,300p, the shares soon touched 1,600p-plus, as tracker funds piled in confident it will canter into the FTSE 250 index at the December review with a market value above £1.6 billion.
If things are hotting up at the Federal level for the online gaming industry there are also some exciting developments at state level.
So far in 2010, four states have considered whether or not to legalise some combination of online poker, casino gaming and sports betting: Iowa, Florida, California and New Jersey.
The state making most headway is New Jersey, where internet gambling has been under consideration by lawmakers since 2001. It is finally receiving serious consideration in the state Senate where two bills, which would legalise internet sports betting and casino gaming respectively, have already passed the committee stage this year.
From California to New Jersey to Florida, more state and federal congressmen are taking the reality of a legal online gambling regime a lot more seriously.
Whoever wins the race, state or federal, one thing is clear: more and more stakeholders in the US are finally coming around to understand the risks and implication of a ‘do nothing’ strategy. This is an opportunity cost and gambling companies are getting their bets on regardless.
But ongoing political deadlock clearly poses a real threat to regulatory efforts at all levels of American government. But even as gambling industry stakeholders duke it out in the halls of legislatures around the country, as well as on Capitol Hill in Washington, the very fact that the conflict between them is intensifying signals that interest and investment in pushing for online gaming regulation is rising.
With billions of dollars out there to harvest and market share to win, the entire online gaming sector looks ripe for an upturn in coming months. Investing in online gaming companies has always been a white knuckle ride - and there looks to be every sign this particular circus is once again rolling back into town.
Profiles
PartyGaming PartyCasino PartyPoker PartyBingo Bwin Betfair Centrebet SportingBet 888 World Poker Tour World Series of Poker
Harrah's Entertainment Virgin Games PKR Microgaming Playtech Media Man Casino News Media Global Gaming Directory
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Harrah's Entertainment Virgin Games PKR Microgaming Playtech Media Man Casino News Media Global Gaming Directory
Could online gaming firms be in the mix of the top stockmarket investments to make in 2011?
The listing of Betfair (BET) at the conclusion of October on a fancy multiple and the $3.3 billion megamerger between PartyGaming and Bwin (PRTY), due to complete in the first quarter of 2011, appears to have added spark to the industry of late.
Then there is the prospect, albeit slight, of the liberalisation of the US igaming market which has put the industry firmly on investors' watch list, including ours, for next year.
It is understandable, as even a snapshot look at the stockmarket gains of the world’s biggest online gaming companies between circa 2004-2006 reveals just how quickly fortunes were made and lost.
The iGaming Global Top 30 Index, an index of the stockmarket performance of the biggest 30 online gaming companies, surged 40% between July 2004 and August 2005. This was followed by 12 months of extreme volatility before sinking thanks to a controversial piece of legislation in the US.
Since 2006, online gaming’s real story has been dominated by America’s Unlawful Internet Gambling Enforcement Act (UIGEA).
The multibillion-pound global industry virtually collapsed in a heap after its biggest market - the US - was closed down overnight when Congress introduced a surprise clause to legislation in September 2006, in effect making internet betting illegal. Not only was that a blow for investors - it was a hugely expensive one.
British-based companies were among the biggest casualties.
As soon as the London Stock Exchange opened the following Monday morning, shares in PartyGaming - then a FTSE 100 member - dived by 58%, while rivals 888 Holdings (888) and Sportingbet saw their shares slide by 26% and 64% respectively, wiping an estimated £4 billion off the sector's value.
The companies were forced to focus on opportunities in other parts of the world, but the businesses have never fully recovered from the impact of losing their most lucrative market. Last year, online gambling was worth an estimated $5.4 billion (£3.5 billion) overall, a figure that could rise to $12-$16 billion if the market was opened up, analysts say.
Despite the recent loss of a sympathetic Democrat majority in Congress last month, there is renewed hope of floated gambling companies being dealt a good hand on both sides of the Pond.
The new Republican chairman of the House financial services committee is likely to be an old-style Alabaman named Spencer Bachus.
Yet he is likely to listen to the prospects of a reinvigorated gambling sector for the ailing US economy. The Federal government’s non-partisan accountants, the Joint Committee on Taxation, have estimated online gambling could generate between $10 billion and $42 billion in new revenue by 2019, depending on the number of states that opt into a federal regulatory programme.
Yet he is likely to listen to the prospects of a reinvigorated gambling sector for the ailing US economy.
The Federal government’s non-partisan accountants, the Joint Committee on Taxation, have estimated online gambling could generate between $10 billion and $42 billion in new revenue by 2019, depending on the number of states that opt into a Federal regulatory programme.
And you can see why if you glance at the forecast numbers.
With the US nationwide unemployment rate at 10%, 48 of 50 states facing budget shortfalls and a Federal deficit approaching $1.3 trillion, the economic backdrop against which to promote regulation and taxation of internet gambling has arguably never been more favourable.
Yet those companies poised to get a real boost should America legalise online gambling, such as the impressive PartyGaming/Bwin combine, are getting excited about the future.
"We are seeing things from a legislative perspective that are quite exciting for us," says Jim Ryan, chief executive of PartyGaming, whose comments undoubtedly reflect the mood of a growing contingent of gambling operators on both sides of the Atlantic.
There has been speculation that PartyGaming and Bwin have decided to merge at this time precisely because they will be better placed than any other operator to seize a huge market share should the US decide to legalise online gambling. You only have to look at the market share that Party was able to capture by becoming one of the first operators into the online poker market back in 2001.
Analysts agree the enlarged company is in a strong position to exploit the opening up of the US market.
In a note to investors recently, the Morgan Stanley leisure analyst Vaughan Lewis said: "The overall political tide is moving firmly in favour of regulation, rather than prohibition.
"With its expertise... market-leading technology, strong marketing capability and good brands, we think the combined entity of PartyGaming and Bwin would be extremely well positioned to benefit from any market opening in the US. We include nothing in our forecasts for the US, so any new market here is pure upside."
And in a recent Barclays Capital research note, the investment bank said: "In the event of Federal regulation, we believe PartyGaming would be the likely key beneficiary.
"Under this hypothetical scenario, we estimate the potential [underlying profits] uplift could be 94% for PartyGaming and 58% for Bwin and 888. On a state-by-state hypothetical scenario, we estimate the uplift for the group would be considerably lower, but still meaningful."
Meanwhile, at the end of October analysts at Numis published a note saying there is 50% upside potential at Party when the merger with Bwin completes in March 2011. With the shares trading at around 230p at the beginning of November Numis have put a price target of 400p on the stock.
The PartyGaming/Bwin merger has got the other big companies in the sector scurrying around to do similar deals. They don't want to be left behind in what will become a gold rush should the US legalise online gaming.
888 and Sportingbet are also possible future takeover targets as the industry consolidates, but only once their legal liabilities in the US market are cleared. Serious negotiations in the PartyGaming/Bwin merger were only concluded once Party had secured a $105 million settlement with US authorities.
Analysts say a resolution would clear the way for 888 and Sportingbet to re-enter the lucrative US market should moves to overturn the 2006 legislation succeed.
Sportingbet has already acted telling shareholders at its latest results meeting that it had made a £22.8 million settlement with the US Department of Justice over an investigation into illegal internet gambling. The agreement means the firm will avoid being prosecuted in the US for accepting online bets made by Americans between 1998 and 2006.
Sportingbet would hold the most appeal to potential bidders, analysts reckon, pointing to its very strong market positioning in Australia and commenting that Ladbrokes (LAD) and William Hill (WMH) could be interested in a takeover.
Liberum Capital analyst Richard Taylor recently highlighted the strength of Sportingbet’s sports betting business, which he said had one of the best gross margins in the sector at around 10%. In addition, he said Sportingbet’s management was open to a bid, having previously stated up to 55% of their cost base could be removed.
Another former giant of the sector, now somewhat depleted thanks to the UIGEA, is 888.
Analysts say 888's attraction would be the potential for cost savings in a tie-up with a rival online gaming operator, and that Party/Bwin might be a possible buyer. What would make it attractive is that both Party and Bwin use 888 as a supplier.
However, the Shaked family who founded the company, and who control over 50% of the shares, would be looking for a price significantly above the 40p at which the company currently trades.
There have been whispers among London traders in the last few weeks that a £262 million, or 76p a share, cash bid from a much bigger industry player, possibly US entertainment giant Harrah's, which already has close business links with 888 could be on the cards.
Certainly 888 chief executive Gigi Levy has said recently that he looks at consolidation as one of the possible routes to realising shareholder value.
Another giant of the industry looking to become bigger still is the mighty Betfair. Having listed on the LSE at the end of October at 1,300p, the shares soon touched 1,600p-plus, as tracker funds piled in confident it will canter into the FTSE 250 index at the December review with a market value above £1.6 billion.
If things are hotting up at the Federal level for the online gaming industry there are also some exciting developments at state level.
So far in 2010, four states have considered whether or not to legalise some combination of online poker, casino gaming and sports betting: Iowa, Florida, California and New Jersey.
The state making most headway is New Jersey, where internet gambling has been under consideration by lawmakers since 2001. It is finally receiving serious consideration in the state Senate where two bills, which would legalise internet sports betting and casino gaming respectively, have already passed the committee stage this year.
From California to New Jersey to Florida, more state and federal congressmen are taking the reality of a legal online gambling regime a lot more seriously.
Whoever wins the race, state or federal, one thing is clear: more and more stakeholders in the US are finally coming around to understand the risks and implication of a ‘do nothing’ strategy. This is an opportunity cost and gambling companies are getting their bets on regardless.
But ongoing political deadlock clearly poses a real threat to regulatory efforts at all levels of American government. But even as gambling industry stakeholders duke it out in the halls of legislatures around the country, as well as on Capitol Hill in Washington, the very fact that the conflict between them is intensifying signals that interest and investment in pushing for online gaming regulation is rising.
With billions of dollars out there to harvest and market share to win, the entire online gaming sector looks ripe for an upturn in coming months. Investing in online gaming companies has always been a white knuckle ride - and there looks to be every sign this particular circus is once again rolling back into town.
Profiles
PartyGaming PartyCasino PartyPoker PartyBingo Bwin Betfair Centrebet SportingBet 888 World Poker Tour World Series of Poker
Harrah's Entertainment Virgin Games PKR Microgaming Playtech Media Man Casino News Media Global Gaming Directory
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Thursday, November 25, 2010
Australian Charity Worker Gambling Addict Stole 1 Million + by Greg Tingle - 25th November 2010
Readers, punters, politicians, casino millionaires, billionaires, sports nuts, one and all. Problem gambling continues to hit the news headlines down under in Australia. We look at a situation where a Queensland based charity worker stole 1.5 million dollars to feed their habit. As a public service and in the spirit of being fair and balanced in our coverage of gaming and gambling we offer the facts Media Man and Gambling911 with the news you need to know, not necessarily what you want to hear...
More safeguards to protect consumers from the danger of being a gambling addict are likely required down under in Australia, if the recent trend of gambling over one's head continues.
Gambling is supposed to be an enjoyable activity, that provides entertainment, excitement, and a change to win big, but for an ever increasing amount of people it is bringing misery and negatives for their friends, associates and society.
This publication likes the idea of having a punt, but it needs to stay enjoyable. Please hear us dear readers.
An charity worker in Queensland nicked more than $1.5 million from a charity so he could feed his gambling addiction, a court heard.
Dinesh Enoka Abeysuriya, 29, stole the money over a 1 year duration from March 2009 while working in the finance department of Uniting Care Queensland, which was trading as Blue Care at the time.
The Brisbane District Court on Wednesday heard that Abeysuriya abused his position with the health-care charity to falsely inflate invoices, thus committing fraud and theft, from suppliers so he could skim large sums of money.
He also went on to process a number of invoices twice, legitimately paying the first lot to the supplier, making things look like business as usual, and pocketing the duplicated amount to feed his habit.
Prosecutor Jacob Robson advised by the time Abeysuriya's fraud was discovered he had stolen $1.53 million from the charity. That may be some kind of record in Australia.
The court was told Abeysuriya spent the money on internet sports gambling, his favorite, which also saw him overdraw his very own credit card by about $223,000.
Abeysuriya pleaded guilty on Wednesday to one count of aggravated fraud as an employee and one count of aggravated fraud.
He was remanded in custody until next week, when he will be sentenced.
The court was told he will return home to his native Sri Lanka after serving his sentence.
Other than charity workers, other type of occupations in Australia which reports conclude to have more problem gamblers than the average include people who work in casinos or places where one can gamble and professional sports people, usually NRL, AFL or cricket players Sports betting does involve some skill, such as knowing form, having inside tips and the like, but its a gamble none the less, where the outcome is unknown, and don't even get us started on sports betting scandals where some outcomes are understood to be fixed or "rigged". Life is a gamble, but don't take risks that you can not afford to lose.
Internet gambling - sports betting, poker, bingo and slots are all growth areas of e-commerce and gambling that continue to enjoy strong growth in Australia.
If gambling is becoming a problem for you please seek assistance.
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Wrap Up...
Readers... er, punters, how did you like our report? Do you think you or a friend might have a problem with gambling? Tell us in the forum.
If you have a bet, please bet with your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
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More safeguards to protect consumers from the danger of being a gambling addict are likely required down under in Australia, if the recent trend of gambling over one's head continues.
Gambling is supposed to be an enjoyable activity, that provides entertainment, excitement, and a change to win big, but for an ever increasing amount of people it is bringing misery and negatives for their friends, associates and society.
This publication likes the idea of having a punt, but it needs to stay enjoyable. Please hear us dear readers.
An charity worker in Queensland nicked more than $1.5 million from a charity so he could feed his gambling addiction, a court heard.
Dinesh Enoka Abeysuriya, 29, stole the money over a 1 year duration from March 2009 while working in the finance department of Uniting Care Queensland, which was trading as Blue Care at the time.
The Brisbane District Court on Wednesday heard that Abeysuriya abused his position with the health-care charity to falsely inflate invoices, thus committing fraud and theft, from suppliers so he could skim large sums of money.
He also went on to process a number of invoices twice, legitimately paying the first lot to the supplier, making things look like business as usual, and pocketing the duplicated amount to feed his habit.
Prosecutor Jacob Robson advised by the time Abeysuriya's fraud was discovered he had stolen $1.53 million from the charity. That may be some kind of record in Australia.
The court was told Abeysuriya spent the money on internet sports gambling, his favorite, which also saw him overdraw his very own credit card by about $223,000.
Abeysuriya pleaded guilty on Wednesday to one count of aggravated fraud as an employee and one count of aggravated fraud.
He was remanded in custody until next week, when he will be sentenced.
The court was told he will return home to his native Sri Lanka after serving his sentence.
Other than charity workers, other type of occupations in Australia which reports conclude to have more problem gamblers than the average include people who work in casinos or places where one can gamble and professional sports people, usually NRL, AFL or cricket players Sports betting does involve some skill, such as knowing form, having inside tips and the like, but its a gamble none the less, where the outcome is unknown, and don't even get us started on sports betting scandals where some outcomes are understood to be fixed or "rigged". Life is a gamble, but don't take risks that you can not afford to lose.
Internet gambling - sports betting, poker, bingo and slots are all growth areas of e-commerce and gambling that continue to enjoy strong growth in Australia.
If gambling is becoming a problem for you please seek assistance.
Media Man Profiles
Australia
Australia Casinos
Sports Betting
Betting
Australian Sports
News
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Readers... er, punters, how did you like our report? Do you think you or a friend might have a problem with gambling? Tell us in the forum.
If you have a bet, please bet with your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
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Wednesday, November 24, 2010
AFL Star David Schwarz: Gambling, Mafia Warnings, by Greg Tingle - 24th November 2010
Readers, punters, politicians, casino millionaires, billionaires, sports nuts, one and all. We know that only a small percentage of people develop a gambling problem, where it starts to become a real problem and negative in their lives. As a public service and in the spirit of being fair and balanced in our coverage of gaming and gambling we offer the story on an Aussie sporting champion who survived his problem, and today he shares it with us. Media Man and Gambling911 with the news you need to know, not necessarily what you want to hear...
AFL footy star David Schwarz knows what it's like to battle with a gambling addiction.
His addition has been compared to the one that Brendan "Punter Fev" Fevola once was known for.
He gambled the better part of $4 million bucks over a decade while playing with the Melbourne Demons AFL team between 1991 and 2001.
In a revealing and candid speech at a gambler's help launch at Victoria's Latrobe Community Health Service last Monday, Schwarz disclosed he made it out of his gambling addition only because of the help of other people.
Schwarz lived in Morwell and Traralgon as a child before moving to Beechworth and then Sunbury.
He's good memories of growing up are overshadowed by bad. When he was 8 years old he said he saw his father shot dead in front of him, leaving the family with gambling debts of almost $40,000, then the value of 3 houses in the town.
When he was 14 he placed his first bet and scored a winner, pocketing about $50.
Schwarz said when he told his mother how he got the money he "saw the fear in her eyes straight away".
The only days of the year he didn't gamble were Christmas Day and Good Friday, because the betting companies were closed.
When the AFL hit the "boom time" in the 1990s Schwarz said his income jumped from about $30,000 a year to $1.28 million for a 4 year deal.
"Most people would think 'I can set myself up for life here', I thought 'I can do some damage at the track'," Schwarz said.
His gambling spiralled out of control and the rising footy star blew his earnings and the equity on his Camberwell home, and his personal and work relationships began to suffer greatly.
"I was hanging out with d**kheads in the Mafia...all of a sudden I'm the person who's letting my team down...no one trusts me," he said.
"(But) I don't care, I'm punting, that's my life."
He told the group that punters made selfish choices and lied to family and friends.
Schwarz said he didn't believe the gaming industry was "evil", but some punters were vulnerable to becoming problem gamblers and those people needed to be protected.
Average electronic gaming machine expenditure in the Latrobe Valley is about $4 million a month. You read correctly.
Latrobe Community Health community support executive director Anne-Maree Kaser said the Venue Support Workers program helped gaming venue staff identify and respond to people showing signs of problem gambling behaviours.
Two Venue Support Workers are now in Gippsland working with gaming venues and gambler's help organisations to support responsible gambling practices and environments.
Hat's off to Schwarz, gaming companies and community support groups doing the right thing.
If gambling is becoming a problem for you please seek assistance.
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Readers... er, punters, how did you like our report? Do you think you or a friend might have a problem with gambling? Tell us in the forum.
If you have a bet, please bet with your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
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AFL footy star David Schwarz knows what it's like to battle with a gambling addiction.
His addition has been compared to the one that Brendan "Punter Fev" Fevola once was known for.
He gambled the better part of $4 million bucks over a decade while playing with the Melbourne Demons AFL team between 1991 and 2001.
In a revealing and candid speech at a gambler's help launch at Victoria's Latrobe Community Health Service last Monday, Schwarz disclosed he made it out of his gambling addition only because of the help of other people.
Schwarz lived in Morwell and Traralgon as a child before moving to Beechworth and then Sunbury.
He's good memories of growing up are overshadowed by bad. When he was 8 years old he said he saw his father shot dead in front of him, leaving the family with gambling debts of almost $40,000, then the value of 3 houses in the town.
When he was 14 he placed his first bet and scored a winner, pocketing about $50.
Schwarz said when he told his mother how he got the money he "saw the fear in her eyes straight away".
The only days of the year he didn't gamble were Christmas Day and Good Friday, because the betting companies were closed.
When the AFL hit the "boom time" in the 1990s Schwarz said his income jumped from about $30,000 a year to $1.28 million for a 4 year deal.
"Most people would think 'I can set myself up for life here', I thought 'I can do some damage at the track'," Schwarz said.
His gambling spiralled out of control and the rising footy star blew his earnings and the equity on his Camberwell home, and his personal and work relationships began to suffer greatly.
"I was hanging out with d**kheads in the Mafia...all of a sudden I'm the person who's letting my team down...no one trusts me," he said.
"(But) I don't care, I'm punting, that's my life."
He told the group that punters made selfish choices and lied to family and friends.
Schwarz said he didn't believe the gaming industry was "evil", but some punters were vulnerable to becoming problem gamblers and those people needed to be protected.
Average electronic gaming machine expenditure in the Latrobe Valley is about $4 million a month. You read correctly.
Latrobe Community Health community support executive director Anne-Maree Kaser said the Venue Support Workers program helped gaming venue staff identify and respond to people showing signs of problem gambling behaviours.
Two Venue Support Workers are now in Gippsland working with gaming venues and gambler's help organisations to support responsible gambling practices and environments.
Hat's off to Schwarz, gaming companies and community support groups doing the right thing.
If gambling is becoming a problem for you please seek assistance.
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Betting
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Wrap Up...
Readers... er, punters, how did you like our report? Do you think you or a friend might have a problem with gambling? Tell us in the forum.
If you have a bet, please bet with your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
Website Network
Media Man International
Media Man
Media Man Australia
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Australian Gambling And Entertainment News, by Greg Tingle - 24th November 2010
Welcome to another jam packed news update from down under in Australia. We're got pro casino and gaming VS the haters, news media players, politic, entertainment goss and lots more. Media Man and Gambling911 take bring you the best in Aussie gambling and entertainment news. Lights, camera, action...
Biggest Police Raid In Victorian History; Gambling And Pokies Connection; Real Life Underbelly...
34 people, mainly Aussies and some Chinese and Taiwani are locked up after the biggest drug operation in Victoria's history sent 650 police storming into scores of properties allegedly linked to a $400 million cannabis-farms syndicate. Police raided 68 properties all allegedly connected to a cannabis cartel producing indoor hydroponic crops – each worth $80,000. Deputy Commissioner Sir Ken Jones revealed the raids would have happened sooner but US Secretary of State Hillary Clinton's visit to Melbourne had diverted too many resources. But Sir Ken said suggestions the raids had been timed to benefit the State Government days before the election were "absolute rubbish". "We're not going to threaten our operations to suit any political cycle," he said. Today's raids are part of a long-term police investigation codenamed Entity.
Many of the properties raided today were used as hydroponic "farms’’. As part of the investigation police have previously raided 50 properties in Victoria and New Zealand, seizing more than $20 million in assets. The investigation involves Victoria Police, Australian Federal Police, customs, tax and immigration officials. Investigators say the main targets are members of the Vietnamese community. Police say some of the funds reaped from the marijuana crops have been used to buy heroin in Vietnam, which has been imported into Australia. Detective Superintendent Gerry Ryan said early reports were the operation was going well. Police have long maintained there is a direct link between Vietnamese syndicates trafficking in both cannabis and heroin. Police have identified seven major heroin syndicates, which have recruited more than 100 Melbourne-based couriers. Police were ready to raid the houses two weeks ago, however the operation had to be delayed because of US Secretary of State Hillary Ms Clinton's visit. Drug Taskforce investigators say the syndicates target members of the Vietnamese community with gambling debts who are susceptible to pressure from loan sharks. Department of Foreign Affairs and Trade figures show 25 Australian nationals are in Vietnamese jails on drug charges. Since 2003, seven Australians sentenced to death in Vietnam have had their penalty commuted after pleas for clemency from the Australian Government. A police taskforce of drug taskforce detectives, Customs and Border Protection officers, the Australian Crime Commission and Australian Federal Police has been set up to investigate the syndicates. Operation Ripsaw has resulted in the arrest of more than 30 suspects in Australia and Vietnam in the past two years. In August police seized commercial and residential properties valued at $20 million they allege had been purchased through laundered funds made by the syndicates through heroin trafficking. More than 20 suspects have been arrested and $3 million in cash seized during the raids in Fitzroy, Brunswick, St Albans, Maribyrnong, Footscray, Sunshine and Collingwood. Detectives say heroin couriers fly into Melbourne from Vietnam every week and some have made several trips.
They have identified one female syndicate leader in her 30s, who bet $3.7 million at Crown Casino in six months and regularly wagered $50,000 a hand. Another key figure bet $12 million in Australian casinos in just over five years. Couriers are paid up to $24,000 to import four 70-gram heroin pellets (80 percent pure). Syndicates can net more than $700,000 from the drugs sold on Melbourne streets. On June 4, 2006, Australian Federal Police arrested Vietnam Airlines pilot Van Dang Tranas at Sydney International Airport with more than $540,000 concealed in his cabin luggage. The Australian Crime Commission money-laundering Taskforce Gordian found that he had smuggled $6.5 million out of Australia in less than 12 months. He pleaded guilty and in 2007 was sentenced to a minimum of two years' jail. It is alleged that crime syndicates used the Long Thanh Money Transfer Company in Footscray to launder more than $93 million.
Shane Warne Has Nerves About New TV Show...
Warne has he and Aussie gambling and media king, James Packer, were nervous before his interview before new show, Warnie. The interview is Packer's first one-on-one TV interview in 20 years and a real coup for Warne. Speaking at Channel 9's Ashes launch this week, Warne said the two had been friends for two decades, which contributed to the nerves. "Not many people know James Packer that well," he said. "He is a wonderful guy. He's been a good friend to me for 20 years." Warne's interview subjects for his new show include Dannii Minogue, Coldplay's Chris Martin and Sting. He said he just tried to be himself when interviewing the big names. "I think the one thing about this show is, when I'm doing the interview, I'm not one of those guys who ask those silly questions about the past and that sort of crap. "I want to know how you spend your life away from this, how you relax and have a bit of a laugh. "I think people will see a good side to so many different people." Joining Warne on the show is his old mate Merv Hughes, who will be a reporter on the street, and Nine's rising star in the world of news, Today reporter Alicia Gorey. The first episode of Warnie airs on Wednesday - that's tonight on Channel 9, of course! Ok, it could of been Network Ten, but 10 out of 10 for 9, for putting this show together.
Poker Machined Banned From Shopping Centre...
Electronic gaming machines have been banned from the Mansfield strip shopping centre. The amendment to the Mansfield Planning Scheme banning the machines has been approved by the Victorian Department of Planning and Community Development. A survey conducted by the shire found 87 per cent of respondents did not want gaming machines in the Mansfield Shopping Centre. The CEO of Mansfield Shire, David Roff, says the shire's research shows the amendment is in line with community beliefs. "Effectively, what the amendment does is it identifies the Mansfield strip shopping centre as an area where gaming machines are prohibited but it recognises that gaming is a legitimate activity but for areas not so close to the centre of town," he said.
Candidates’ Each Way Bet On Casino; Says National Party...
All of the data used by Mildura accounting academic Larry O’Connor in his report Gambling With Mildura’s Future was sourced from publicly available information material. “The pro-casino Independent candidate claims that I used statistics from Mr O’Connor’s report in the week before it was released,” says Member for Mildura Peter Crisp. “Actually, I’ve been using facts and figures on casino operations for much longer, because they’ve been available in documents produced by the Productivity Commission and in a report produced for the Australasian Casino Association by the Allen Consulting Group. “For example, I said via a news release on October 26 that: “More than 80% of customers of casinos in Australia are drawn from the city/state in which the casino is located, according to a 2009 report to the Australasian Casino Association by the Allen Consulting Group”. “I was making the point that a casino would drag patrons away from local community-owned clubs, which I reiterated throughout the campaign. “The Workers Club made the same point in a full-page advertisement in the Sunraysia Daily in early November. “Had the pro-casino Independent candidate done even a scrap of research he would know that a casino in Mildura would bankrupt a number of existing community-owned clubs.
Murdoch Media Power; Sarah Murdoch Fires Production Company After Model Mistake...
If you stuff up big time at work, the firm you work for decide to sack you: that's how it usually works. Not if you're Sarah Murdoch, part of the powerful media family dynasty it doesn't. If you're Sarah Murdoch, you fire the company. Foxtel, which is partially owned by the Murdoch family, had, at her insistence, dumped Granada Media Australia, the production company behind the past 6 series of Australia's Next Top Model...which Murdoch presents and executive-produces...to slide in with a new production company for the show's 11th series. Media Man has been hitting the phones... AAP, Fairfax Media, News Limited, and this amazing news is confirmed. Exactly what new production company will get the gig now open is not known at this time, but the favourite was Shine, which is owned by sister-in-law Elisabeth Murdoch. When called Granada, where a spokesperson couldn't confirm that it had lost the show. Calls were also placed to to Foxtel, explaining the nature of the enquiry, but no one called back. Then Murdoch went on record, confirming the change in production company and gave the following: "Granada produced Australia's Top Model for six years. I worked with them for two years. They are a very talented and hard working crew. But after what happened this year I thought very hard about it and decided it was probably time for a change." The readerership might recall that on the final live episode of the show, Murdoch momentarily panicked after a breakdown in communication with the backstage production team, and announced the wrong model as the series winner. It was a simple, embarrassing and pretty exciting misunderstanding that had everyone in a bit of a fluster, but also generated extra publicity. Murdoch is understood to be a driving force to firing Granada. So Sarah's stirred up things, and husband Lachlan now involved with Network Ten, Elisabeth at Shine and old man Rupert still plugging away, there's a Murdoch's everywhere. We expect James Packer to enjoy much smoother sailing with his Lachlan Murdoch and Network Nine dealings, and even Shane Warne wouldn't likely get a gaffe as rough as this one.
'Grandfather' Of Australian Paparazzi Peter Carrette Dies At 63...
Good friend of Bondi Beach's Media Man, Peter Carrette, and friend to many, died on the weekend we are sad to report. Veteran paparazzo Peter Carrette, who infamously fired a water pistol at Heath Ledger, has died in his Bondi Beach office. The man dubbed the "grandfather of Australian paparazzi" was discovered by a friend slumped at his desk at his home at Bondi Beach in Sydney's eastern suburbs. "They found him this morning - he was still at his computer," said his friend of 11 years, journalist Natalie O'Brien. The 63-year-old Carrette had worked around the world, including Paris and New York, and is survived by a son and a daughter. "He was just a beautiful guy," O'Brien told AAP. "In a dog-eat-dog world, he was a very kind man." Asked about the key to his success and long career, O'Brien said: "He knew everybody and everybody trusted him. They would come to him with information and he did the right thing by people. Everyone who knew him loved him."
Man Man Tribute To Peter...
RIP Peter Carrette. Peter, you were an angel among us. I feel blessed to have known you. Glad we caught up at the Bondi Beach Sea Shepherd on Friday. It was strange how we first met at Kerry Packer's funeral in 2005, at the Sydney Opera House, on a day which was more a celebration of life, rather than a focus on his death. When I moved to Bondi Beach in 2008 our friendship blossomed, and you were always an attentive ear, and a wonderful source of information and humor. Your Packer and nightlife stories were fantastic and music to my years. Being able to make modest donations to your orphanage in Cambodia was and always will occupy a special place in my heart and memory, as it will for our dear friend, Eva, who also just loved your presence, generosity of heart and sprit, and your photos of course. Eva and I just loved the gifts we got from you at the beach on the weekend, having been sent over from your orphanage in Cambodia. Your Tony Abbott costume you wore to the Sea Shepherd No Compromise! event on Friday night was a classic, just as you were. Knowing you enriched my life, and that of so many of my friends and acquaintances. You were one of the Australian media's great guys, and I think you knew that I saw you as a bit of a father figure or uncle also, even though I never said those words. You were smart enough to know. The visits to the "best office in the world' at the pad at Bondi Beach were also a fun and memorable experience. Your beautify energy, passion and warmth will always be remembered. You made me, and others, probably look so much better than we actually were, thanks to your artistic and creative gifts. Your colorful shoes will be hard to fill. Always in my mind, and whenever I walk down the hill to the beach I will continue to think of you fondly. You were way too good, in too many ways, to only be remembered as a great photographer. You were a wonderful human being. Another legend has been lost, but will never be forgotten
Greg Tingle, Founder and Director, Media Man
Australian Media and Photographer Legend Dies, by Greg Tingle
One of Australia's most colorful and successful photographers Peter Carrette has died of a heart attack this past weekend. Regarded as one of the good guys in the pap and photography biz, London born Carrette first came to prominence when he photographed a sick Marianne Faithful in a drug coma in her hospital bed circa 1969. Faithful had tripped to Australia with musician Mick Jagger who was to star in a film about Ned Kelly. She had over-dosed after, it was claimed in the British press, she had discovered Jagger in bed as it were, with another woman. Carrette donned a white doctor's coat and stethoscope and sneaked into Faithful's room, snapped the photo that was flashed around the world as one of the first examples of intrusive photography. Earlier this year when Faithful was in town for the Sydney Festival, she advised new media outlet 'The Shuttle' she'd still like to give the snapper a "quick boot in the backside". However she later revealed she had forgiven him. After a stint of studying photography in London, Carrette traveled to Sydney and picked up gig as Sir Frank Packer's copy boy when the media baron owned Daily Mirror newspaper. Once established he worked for various publications photographing news. He ambushed the US invasion of Grenada by hiring a smuggler's boat while the world's news media waited for official transport in downtown Barbados. He also did well in New York for 6 years and photographed for leading fashion title Vogue in Paris for 2 years. A few years back here in Sydney he and another pap squirted the actor Heath Ledger with water pistols at a Sydney film premiere. The images of a startled and wet Ledger was flashed around the world. He was ever so briefly banned by film companies from movie premieres and the like, but later made peace with Ledger shortly before he died in New York. Carrette also supported an orphanage in Cambodia by donating the fees received from his exclusive candid photos of celebrities often taken around Bondi Beach. He ran his own studio and photo biz from a Bondi Beach flat, "The greatest office in the world" he said, where he had lived for the past 20 years. The flat is owned by his good mate, Jack Thompson. Carrette was well liked in the industry, a keen philanthropist, and gave a lot back to the industry. He attended the Sea Shepherd Bondi No Compromise! event at the beach on Friday night at the invitation of Media Man, who has collaborated closely with Peter over the past 3 years, usually at Bondi Beach and often on community based projects. It's understood he passed away on Sunday evening from heart failure while working at his computer.
James Packer Likely Inspired Australia's Richest Woman Share Raid On Network Ten...
It all happened at the event to celebrate Alan Jones's 25 years in radio. Gina Rinehart witnesses history, and decided to play a big part in it. Australia's richest woman was in the mix of the 1100 media and political in crowd who gathered at Sydney's Darling Harbour on November 5 to toast Jones and witness tributes from the likes of former prime minister John Howard, Liberal powerbroker Michael Kroger, opposition Treasury spokesman Joe Hockey, NSW Premier Kristina Keneally and British conservative icon Jeffrey Archer. An emotional address from gaming and media mogul James Packer clearly made an impression. In a rare public display, Packer opened up about Jones. "Alan, no one will ever take your place," he said. "You are without peer, my friend." Packer had just raised his already considerable public profile by grabbing 18% of Ten Network Holdings in a shock sharemarket raid. Here was confirmation he was back in town after some moments of severe doubt during the global financial crisis. Rinehart was paying attention. It is understood the mining heiress wrote to her fellow billionaire afterwards, congratulating him on his speech, expressing her support for Jones and wishing Packer luck with his $280 million Ten investment. Within days, traders noticed that Morgan Stanley Smith Barney...a retail brokerage that accounts for less than 1% of Ten trading on an average day...was responsible for a whopping 24.3% of turnover. That was November 10. The brokerage continued to soak up stock in the following days. Seek co-founder Paul Bassat, adman John Singleton and media company News Limited (publisher of The Australian) were all rumoured to be behind the trades. But this week the mystery buyer was revealed as power woman Rinehart. Nobody could have guessed, except perhaps Packer, who received another letter from Rinehart yesterday, telling him she had spent more than $150m on 10 per cent of Ten. Without being too specific, Rinehart indicated broad support for the Ten shake-up and said she liked the look of the new board. Here was confirmation that Georgina Hope Rinehart was not content to confine her $4.5 billion fortune to the mining sector. Rinehart is said to resent the description "mining heiress", believing she deserves credit for building on her father's legacy. She also does not want to be remembered as the person who took Porteous to court. Some associates believe she wants to make her mark on a bigger stage, much as fellow iron ore magnate Andrew "Twiggy" Forrest has in championing the cause of indigenous Australians in recent years. She hinted at issues of national interest in the short statement released on late Monday. "Our company group is interested in making an investment towards the media business, given its importance to the nation's future, and has selected Channel 10 for this investment," it said. So notions of legacy and influence perhaps explain why Rinehart jumped on the truck to help lead the big crowd in a chant of "axe the tax". She used a megaphone to do it that day. Others have found owning part of a media company is another way to open doors in Canberra. Media Man will be following up the fun, games and media power plays of Australia's Richest women and think she might be the source of more major news for media friends and partners across the global, especially for the good folks at the always hard hitting and switched on Gambling911.
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Wrap Up...
Readers... er, punters, how did you like our report? Tell us in the forum.
If you have a bet, please bet with your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
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Biggest Police Raid In Victorian History; Gambling And Pokies Connection; Real Life Underbelly...
34 people, mainly Aussies and some Chinese and Taiwani are locked up after the biggest drug operation in Victoria's history sent 650 police storming into scores of properties allegedly linked to a $400 million cannabis-farms syndicate. Police raided 68 properties all allegedly connected to a cannabis cartel producing indoor hydroponic crops – each worth $80,000. Deputy Commissioner Sir Ken Jones revealed the raids would have happened sooner but US Secretary of State Hillary Clinton's visit to Melbourne had diverted too many resources. But Sir Ken said suggestions the raids had been timed to benefit the State Government days before the election were "absolute rubbish". "We're not going to threaten our operations to suit any political cycle," he said. Today's raids are part of a long-term police investigation codenamed Entity.
Many of the properties raided today were used as hydroponic "farms’’. As part of the investigation police have previously raided 50 properties in Victoria and New Zealand, seizing more than $20 million in assets. The investigation involves Victoria Police, Australian Federal Police, customs, tax and immigration officials. Investigators say the main targets are members of the Vietnamese community. Police say some of the funds reaped from the marijuana crops have been used to buy heroin in Vietnam, which has been imported into Australia. Detective Superintendent Gerry Ryan said early reports were the operation was going well. Police have long maintained there is a direct link between Vietnamese syndicates trafficking in both cannabis and heroin. Police have identified seven major heroin syndicates, which have recruited more than 100 Melbourne-based couriers. Police were ready to raid the houses two weeks ago, however the operation had to be delayed because of US Secretary of State Hillary Ms Clinton's visit. Drug Taskforce investigators say the syndicates target members of the Vietnamese community with gambling debts who are susceptible to pressure from loan sharks. Department of Foreign Affairs and Trade figures show 25 Australian nationals are in Vietnamese jails on drug charges. Since 2003, seven Australians sentenced to death in Vietnam have had their penalty commuted after pleas for clemency from the Australian Government. A police taskforce of drug taskforce detectives, Customs and Border Protection officers, the Australian Crime Commission and Australian Federal Police has been set up to investigate the syndicates. Operation Ripsaw has resulted in the arrest of more than 30 suspects in Australia and Vietnam in the past two years. In August police seized commercial and residential properties valued at $20 million they allege had been purchased through laundered funds made by the syndicates through heroin trafficking. More than 20 suspects have been arrested and $3 million in cash seized during the raids in Fitzroy, Brunswick, St Albans, Maribyrnong, Footscray, Sunshine and Collingwood. Detectives say heroin couriers fly into Melbourne from Vietnam every week and some have made several trips.
They have identified one female syndicate leader in her 30s, who bet $3.7 million at Crown Casino in six months and regularly wagered $50,000 a hand. Another key figure bet $12 million in Australian casinos in just over five years. Couriers are paid up to $24,000 to import four 70-gram heroin pellets (80 percent pure). Syndicates can net more than $700,000 from the drugs sold on Melbourne streets. On June 4, 2006, Australian Federal Police arrested Vietnam Airlines pilot Van Dang Tranas at Sydney International Airport with more than $540,000 concealed in his cabin luggage. The Australian Crime Commission money-laundering Taskforce Gordian found that he had smuggled $6.5 million out of Australia in less than 12 months. He pleaded guilty and in 2007 was sentenced to a minimum of two years' jail. It is alleged that crime syndicates used the Long Thanh Money Transfer Company in Footscray to launder more than $93 million.
Shane Warne Has Nerves About New TV Show...
Warne has he and Aussie gambling and media king, James Packer, were nervous before his interview before new show, Warnie. The interview is Packer's first one-on-one TV interview in 20 years and a real coup for Warne. Speaking at Channel 9's Ashes launch this week, Warne said the two had been friends for two decades, which contributed to the nerves. "Not many people know James Packer that well," he said. "He is a wonderful guy. He's been a good friend to me for 20 years." Warne's interview subjects for his new show include Dannii Minogue, Coldplay's Chris Martin and Sting. He said he just tried to be himself when interviewing the big names. "I think the one thing about this show is, when I'm doing the interview, I'm not one of those guys who ask those silly questions about the past and that sort of crap. "I want to know how you spend your life away from this, how you relax and have a bit of a laugh. "I think people will see a good side to so many different people." Joining Warne on the show is his old mate Merv Hughes, who will be a reporter on the street, and Nine's rising star in the world of news, Today reporter Alicia Gorey. The first episode of Warnie airs on Wednesday - that's tonight on Channel 9, of course! Ok, it could of been Network Ten, but 10 out of 10 for 9, for putting this show together.
Poker Machined Banned From Shopping Centre...
Electronic gaming machines have been banned from the Mansfield strip shopping centre. The amendment to the Mansfield Planning Scheme banning the machines has been approved by the Victorian Department of Planning and Community Development. A survey conducted by the shire found 87 per cent of respondents did not want gaming machines in the Mansfield Shopping Centre. The CEO of Mansfield Shire, David Roff, says the shire's research shows the amendment is in line with community beliefs. "Effectively, what the amendment does is it identifies the Mansfield strip shopping centre as an area where gaming machines are prohibited but it recognises that gaming is a legitimate activity but for areas not so close to the centre of town," he said.
Candidates’ Each Way Bet On Casino; Says National Party...
All of the data used by Mildura accounting academic Larry O’Connor in his report Gambling With Mildura’s Future was sourced from publicly available information material. “The pro-casino Independent candidate claims that I used statistics from Mr O’Connor’s report in the week before it was released,” says Member for Mildura Peter Crisp. “Actually, I’ve been using facts and figures on casino operations for much longer, because they’ve been available in documents produced by the Productivity Commission and in a report produced for the Australasian Casino Association by the Allen Consulting Group. “For example, I said via a news release on October 26 that: “More than 80% of customers of casinos in Australia are drawn from the city/state in which the casino is located, according to a 2009 report to the Australasian Casino Association by the Allen Consulting Group”. “I was making the point that a casino would drag patrons away from local community-owned clubs, which I reiterated throughout the campaign. “The Workers Club made the same point in a full-page advertisement in the Sunraysia Daily in early November. “Had the pro-casino Independent candidate done even a scrap of research he would know that a casino in Mildura would bankrupt a number of existing community-owned clubs.
Murdoch Media Power; Sarah Murdoch Fires Production Company After Model Mistake...
If you stuff up big time at work, the firm you work for decide to sack you: that's how it usually works. Not if you're Sarah Murdoch, part of the powerful media family dynasty it doesn't. If you're Sarah Murdoch, you fire the company. Foxtel, which is partially owned by the Murdoch family, had, at her insistence, dumped Granada Media Australia, the production company behind the past 6 series of Australia's Next Top Model...which Murdoch presents and executive-produces...to slide in with a new production company for the show's 11th series. Media Man has been hitting the phones... AAP, Fairfax Media, News Limited, and this amazing news is confirmed. Exactly what new production company will get the gig now open is not known at this time, but the favourite was Shine, which is owned by sister-in-law Elisabeth Murdoch. When called Granada, where a spokesperson couldn't confirm that it had lost the show. Calls were also placed to to Foxtel, explaining the nature of the enquiry, but no one called back. Then Murdoch went on record, confirming the change in production company and gave the following: "Granada produced Australia's Top Model for six years. I worked with them for two years. They are a very talented and hard working crew. But after what happened this year I thought very hard about it and decided it was probably time for a change." The readerership might recall that on the final live episode of the show, Murdoch momentarily panicked after a breakdown in communication with the backstage production team, and announced the wrong model as the series winner. It was a simple, embarrassing and pretty exciting misunderstanding that had everyone in a bit of a fluster, but also generated extra publicity. Murdoch is understood to be a driving force to firing Granada. So Sarah's stirred up things, and husband Lachlan now involved with Network Ten, Elisabeth at Shine and old man Rupert still plugging away, there's a Murdoch's everywhere. We expect James Packer to enjoy much smoother sailing with his Lachlan Murdoch and Network Nine dealings, and even Shane Warne wouldn't likely get a gaffe as rough as this one.
'Grandfather' Of Australian Paparazzi Peter Carrette Dies At 63...
Good friend of Bondi Beach's Media Man, Peter Carrette, and friend to many, died on the weekend we are sad to report. Veteran paparazzo Peter Carrette, who infamously fired a water pistol at Heath Ledger, has died in his Bondi Beach office. The man dubbed the "grandfather of Australian paparazzi" was discovered by a friend slumped at his desk at his home at Bondi Beach in Sydney's eastern suburbs. "They found him this morning - he was still at his computer," said his friend of 11 years, journalist Natalie O'Brien. The 63-year-old Carrette had worked around the world, including Paris and New York, and is survived by a son and a daughter. "He was just a beautiful guy," O'Brien told AAP. "In a dog-eat-dog world, he was a very kind man." Asked about the key to his success and long career, O'Brien said: "He knew everybody and everybody trusted him. They would come to him with information and he did the right thing by people. Everyone who knew him loved him."
Man Man Tribute To Peter...
RIP Peter Carrette. Peter, you were an angel among us. I feel blessed to have known you. Glad we caught up at the Bondi Beach Sea Shepherd on Friday. It was strange how we first met at Kerry Packer's funeral in 2005, at the Sydney Opera House, on a day which was more a celebration of life, rather than a focus on his death. When I moved to Bondi Beach in 2008 our friendship blossomed, and you were always an attentive ear, and a wonderful source of information and humor. Your Packer and nightlife stories were fantastic and music to my years. Being able to make modest donations to your orphanage in Cambodia was and always will occupy a special place in my heart and memory, as it will for our dear friend, Eva, who also just loved your presence, generosity of heart and sprit, and your photos of course. Eva and I just loved the gifts we got from you at the beach on the weekend, having been sent over from your orphanage in Cambodia. Your Tony Abbott costume you wore to the Sea Shepherd No Compromise! event on Friday night was a classic, just as you were. Knowing you enriched my life, and that of so many of my friends and acquaintances. You were one of the Australian media's great guys, and I think you knew that I saw you as a bit of a father figure or uncle also, even though I never said those words. You were smart enough to know. The visits to the "best office in the world' at the pad at Bondi Beach were also a fun and memorable experience. Your beautify energy, passion and warmth will always be remembered. You made me, and others, probably look so much better than we actually were, thanks to your artistic and creative gifts. Your colorful shoes will be hard to fill. Always in my mind, and whenever I walk down the hill to the beach I will continue to think of you fondly. You were way too good, in too many ways, to only be remembered as a great photographer. You were a wonderful human being. Another legend has been lost, but will never be forgotten
Greg Tingle, Founder and Director, Media Man
Australian Media and Photographer Legend Dies, by Greg Tingle
One of Australia's most colorful and successful photographers Peter Carrette has died of a heart attack this past weekend. Regarded as one of the good guys in the pap and photography biz, London born Carrette first came to prominence when he photographed a sick Marianne Faithful in a drug coma in her hospital bed circa 1969. Faithful had tripped to Australia with musician Mick Jagger who was to star in a film about Ned Kelly. She had over-dosed after, it was claimed in the British press, she had discovered Jagger in bed as it were, with another woman. Carrette donned a white doctor's coat and stethoscope and sneaked into Faithful's room, snapped the photo that was flashed around the world as one of the first examples of intrusive photography. Earlier this year when Faithful was in town for the Sydney Festival, she advised new media outlet 'The Shuttle' she'd still like to give the snapper a "quick boot in the backside". However she later revealed she had forgiven him. After a stint of studying photography in London, Carrette traveled to Sydney and picked up gig as Sir Frank Packer's copy boy when the media baron owned Daily Mirror newspaper. Once established he worked for various publications photographing news. He ambushed the US invasion of Grenada by hiring a smuggler's boat while the world's news media waited for official transport in downtown Barbados. He also did well in New York for 6 years and photographed for leading fashion title Vogue in Paris for 2 years. A few years back here in Sydney he and another pap squirted the actor Heath Ledger with water pistols at a Sydney film premiere. The images of a startled and wet Ledger was flashed around the world. He was ever so briefly banned by film companies from movie premieres and the like, but later made peace with Ledger shortly before he died in New York. Carrette also supported an orphanage in Cambodia by donating the fees received from his exclusive candid photos of celebrities often taken around Bondi Beach. He ran his own studio and photo biz from a Bondi Beach flat, "The greatest office in the world" he said, where he had lived for the past 20 years. The flat is owned by his good mate, Jack Thompson. Carrette was well liked in the industry, a keen philanthropist, and gave a lot back to the industry. He attended the Sea Shepherd Bondi No Compromise! event at the beach on Friday night at the invitation of Media Man, who has collaborated closely with Peter over the past 3 years, usually at Bondi Beach and often on community based projects. It's understood he passed away on Sunday evening from heart failure while working at his computer.
James Packer Likely Inspired Australia's Richest Woman Share Raid On Network Ten...
It all happened at the event to celebrate Alan Jones's 25 years in radio. Gina Rinehart witnesses history, and decided to play a big part in it. Australia's richest woman was in the mix of the 1100 media and political in crowd who gathered at Sydney's Darling Harbour on November 5 to toast Jones and witness tributes from the likes of former prime minister John Howard, Liberal powerbroker Michael Kroger, opposition Treasury spokesman Joe Hockey, NSW Premier Kristina Keneally and British conservative icon Jeffrey Archer. An emotional address from gaming and media mogul James Packer clearly made an impression. In a rare public display, Packer opened up about Jones. "Alan, no one will ever take your place," he said. "You are without peer, my friend." Packer had just raised his already considerable public profile by grabbing 18% of Ten Network Holdings in a shock sharemarket raid. Here was confirmation he was back in town after some moments of severe doubt during the global financial crisis. Rinehart was paying attention. It is understood the mining heiress wrote to her fellow billionaire afterwards, congratulating him on his speech, expressing her support for Jones and wishing Packer luck with his $280 million Ten investment. Within days, traders noticed that Morgan Stanley Smith Barney...a retail brokerage that accounts for less than 1% of Ten trading on an average day...was responsible for a whopping 24.3% of turnover. That was November 10. The brokerage continued to soak up stock in the following days. Seek co-founder Paul Bassat, adman John Singleton and media company News Limited (publisher of The Australian) were all rumoured to be behind the trades. But this week the mystery buyer was revealed as power woman Rinehart. Nobody could have guessed, except perhaps Packer, who received another letter from Rinehart yesterday, telling him she had spent more than $150m on 10 per cent of Ten. Without being too specific, Rinehart indicated broad support for the Ten shake-up and said she liked the look of the new board. Here was confirmation that Georgina Hope Rinehart was not content to confine her $4.5 billion fortune to the mining sector. Rinehart is said to resent the description "mining heiress", believing she deserves credit for building on her father's legacy. She also does not want to be remembered as the person who took Porteous to court. Some associates believe she wants to make her mark on a bigger stage, much as fellow iron ore magnate Andrew "Twiggy" Forrest has in championing the cause of indigenous Australians in recent years. She hinted at issues of national interest in the short statement released on late Monday. "Our company group is interested in making an investment towards the media business, given its importance to the nation's future, and has selected Channel 10 for this investment," it said. So notions of legacy and influence perhaps explain why Rinehart jumped on the truck to help lead the big crowd in a chant of "axe the tax". She used a megaphone to do it that day. Others have found owning part of a media company is another way to open doors in Canberra. Media Man will be following up the fun, games and media power plays of Australia's Richest women and think she might be the source of more major news for media friends and partners across the global, especially for the good folks at the always hard hitting and switched on Gambling911.
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Wrap Up...
Readers... er, punters, how did you like our report? Tell us in the forum.
If you have a bet, please bet with your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
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Tuesday, November 23, 2010
Online gaming companies in for huge 2011, by Greg Tingle - 23rd November 2010
Online gaming companies in for huge 2011
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Could online gaming firms be in the mix of the top stockmarket investments to make in 2011?
The listing of Betfair (BET) at the conclusion of October on a fancy multiple and the $3.3 billion megamerger between PartyGaming and Bwin (PRTY), due to complete in the first quarter of 2011, appears to have added spark to the industry of late.
Then there is the prospect, albeit slight, of the liberalisation of the US igaming market which has put the industry firmly on investors' watch list, including ours, for next year.
It is understandable, as even a snapshot look at the stockmarket gains of the world’s biggest online gaming companies between circa 2004-2006 reveals just how quickly fortunes were made and lost.
The iGaming Global Top 30 Index, an index of the stockmarket performance of the biggest 30 online gaming companies, surged 40% between July 2004 and August 2005. This was followed by 12 months of extreme volatility before sinking thanks to a controversial piece of legislation in the US.
Since 2006, online gaming’s real story has been dominated by America’s Unlawful Internet Gambling Enforcement Act (UIGEA).
The multibillion-pound global industry virtually collapsed in a heap after its biggest market - the US - was closed down overnight when Congress introduced a surprise clause to legislation in September 2006, in effect making internet betting illegal. Not only was that a blow for investors - it was a hugely expensive one.
British-based companies were among the biggest casualties.
As soon as the London Stock Exchange opened the following Monday morning, shares in PartyGaming - then a FTSE 100 member - dived by 58%, while rivals 888 Holdings (888) and Sportingbet saw their shares slide by 26% and 64% respectively, wiping an estimated £4 billion off the sector's value.
The companies were forced to focus on opportunities in other parts of the world, but the businesses have never fully recovered from the impact of losing their most lucrative market. Last year, online gambling was worth an estimated $5.4 billion (£3.5 billion) overall, a figure that could rise to $12-$16 billion if the market was opened up, analysts say.
Despite the recent loss of a sympathetic Democrat majority in Congress last month, there is renewed hope of floated gambling companies being dealt a good hand on both sides of the Pond.
The new Republican chairman of the House financial services committee is likely to be an old-style Alabaman named Spencer Bachus.
Yet he is likely to listen to the prospects of a reinvigorated gambling sector for the ailing US economy. The Federal government’s non-partisan accountants, the Joint Committee on Taxation, have estimated online gambling could generate between $10 billion and $42 billion in new revenue by 2019, depending on the number of states that opt into a federal regulatory programme.
Yet he is likely to listen to the prospects of a reinvigorated gambling sector for the ailing US economy.
The Federal government’s non-partisan accountants, the Joint Committee on Taxation, have estimated online gambling could generate between $10 billion and $42 billion in new revenue by 2019, depending on the number of states that opt into a Federal regulatory programme.
And you can see why if you glance at the forecast numbers.
With the US nationwide unemployment rate at 10%, 48 of 50 states facing budget shortfalls and a Federal deficit approaching $1.3 trillion, the economic backdrop against which to promote regulation and taxation of internet gambling has arguably never been more favourable.
Yet those companies poised to get a real boost should America legalise online gambling, such as the impressive PartyGaming/Bwin combine, are getting excited about the future.
"We are seeing things from a legislative perspective that are quite exciting for us," says Jim Ryan, chief executive of PartyGaming, whose comments undoubtedly reflect the mood of a growing contingent of gambling operators on both sides of the Atlantic.
There has been speculation that PartyGaming and Bwin have decided to merge at this time precisely because they will be better placed than any other operator to seize a huge market share should the US decide to legalise online gambling. You only have to look at the market share that Party was able to capture by becoming one of the first operators into the online poker market back in 2001.
Analysts agree the enlarged company is in a strong position to exploit the opening up of the US market.
In a note to investors recently, the Morgan Stanley leisure analyst Vaughan Lewis said: "The overall political tide is moving firmly in favour of regulation, rather than prohibition.
"With its expertise... market-leading technology, strong marketing capability and good brands, we think the combined entity of PartyGaming and Bwin would be extremely well positioned to benefit from any market opening in the US. We include nothing in our forecasts for the US, so any new market here is pure upside."
And in a recent Barclays Capital research note, the investment bank said: "In the event of Federal regulation, we believe PartyGaming would be the likely key beneficiary.
"Under this hypothetical scenario, we estimate the potential [underlying profits] uplift could be 94% for PartyGaming and 58% for Bwin and 888. On a state-by-state hypothetical scenario, we estimate the uplift for the group would be considerably lower, but still meaningful."
Meanwhile, at the end of October analysts at Numis published a note saying there is 50% upside potential at Party when the merger with Bwin completes in March 2011. With the shares trading at around 230p at the beginning of November Numis have put a price target of 400p on the stock.
The PartyGaming/Bwin merger has got the other big companies in the sector scurrying around to do similar deals. They don't want to be left behind in what will become a gold rush should the US legalise online gaming.
888 and Sportingbet are also possible future takeover targets as the industry consolidates, but only once their legal liabilities in the US market are cleared. Serious negotiations in the PartyGaming/Bwin merger were only concluded once Party had secured a $105 million settlement with US authorities.
Analysts say a resolution would clear the way for 888 and Sportingbet to re-enter the lucrative US market should moves to overturn the 2006 legislation succeed.
Sportingbet has already acted telling shareholders at its latest results meeting that it had made a £22.8 million settlement with the US Department of Justice over an investigation into illegal internet gambling. The agreement means the firm will avoid being prosecuted in the US for accepting online bets made by Americans between 1998 and 2006.
Sportingbet would hold the most appeal to potential bidders, analysts reckon, pointing to its very strong market positioning in Australia and commenting that Ladbrokes (LAD) and William Hill (WMH) could be interested in a takeover.
Liberum Capital analyst Richard Taylor recently highlighted the strength of Sportingbet’s sports betting business, which he said had one of the best gross margins in the sector at around 10%. In addition, he said Sportingbet’s management was open to a bid, having previously stated up to 55% of their cost base could be removed.
Another former giant of the sector, now somewhat depleted thanks to the UIGEA, is 888.
Analysts say 888's attraction would be the potential for cost savings in a tie-up with a rival online gaming operator, and that Party/Bwin might be a possible buyer. What would make it attractive is that both Party and Bwin use 888 as a supplier.
However, the Shaked family who founded the company, and who control over 50% of the shares, would be looking for a price significantly above the 40p at which the company currently trades.
There have been whispers among London traders in the last few weeks that a £262 million, or 76p a share, cash bid from a much bigger industry player, possibly US entertainment giant Harrah's, which already has close business links with 888 could be on the cards.
Certainly 888 chief executive Gigi Levy has said recently that he looks at consolidation as one of the possible routes to realising shareholder value.
Another giant of the industry looking to become bigger still is the mighty Betfair. Having listed on the LSE at the end of October at 1,300p, the shares soon touched 1,600p-plus, as tracker funds piled in confident it will canter into the FTSE 250 index at the December review with a market value above £1.6 billion.
If things are hotting up at the Federal level for the online gaming industry there are also some exciting developments at state level.
So far in 2010, four states have considered whether or not to legalise some combination of online poker, casino gaming and sports betting: Iowa, Florida, California and New Jersey.
The state making most headway is New Jersey, where internet gambling has been under consideration by lawmakers since 2001. It is finally receiving serious consideration in the state Senate where two bills, which would legalise internet sports betting and casino gaming respectively, have already passed the committee stage this year.
From California to New Jersey to Florida, more state and federal congressmen are taking the reality of a legal online gambling regime a lot more seriously.
Whoever wins the race, state or federal, one thing is clear: more and more stakeholders in the US are finally coming around to understand the risks and implication of a ‘do nothing’ strategy. This is an opportunity cost and gambling companies are getting their bets on regardless.
But ongoing political deadlock clearly poses a real threat to regulatory efforts at all levels of American government. But even as gambling industry stakeholders duke it out in the halls of legislatures around the country, as well as on Capitol Hill in Washington, the very fact that the conflict between them is intensifying signals that interest and investment in pushing for online gaming regulation is rising.
With billions of dollars out there to harvest and market share to win, the entire online gaming sector looks ripe for an upturn in coming months. Investing in online gaming companies has always been a white knuckle ride - and there looks to be every sign this particular circus is once again rolling back into town.
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Could online gaming firms be in the mix of the top stockmarket investments to make in 2011?
The listing of Betfair (BET) at the conclusion of October on a fancy multiple and the $3.3 billion megamerger between PartyGaming and Bwin (PRTY), due to complete in the first quarter of 2011, appears to have added spark to the industry of late.
Then there is the prospect, albeit slight, of the liberalisation of the US igaming market which has put the industry firmly on investors' watch list, including ours, for next year.
It is understandable, as even a snapshot look at the stockmarket gains of the world’s biggest online gaming companies between circa 2004-2006 reveals just how quickly fortunes were made and lost.
The iGaming Global Top 30 Index, an index of the stockmarket performance of the biggest 30 online gaming companies, surged 40% between July 2004 and August 2005. This was followed by 12 months of extreme volatility before sinking thanks to a controversial piece of legislation in the US.
Since 2006, online gaming’s real story has been dominated by America’s Unlawful Internet Gambling Enforcement Act (UIGEA).
The multibillion-pound global industry virtually collapsed in a heap after its biggest market - the US - was closed down overnight when Congress introduced a surprise clause to legislation in September 2006, in effect making internet betting illegal. Not only was that a blow for investors - it was a hugely expensive one.
British-based companies were among the biggest casualties.
As soon as the London Stock Exchange opened the following Monday morning, shares in PartyGaming - then a FTSE 100 member - dived by 58%, while rivals 888 Holdings (888) and Sportingbet saw their shares slide by 26% and 64% respectively, wiping an estimated £4 billion off the sector's value.
The companies were forced to focus on opportunities in other parts of the world, but the businesses have never fully recovered from the impact of losing their most lucrative market. Last year, online gambling was worth an estimated $5.4 billion (£3.5 billion) overall, a figure that could rise to $12-$16 billion if the market was opened up, analysts say.
Despite the recent loss of a sympathetic Democrat majority in Congress last month, there is renewed hope of floated gambling companies being dealt a good hand on both sides of the Pond.
The new Republican chairman of the House financial services committee is likely to be an old-style Alabaman named Spencer Bachus.
Yet he is likely to listen to the prospects of a reinvigorated gambling sector for the ailing US economy. The Federal government’s non-partisan accountants, the Joint Committee on Taxation, have estimated online gambling could generate between $10 billion and $42 billion in new revenue by 2019, depending on the number of states that opt into a federal regulatory programme.
Yet he is likely to listen to the prospects of a reinvigorated gambling sector for the ailing US economy.
The Federal government’s non-partisan accountants, the Joint Committee on Taxation, have estimated online gambling could generate between $10 billion and $42 billion in new revenue by 2019, depending on the number of states that opt into a Federal regulatory programme.
And you can see why if you glance at the forecast numbers.
With the US nationwide unemployment rate at 10%, 48 of 50 states facing budget shortfalls and a Federal deficit approaching $1.3 trillion, the economic backdrop against which to promote regulation and taxation of internet gambling has arguably never been more favourable.
Yet those companies poised to get a real boost should America legalise online gambling, such as the impressive PartyGaming/Bwin combine, are getting excited about the future.
"We are seeing things from a legislative perspective that are quite exciting for us," says Jim Ryan, chief executive of PartyGaming, whose comments undoubtedly reflect the mood of a growing contingent of gambling operators on both sides of the Atlantic.
There has been speculation that PartyGaming and Bwin have decided to merge at this time precisely because they will be better placed than any other operator to seize a huge market share should the US decide to legalise online gambling. You only have to look at the market share that Party was able to capture by becoming one of the first operators into the online poker market back in 2001.
Analysts agree the enlarged company is in a strong position to exploit the opening up of the US market.
In a note to investors recently, the Morgan Stanley leisure analyst Vaughan Lewis said: "The overall political tide is moving firmly in favour of regulation, rather than prohibition.
"With its expertise... market-leading technology, strong marketing capability and good brands, we think the combined entity of PartyGaming and Bwin would be extremely well positioned to benefit from any market opening in the US. We include nothing in our forecasts for the US, so any new market here is pure upside."
And in a recent Barclays Capital research note, the investment bank said: "In the event of Federal regulation, we believe PartyGaming would be the likely key beneficiary.
"Under this hypothetical scenario, we estimate the potential [underlying profits] uplift could be 94% for PartyGaming and 58% for Bwin and 888. On a state-by-state hypothetical scenario, we estimate the uplift for the group would be considerably lower, but still meaningful."
Meanwhile, at the end of October analysts at Numis published a note saying there is 50% upside potential at Party when the merger with Bwin completes in March 2011. With the shares trading at around 230p at the beginning of November Numis have put a price target of 400p on the stock.
The PartyGaming/Bwin merger has got the other big companies in the sector scurrying around to do similar deals. They don't want to be left behind in what will become a gold rush should the US legalise online gaming.
888 and Sportingbet are also possible future takeover targets as the industry consolidates, but only once their legal liabilities in the US market are cleared. Serious negotiations in the PartyGaming/Bwin merger were only concluded once Party had secured a $105 million settlement with US authorities.
Analysts say a resolution would clear the way for 888 and Sportingbet to re-enter the lucrative US market should moves to overturn the 2006 legislation succeed.
Sportingbet has already acted telling shareholders at its latest results meeting that it had made a £22.8 million settlement with the US Department of Justice over an investigation into illegal internet gambling. The agreement means the firm will avoid being prosecuted in the US for accepting online bets made by Americans between 1998 and 2006.
Sportingbet would hold the most appeal to potential bidders, analysts reckon, pointing to its very strong market positioning in Australia and commenting that Ladbrokes (LAD) and William Hill (WMH) could be interested in a takeover.
Liberum Capital analyst Richard Taylor recently highlighted the strength of Sportingbet’s sports betting business, which he said had one of the best gross margins in the sector at around 10%. In addition, he said Sportingbet’s management was open to a bid, having previously stated up to 55% of their cost base could be removed.
Another former giant of the sector, now somewhat depleted thanks to the UIGEA, is 888.
Analysts say 888's attraction would be the potential for cost savings in a tie-up with a rival online gaming operator, and that Party/Bwin might be a possible buyer. What would make it attractive is that both Party and Bwin use 888 as a supplier.
However, the Shaked family who founded the company, and who control over 50% of the shares, would be looking for a price significantly above the 40p at which the company currently trades.
There have been whispers among London traders in the last few weeks that a £262 million, or 76p a share, cash bid from a much bigger industry player, possibly US entertainment giant Harrah's, which already has close business links with 888 could be on the cards.
Certainly 888 chief executive Gigi Levy has said recently that he looks at consolidation as one of the possible routes to realising shareholder value.
Another giant of the industry looking to become bigger still is the mighty Betfair. Having listed on the LSE at the end of October at 1,300p, the shares soon touched 1,600p-plus, as tracker funds piled in confident it will canter into the FTSE 250 index at the December review with a market value above £1.6 billion.
If things are hotting up at the Federal level for the online gaming industry there are also some exciting developments at state level.
So far in 2010, four states have considered whether or not to legalise some combination of online poker, casino gaming and sports betting: Iowa, Florida, California and New Jersey.
The state making most headway is New Jersey, where internet gambling has been under consideration by lawmakers since 2001. It is finally receiving serious consideration in the state Senate where two bills, which would legalise internet sports betting and casino gaming respectively, have already passed the committee stage this year.
From California to New Jersey to Florida, more state and federal congressmen are taking the reality of a legal online gambling regime a lot more seriously.
Whoever wins the race, state or federal, one thing is clear: more and more stakeholders in the US are finally coming around to understand the risks and implication of a ‘do nothing’ strategy. This is an opportunity cost and gambling companies are getting their bets on regardless.
But ongoing political deadlock clearly poses a real threat to regulatory efforts at all levels of American government. But even as gambling industry stakeholders duke it out in the halls of legislatures around the country, as well as on Capitol Hill in Washington, the very fact that the conflict between them is intensifying signals that interest and investment in pushing for online gaming regulation is rising.
With billions of dollars out there to harvest and market share to win, the entire online gaming sector looks ripe for an upturn in coming months. Investing in online gaming companies has always been a white knuckle ride - and there looks to be every sign this particular circus is once again rolling back into town.
Profiles
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Crown Casino Forced To Defend Reputation In Press, by Greg Tingle - 23rd November 2010
Crown Casino, Australia's leading land based casino and prize jewel of gambling and media tycoon James Packer, is publicly fighting back against a number of serious allegations being thrown at them. Media Man and Gambling911 play devil's advocate as we bring you this special report on the cafe and pub talk about Crown...
In the past year or so most of the media reports on James Packer owned Crown Casino have been balanced, with a number of even positive reports, but now a new batch of negative stories, allegations and even a spot of "attack journalism" is starting to read its ugly head again.
Casino Casino bosses are not happy in the least about a bush tucker bag of allegations being leveled at their gambling and entertainment premises.
One of the more gross allegations is that Crown was accused of letting desperate gamblers urinate at machines during 24-hour pokie marathon sessions!
Other leaks say Crown throws fights into the street and tries to cover up crimes and other unwanted attention.
The hard hitting allegations are found in a report based on interviews with 225 current and former Crown casino staff who spoke out about their impressions of the level of violence, problem gambling and alcohol abuse inside Australia's biggest gambling venue.
A number of Australian media and gambling commentators believe the reports may have been geared to generate negative results for the casino, and that a large number of former staff and disgruntled current staff may have been tricked into focusing on negatives, and that somehow the Uni compiled report was designed to make Crown Limited look bad.
The so call "study" was conducted by Deakin University researchers, sphere headed by Associate Prof Linda Hancock. Liquor, Hospitality and Miscellaneous Workers Union staff agreed to participate in the industry-wide research.
The most disgusting allegation was that some one armed bandit players stood by the same pokies for up to 24 hours, with one respondent saying they "sit there and just wee, go to the toilet at the machine"
Crown Casino advises that allegation is not true.
Some staff also allege that Crown Casino is:
Permits patrons to gamble when drunk, even though it is against the law in Victoria
Calling taxis RSL cabs, Silver Service etc) for injured patrons and staff to avoid an ambulance incident report.
Permitting punters to stay on pokies for 24 hours plus marathon sessions or more.
Forcing drunks onto the street.
Covering up up 20 to 30 brawls per evening, with up to 40 punters a night being escorted out onto the street. This is mostly due to fighting, and sometimes patrons used knives and bottles.
Dr Hancock states her research showed a "systematic breakdown between Crown, government and regulators who don't enforce codes of practice".
The report that some say is bias, was rigged, and not accurate, also demonstrates poor awareness among staff of problem gambling, with half of those interviewed saying they wouldn't intervene if a gambler was in a distressed state.
A media spokesperson at Media Man said "The results of the report are not a total surprise. It's well known that there is an agenda from certain parts of the educational and political sector to get negative press on Crown Casino. Whispers are that the report was focusing on negatives and that they interviewed people who were not happy at Crown and has an axe to grind. They have used this report to try to create a media beat up, and also trying to generate attack journalism. University reports are often used to try to give certain agendas more credibility Do not believe everything you read, including from University reports. We know Crown Casino to do an excellent job of dealing with problems and are a very responsible employer. The report smells of a rat".
Crown casino spokesman Gary O'Neill said the comments in the report were all false and did not deserve to be described as "research: (a term also used to describe Japanese whaling).
"Crown absolutely denies that staff are encouraged or allowed to permit patrons to gamble while intoxicated," he said.
O'Neill said ambulances were regularly called to Crown and he denied claims that responsible gaming codes were being ignored.
At the time of press more media outlets are starting to go public saying there are flaws in the "research" and that Crown Casino haters are trying to create media beat-ups.
Crown Casino is understood to be considering some reality TV concepts and also is pursuing more national and international top line acts to add to its overall entertainment experience, as the famous Aussie casino wars continue with its main competitor being the embattled Tabcorp, owner - operator of Sydney's Star City, who are spending roughly 1 million dollars to try to play catch up to Crown - eventually wanting to become #1. Good luck Tabcorp, you will need it in spades.
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Readers... er, punters, how did you like our report? Is Crown Casino good or evil? Tell us in the forum.
If you have a bet, please bet with your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
*The writer owns shares in Crown Limited
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In the past year or so most of the media reports on James Packer owned Crown Casino have been balanced, with a number of even positive reports, but now a new batch of negative stories, allegations and even a spot of "attack journalism" is starting to read its ugly head again.
Casino Casino bosses are not happy in the least about a bush tucker bag of allegations being leveled at their gambling and entertainment premises.
One of the more gross allegations is that Crown was accused of letting desperate gamblers urinate at machines during 24-hour pokie marathon sessions!
Other leaks say Crown throws fights into the street and tries to cover up crimes and other unwanted attention.
The hard hitting allegations are found in a report based on interviews with 225 current and former Crown casino staff who spoke out about their impressions of the level of violence, problem gambling and alcohol abuse inside Australia's biggest gambling venue.
A number of Australian media and gambling commentators believe the reports may have been geared to generate negative results for the casino, and that a large number of former staff and disgruntled current staff may have been tricked into focusing on negatives, and that somehow the Uni compiled report was designed to make Crown Limited look bad.
The so call "study" was conducted by Deakin University researchers, sphere headed by Associate Prof Linda Hancock. Liquor, Hospitality and Miscellaneous Workers Union staff agreed to participate in the industry-wide research.
The most disgusting allegation was that some one armed bandit players stood by the same pokies for up to 24 hours, with one respondent saying they "sit there and just wee, go to the toilet at the machine"
Crown Casino advises that allegation is not true.
Some staff also allege that Crown Casino is:
Permits patrons to gamble when drunk, even though it is against the law in Victoria
Calling taxis RSL cabs, Silver Service etc) for injured patrons and staff to avoid an ambulance incident report.
Permitting punters to stay on pokies for 24 hours plus marathon sessions or more.
Forcing drunks onto the street.
Covering up up 20 to 30 brawls per evening, with up to 40 punters a night being escorted out onto the street. This is mostly due to fighting, and sometimes patrons used knives and bottles.
Dr Hancock states her research showed a "systematic breakdown between Crown, government and regulators who don't enforce codes of practice".
The report that some say is bias, was rigged, and not accurate, also demonstrates poor awareness among staff of problem gambling, with half of those interviewed saying they wouldn't intervene if a gambler was in a distressed state.
A media spokesperson at Media Man said "The results of the report are not a total surprise. It's well known that there is an agenda from certain parts of the educational and political sector to get negative press on Crown Casino. Whispers are that the report was focusing on negatives and that they interviewed people who were not happy at Crown and has an axe to grind. They have used this report to try to create a media beat up, and also trying to generate attack journalism. University reports are often used to try to give certain agendas more credibility Do not believe everything you read, including from University reports. We know Crown Casino to do an excellent job of dealing with problems and are a very responsible employer. The report smells of a rat".
Crown casino spokesman Gary O'Neill said the comments in the report were all false and did not deserve to be described as "research: (a term also used to describe Japanese whaling).
"Crown absolutely denies that staff are encouraged or allowed to permit patrons to gamble while intoxicated," he said.
O'Neill said ambulances were regularly called to Crown and he denied claims that responsible gaming codes were being ignored.
At the time of press more media outlets are starting to go public saying there are flaws in the "research" and that Crown Casino haters are trying to create media beat-ups.
Crown Casino is understood to be considering some reality TV concepts and also is pursuing more national and international top line acts to add to its overall entertainment experience, as the famous Aussie casino wars continue with its main competitor being the embattled Tabcorp, owner - operator of Sydney's Star City, who are spending roughly 1 million dollars to try to play catch up to Crown - eventually wanting to become #1. Good luck Tabcorp, you will need it in spades.
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Wrap Up...
Readers... er, punters, how did you like our report? Is Crown Casino good or evil? Tell us in the forum.
If you have a bet, please bet with your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
*The writer owns shares in Crown Limited
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Monday, November 22, 2010
Australian Media and Photographer Legend Dies, by Greg Tingle - 22nd November 2010
RIP Peter Carrette. Peter, you were an angel among us. I feel blessed to have known you. Glad we caught up at the Bondi Beach Sea Shepherd on Friday. It was strange how we first met at Kerry Packer's funeral in 2005, at the Sydney Opera House, on a day which was more a celebration of life, rather than a focus on his death. When I moved to Bondi Beach in 2008 our friendship blossomed, and you were always an attentive ear, and a wonderful source of information and humor. Your Packer and nightlife stories were fantastic and music to my years. Being able to make modest donations to your orphanage in Cambodia was and always will occupy a special place in my heart and memory, as it will for our dear friend, Eva, who also just loved your presence, generosity of heart and spirit, and your photos of course. Eva and I just loved the gifts we got from you at the beach on the weekend, having been sent over from your orphanage in Cambodia. Your Tony Abbott costume you wore to the Sea Shepherd No Compromise! event on Friday night was a classic, just as you were. Knowing you enriched my life, and that of so many of my friends and acquaintances. You were one of the Australian media's great guys, and I think you knew that I saw you as a bit of a father figure or uncle also, even though I never said those words. You were smart enough to know. The visits to the "best office in the world' at the pad at Bondi Beach were also a fun and memorable experience. Your beautify energy, passion and warmth will always be remembered. You made me, and others, probably look so much better than we actually were, thanks to your artistic and creative gifts. Your colorful shoes will be hard to fill. Always in my mind, and whenever I walk down the hill to the beach I will continue to think of you fondly. You were way too good, in too many ways, to only be remembered as a great photographer. You were a wonderful human being. Another legend has been lost, but will never be forgotten
Greg Tingle, Founder and Director, Media Man
Australian Media and Photographer Legend Dies, by Greg Tingle
One of Australia's most colorful and successful photographers Peter Carrette has died of a heart attack this past weekend.
Regarded as one of the good guys in the pap and photography biz, London born Carrette first came to prominence when he photographed a sick Marianne Faithful in a drug coma in her hospital bed circa 1969.
Faithful had tripped to Australia with musician Mick Jagger who was to star in a film about Ned Kelly. She had over-dosed after, it was claimed in the British press, she had discovered Jagger in bed as it were, with another woman.
Carrette donned a white doctor's coat and stethoscope and sneaked into Faithful's room, snapped the photo that was flashed around the world as one of the first examples of intrusive photography. Earlier this year when Faithful was in town for the Sydney Festival, she advised new media outlet 'The Shuttle' she'd still like to give the snapper a "quick boot in the backside". However she later revealed she had forgiven him.
After a stint of studying photography in London, Carrette traveled to Sydney and picked up gig as Sir Frank Packer's copy boy when the media baron owned Daily Mirror newspaper.
Once established he worked for various publications photographing news. He ambushed the US invasion of Grenada by hiring a smuggler's boat while the world's news media waited for official transport in downtown Barbados. He also did well in New York for 6 years and photographed for leading fashion title Vogue in Paris for 2 years.
A few years back here in Sydney he and another pap squirted the actor Heath Ledger with water pistols at a Sydney film premiere. The images of a startled and wet Ledger was flashed around the world. He was ever so briefly banned by film companies from movie premieres and the like, but later made peace with Ledger shortly before he died in New York.
Carrette also supported an orphanage in Cambodia by donating the fees received from his exclusive candid photos of celebrities often taken around Bondi Beach.
He ran his own studio and photo biz from a Bondi Beach flat, "The greatest office in the world" he said, where he had lived for the past 20 years. The flat is owned by his good mate, Jack Thompson.
Carrette was well liked in the industry, a keen philanthropist, and gave a lot back to the industry.
He attended the Sea Shepherd Bondi No Compromise! event at the beach on Friday night at the invitation of Media Man, who has collaborated closely with Peter over the past 3 years, usually at Bondi Beach and often on community based projects.
It's understood he passed away on Sunday evening from heart failure while working at his computer.
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Peter Carrette
Social and Community Entrepreneurs
Bondi Beach
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Greg Tingle, Founder and Director, Media Man
Australian Media and Photographer Legend Dies, by Greg Tingle
One of Australia's most colorful and successful photographers Peter Carrette has died of a heart attack this past weekend.
Regarded as one of the good guys in the pap and photography biz, London born Carrette first came to prominence when he photographed a sick Marianne Faithful in a drug coma in her hospital bed circa 1969.
Faithful had tripped to Australia with musician Mick Jagger who was to star in a film about Ned Kelly. She had over-dosed after, it was claimed in the British press, she had discovered Jagger in bed as it were, with another woman.
Carrette donned a white doctor's coat and stethoscope and sneaked into Faithful's room, snapped the photo that was flashed around the world as one of the first examples of intrusive photography. Earlier this year when Faithful was in town for the Sydney Festival, she advised new media outlet 'The Shuttle' she'd still like to give the snapper a "quick boot in the backside". However she later revealed she had forgiven him.
After a stint of studying photography in London, Carrette traveled to Sydney and picked up gig as Sir Frank Packer's copy boy when the media baron owned Daily Mirror newspaper.
Once established he worked for various publications photographing news. He ambushed the US invasion of Grenada by hiring a smuggler's boat while the world's news media waited for official transport in downtown Barbados. He also did well in New York for 6 years and photographed for leading fashion title Vogue in Paris for 2 years.
A few years back here in Sydney he and another pap squirted the actor Heath Ledger with water pistols at a Sydney film premiere. The images of a startled and wet Ledger was flashed around the world. He was ever so briefly banned by film companies from movie premieres and the like, but later made peace with Ledger shortly before he died in New York.
Carrette also supported an orphanage in Cambodia by donating the fees received from his exclusive candid photos of celebrities often taken around Bondi Beach.
He ran his own studio and photo biz from a Bondi Beach flat, "The greatest office in the world" he said, where he had lived for the past 20 years. The flat is owned by his good mate, Jack Thompson.
Carrette was well liked in the industry, a keen philanthropist, and gave a lot back to the industry.
He attended the Sea Shepherd Bondi No Compromise! event at the beach on Friday night at the invitation of Media Man, who has collaborated closely with Peter over the past 3 years, usually at Bondi Beach and often on community based projects.
It's understood he passed away on Sunday evening from heart failure while working at his computer.
Media Man Profiles
Peter Carrette
Social and Community Entrepreneurs
Bondi Beach
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Bondi Beach Lifeguards And Amanda Hinchcliffe Help Build Giant Mo Sandcastle!
Bondi Rescue Lifeguards And Amanda Hinchcliffe Help Build Giant Mo Sandcastle!
Bondi Beach grows a giant Mo!
This Tuesday morning, 23rd Movember, the Bondi Rescue Life Guards - famous icons of health and vitality in Sydney - will show their support for the betterment of men’s health by helping to build a giant sandcastle Mo, or Mo-Castle, at iconic Bondi Beach.
This will be the creation of award winning sand sculptor Jino van Bruinessen (one of only 5 sand sculptors operating in Australia), who will be joined by Bondi Rescue Lifeguards Hoppo and Kerbox, Movember Mo Sista ambassadors Amanda Hinchcliffe and Kate Hurst, and Movember spokesperson Rob Treharne.
The massive Mo-Castle will be a celebration of, and nod to, the vast numbers of Mo's being worn proudly on the lips of men around the country, and globe. And what better place to do it than Bondi - internationally famous for healthy living, sand, and the outdoors.
This week Movember hit their millionth registration and remain on course to beat all previous donations and registration records. With NSW numbers at over 37,000 registrations and over a third of all money raised so far (over 3 million dollars) we hope this will be all the encouragement Sydney-siders need to keep up the good fight for the remainder of the month.
Where:
Bondi Beach, Sydney from 07:00am on Tuesday 23rd Movember!
Visual opportunities:
7.30am - 1.00pm - Sandcastle in progress
12.30 - 1.00pm - Sandcastle to be completed
Interview opportunities:
7.00am - 1.00pm - Movember spokesperson Rob Treharne, Mo Sista ambassador Kate Hurst
8.00am - 1.30pm - Bondi Rescue stars and surf lifesavers Hoppo and Kerbox, Mo Sista ambassador Miss Hawaiian Tropic 2010 Amanda Hinchcliffe
Press enquiries please contact Josh Gardiner 0403 921 097
To speak to our official spokesperson please contact Robbie Treharne 0419 273 263
For assistance on the day, please contact event manager Anestis Mantzouranis 0438 250 565
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Bondi Beach grows a giant Mo!
This Tuesday morning, 23rd Movember, the Bondi Rescue Life Guards - famous icons of health and vitality in Sydney - will show their support for the betterment of men’s health by helping to build a giant sandcastle Mo, or Mo-Castle, at iconic Bondi Beach.
This will be the creation of award winning sand sculptor Jino van Bruinessen (one of only 5 sand sculptors operating in Australia), who will be joined by Bondi Rescue Lifeguards Hoppo and Kerbox, Movember Mo Sista ambassadors Amanda Hinchcliffe and Kate Hurst, and Movember spokesperson Rob Treharne.
The massive Mo-Castle will be a celebration of, and nod to, the vast numbers of Mo's being worn proudly on the lips of men around the country, and globe. And what better place to do it than Bondi - internationally famous for healthy living, sand, and the outdoors.
This week Movember hit their millionth registration and remain on course to beat all previous donations and registration records. With NSW numbers at over 37,000 registrations and over a third of all money raised so far (over 3 million dollars) we hope this will be all the encouragement Sydney-siders need to keep up the good fight for the remainder of the month.
Where:
Bondi Beach, Sydney from 07:00am on Tuesday 23rd Movember!
Visual opportunities:
7.30am - 1.00pm - Sandcastle in progress
12.30 - 1.00pm - Sandcastle to be completed
Interview opportunities:
7.00am - 1.00pm - Movember spokesperson Rob Treharne, Mo Sista ambassador Kate Hurst
8.00am - 1.30pm - Bondi Rescue stars and surf lifesavers Hoppo and Kerbox, Mo Sista ambassador Miss Hawaiian Tropic 2010 Amanda Hinchcliffe
Press enquiries please contact Josh Gardiner 0403 921 097
To speak to our official spokesperson please contact Robbie Treharne 0419 273 263
For assistance on the day, please contact event manager Anestis Mantzouranis 0438 250 565
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Sunday, November 21, 2010
Australian Ex Survivor Producer Up For Murder, by Greg Tingle - 21st November 2010
G'day punters, gamers, entertainment news junkies, casino and media millionaires and billionaires, journalists, politicians and one and all. Australian Bruce Beresford-Redman, former 'Survivor' Producer, and ex resident of Toongabie, Sydney, is up for murdering his wife. Media Man and Gambling911 play Cluedo, Columbo and real life Underbelly with this special report...
A former reality television producer is up for murder for allegedly murdering his wife.
Australian Bruce Beresford-Redman, ex 'Survivor' producer, is the prime suspect.
Why would a husband murder his wife? Will the accused survive a trial? Beresford-Redman appears to be gambling on there not being enough evidence linking him to the grizzly crime, but with new evidence and such coming to the surface he may need to change his tactics, if he is to cheat time in the big house can (jail).
Media Man representatives last September were present at Sydney's 'The Basement' celebrating Australian actor Jack Thompson's 70th birthday when an announcement was made over the microphone that "Producer Bruce Beresford-Redman is sorry he can't make it in person tonight as he's shooting in Mexico", or something to that effect. A silence hit the rumor, raised eyebrows, and a light chuckle or two, as some of the audience were clearly in on the (non funny) joke. Most audience members were pissed... that's Aussie for had drank a lot of beer or wine.
The Latest...
The lovely sisters of Monica Burgos Beresford-Redman want a judge to keep her husband away from Monica's assets as they are understood to be afraid Bruce Beresford-Redman will basically raid the bank accounts to pay lawyers who will defend him on murder charges. Lovely stuff hey punters.
The sisters are understood to be worried BBR will strip Monica's estate to post a hefty bail. In legal papers filed earlier, Monica's sisters claim BBR is already under "severe financial stress".
The move comes just days after Beresford-Redman was arrested in connection with Monica's murder.
A Bit Of History...
BBR was arrested by cops his house in Rancho Palos Verdes, outside Los Angeles on the 16th November. U.S. Marshals and the FBI conducted the arrest. The arrest is for extradition to Mexico says various news wires.
Mexican authorities issued an arrest warrant in May for the former "Survivor" producer, in connection with the murder of his wife, Monica Burgos Beresford-Redman.
The feds complaint alleges a forensic expert examined Bruce's hotel room and found blood stains on a pillar in the room, on the sheets and on a railing! Yep, red all over the shop.
And the complaint goes onto say 2 teens in the hotel room below Bruce's were awakened by "screams, crying for help and extremely loud banging from the room above ... it sounded like a woman in extreme distress."
It was on April 9th 2010, The Los Angeles Times reported that Monica had been strangled and her body dumped in a sewer near where the couple was staying. She was born Monica Burgos on April 8, 1969 in Rio de Janeiro, Brazil. The couple had two children, Alex and Camilla. On May 31, 2010, Mexico issued an arrest warrant on Beresford-Redman for the supposed murder of his wife while Mexican prosecutors initiate extradition proceedings to return Beresford-Redman back to Mexico to be "tried."
According to the complaint, "The fact of Beresford's affair was confirmed through a series of emails obtained by the Mexican authorities in which BBR admitted to his wife that he had been unfaithful." The complaint is also claiming an employee at the hotel witnessed Bruce "attempt to physically assault the woman," whom he later identified as Monica. And after Monica disappeared, authorities observed scratches/abrasions on BBR's hands, behind his ear, on his left shin and his right ankle.
We're expecting news from BBR's court room affairs in downtown LA.
From Bondi Beach - Sydney - Vegas - Mexico - LA and beyond, the BBR "Survivor" alleged murderer case remains the talk of the town.
BBR had lived in his Rancho Palos Verdes home with his children since May, although his parents have temporary legal custody of the children, ages 3 and 5. He built his career as a Hollywood reality television show producer. He worked for several seasons on the popular CBS show "Survivor," in which contestants compete against each other in a variety of extreme outdoor scenarios. He was nominated for three Emmy Awards as a producer on the show and was last credited as a producer in 2004. He also worked on NBC's "The Contender" and "The Restaurant," as well as MTV's "Pimp My Ride," according to entertainment media company IMG. Monica Beresford-Redman, a native of Brazil, owned a restaurant in Los Angeles.
Will he survive? Should bookies take odds on the chance of his imprisonment, charged with murder?
The current "Survivor" producer is Brit Mark Burnett. Burnett is frequently referred to as a media and entertainment genius. Burnett has a loose connection to the gambling and casino sector, having produced "The Casino" reality TV show in 2004. It was an American program broadcast on the Fox network that followed two dot-com millionaires, Thomas Breitling and Tim Poster, as they managed the Golden Nugget Hotel & Casino, located in downtown Las Vegas instead of the more popular Las Vegas Strip. The show was cancelled shortly before the last 3 episodes of the series could be broadcast due to crap ratings. However sister station Fox Reality Channel picked up "The Casino" and broadcast the unaired episodes and then ran the series in reruns until its cancellation from that network.
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Australia
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News
Wrap Up...
Readers... er, punters, how did you like our report? What's next for "The Survivor"? Does he have the eye of the tiger, or is he dead meat? Tell us in the forum.
If you have a bet, please bet with your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
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A former reality television producer is up for murder for allegedly murdering his wife.
Australian Bruce Beresford-Redman, ex 'Survivor' producer, is the prime suspect.
Why would a husband murder his wife? Will the accused survive a trial? Beresford-Redman appears to be gambling on there not being enough evidence linking him to the grizzly crime, but with new evidence and such coming to the surface he may need to change his tactics, if he is to cheat time in the big house can (jail).
Media Man representatives last September were present at Sydney's 'The Basement' celebrating Australian actor Jack Thompson's 70th birthday when an announcement was made over the microphone that "Producer Bruce Beresford-Redman is sorry he can't make it in person tonight as he's shooting in Mexico", or something to that effect. A silence hit the rumor, raised eyebrows, and a light chuckle or two, as some of the audience were clearly in on the (non funny) joke. Most audience members were pissed... that's Aussie for had drank a lot of beer or wine.
The Latest...
The lovely sisters of Monica Burgos Beresford-Redman want a judge to keep her husband away from Monica's assets as they are understood to be afraid Bruce Beresford-Redman will basically raid the bank accounts to pay lawyers who will defend him on murder charges. Lovely stuff hey punters.
The sisters are understood to be worried BBR will strip Monica's estate to post a hefty bail. In legal papers filed earlier, Monica's sisters claim BBR is already under "severe financial stress".
The move comes just days after Beresford-Redman was arrested in connection with Monica's murder.
A Bit Of History...
BBR was arrested by cops his house in Rancho Palos Verdes, outside Los Angeles on the 16th November. U.S. Marshals and the FBI conducted the arrest. The arrest is for extradition to Mexico says various news wires.
Mexican authorities issued an arrest warrant in May for the former "Survivor" producer, in connection with the murder of his wife, Monica Burgos Beresford-Redman.
The feds complaint alleges a forensic expert examined Bruce's hotel room and found blood stains on a pillar in the room, on the sheets and on a railing! Yep, red all over the shop.
And the complaint goes onto say 2 teens in the hotel room below Bruce's were awakened by "screams, crying for help and extremely loud banging from the room above ... it sounded like a woman in extreme distress."
It was on April 9th 2010, The Los Angeles Times reported that Monica had been strangled and her body dumped in a sewer near where the couple was staying. She was born Monica Burgos on April 8, 1969 in Rio de Janeiro, Brazil. The couple had two children, Alex and Camilla. On May 31, 2010, Mexico issued an arrest warrant on Beresford-Redman for the supposed murder of his wife while Mexican prosecutors initiate extradition proceedings to return Beresford-Redman back to Mexico to be "tried."
According to the complaint, "The fact of Beresford's affair was confirmed through a series of emails obtained by the Mexican authorities in which BBR admitted to his wife that he had been unfaithful." The complaint is also claiming an employee at the hotel witnessed Bruce "attempt to physically assault the woman," whom he later identified as Monica. And after Monica disappeared, authorities observed scratches/abrasions on BBR's hands, behind his ear, on his left shin and his right ankle.
We're expecting news from BBR's court room affairs in downtown LA.
From Bondi Beach - Sydney - Vegas - Mexico - LA and beyond, the BBR "Survivor" alleged murderer case remains the talk of the town.
BBR had lived in his Rancho Palos Verdes home with his children since May, although his parents have temporary legal custody of the children, ages 3 and 5. He built his career as a Hollywood reality television show producer. He worked for several seasons on the popular CBS show "Survivor," in which contestants compete against each other in a variety of extreme outdoor scenarios. He was nominated for three Emmy Awards as a producer on the show and was last credited as a producer in 2004. He also worked on NBC's "The Contender" and "The Restaurant," as well as MTV's "Pimp My Ride," according to entertainment media company IMG. Monica Beresford-Redman, a native of Brazil, owned a restaurant in Los Angeles.
Will he survive? Should bookies take odds on the chance of his imprisonment, charged with murder?
The current "Survivor" producer is Brit Mark Burnett. Burnett is frequently referred to as a media and entertainment genius. Burnett has a loose connection to the gambling and casino sector, having produced "The Casino" reality TV show in 2004. It was an American program broadcast on the Fox network that followed two dot-com millionaires, Thomas Breitling and Tim Poster, as they managed the Golden Nugget Hotel & Casino, located in downtown Las Vegas instead of the more popular Las Vegas Strip. The show was cancelled shortly before the last 3 episodes of the series could be broadcast due to crap ratings. However sister station Fox Reality Channel picked up "The Casino" and broadcast the unaired episodes and then ran the series in reruns until its cancellation from that network.
Media Man Profiles
Australia
Australia Casinos
Reality TV
Survivor
Sydney
News
Casino News
Entertainment News
News
Wrap Up...
Readers... er, punters, how did you like our report? What's next for "The Survivor"? Does he have the eye of the tiger, or is he dead meat? Tell us in the forum.
If you have a bet, please bet with your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
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Global Gaming Directory
PartyCasino Wins Media Man 'Online Casino Of The Month' Award
PartyCasino.com Wins Media Man Online Casino Award
PartyCasino.com has been awarded the Media Man and Casino News Media "Online Casino Of The Month".
PartyGaming's igaming suite has grown a custom to winning awards since they first opened for business in 1997.
The competition for the coveted award was intense again this month with massive bids from both WPTCasino.com, Captain Cooks Casino, Virgin Casino, Betfair, PKR and Noble Casino however there can only be one winner... ladies and gentlemen, that's PartyCasino.com
The award follows PartyPoker's EGR Poker Operator Of The Year and PartyGaming also made the shortlist for EGR Operator Of The Year. Recently PartyGaming's PartyPoker.com also won the Casino News Media "Online Poker Website Of The Month".
The Media Man - Casino News Media accolade is based on a combination of elements including user experience, innovation, trustworthiness, customer service, gameplay, affiliate program offerings, newsworthiness and company values.
PartyCasino.com is one of a number of PartyGaming brands.
The most popular PartyCasino.com games of late include Heist, Circus, Rambo, Palladium Slot, The Godfather, Sinatra, Slotbox, Call Of Duty 4: Modern Warfare, Mission: Impossible, The Terminator, Cleopatra, Sinatra, Thor, The Incredible Hulk, The Amazing Spider-Man, Monopoly, Resident Evil, Melon Madness, Wheel Of Fortune and Mega Fortune Wheel.
The PartyCasino.com jackpot is currently approaching the $2 million mark. Players can also compete for The Big One and Marvel Hero Jackpot, playing the Marvel super hero themed online slot games.
PartyCasino's most recent game releases include Shaaark! SuperBet, Crocodopolis, Alice's Wonderland, Glamour Puss, Super Cubes, Heist, Palladium Slot and Circus Slot.
PartyGaming CEO Jim Ryan has gone on record advising PartyCasino will soon feature more Hollywood blockbuster themed slots. A few in the know journalists and media agents have been recently tipped off that an all time classic movie adaption will be showcased in the PartyCasino portfolio within 1 month. PartyCasino has the world's most impressive line up of Hollywood themed games, and more are just around the corner.
PartyCasino.com and PartyPoker.com customers can also benefit from rewards and bonuses via PartyPoints and the Palladium Lounge. Be certain to check out the PartyCasino exclusive "Cash Machine" that is being championed as one of the greatest online casino promos ever.
Media Man, Casino News Media and Global Gaming Directory do have a b2b relationship with PartyGaming, as they do with dozens of other companies in the gaming, igaming, media and entertainment industry.
Websites
PartyCasino.com
PartyPoker.com
World Poker Tour Casino
Profiles
PartyCasino.com
PartyPoker.com
World Poker Tour
PartyGaming
PartyCasino.com has been awarded the Media Man and Casino News Media "Online Casino Of The Month".
PartyGaming's igaming suite has grown a custom to winning awards since they first opened for business in 1997.
The competition for the coveted award was intense again this month with massive bids from both WPTCasino.com, Captain Cooks Casino, Virgin Casino, Betfair, PKR and Noble Casino however there can only be one winner... ladies and gentlemen, that's PartyCasino.com
The award follows PartyPoker's EGR Poker Operator Of The Year and PartyGaming also made the shortlist for EGR Operator Of The Year. Recently PartyGaming's PartyPoker.com also won the Casino News Media "Online Poker Website Of The Month".
The Media Man - Casino News Media accolade is based on a combination of elements including user experience, innovation, trustworthiness, customer service, gameplay, affiliate program offerings, newsworthiness and company values.
PartyCasino.com is one of a number of PartyGaming brands.
The most popular PartyCasino.com games of late include Heist, Circus, Rambo, Palladium Slot, The Godfather, Sinatra, Slotbox, Call Of Duty 4: Modern Warfare, Mission: Impossible, The Terminator, Cleopatra, Sinatra, Thor, The Incredible Hulk, The Amazing Spider-Man, Monopoly, Resident Evil, Melon Madness, Wheel Of Fortune and Mega Fortune Wheel.
The PartyCasino.com jackpot is currently approaching the $2 million mark. Players can also compete for The Big One and Marvel Hero Jackpot, playing the Marvel super hero themed online slot games.
PartyCasino's most recent game releases include Shaaark! SuperBet, Crocodopolis, Alice's Wonderland, Glamour Puss, Super Cubes, Heist, Palladium Slot and Circus Slot.
PartyGaming CEO Jim Ryan has gone on record advising PartyCasino will soon feature more Hollywood blockbuster themed slots. A few in the know journalists and media agents have been recently tipped off that an all time classic movie adaption will be showcased in the PartyCasino portfolio within 1 month. PartyCasino has the world's most impressive line up of Hollywood themed games, and more are just around the corner.
PartyCasino.com and PartyPoker.com customers can also benefit from rewards and bonuses via PartyPoints and the Palladium Lounge. Be certain to check out the PartyCasino exclusive "Cash Machine" that is being championed as one of the greatest online casino promos ever.
Media Man, Casino News Media and Global Gaming Directory do have a b2b relationship with PartyGaming, as they do with dozens of other companies in the gaming, igaming, media and entertainment industry.
Websites
PartyCasino.com
PartyPoker.com
World Poker Tour Casino
Profiles
PartyCasino.com
PartyPoker.com
World Poker Tour
PartyGaming
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