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Friday, February 17, 2023
Wednesday, February 15, 2023
Media Man News Blog: “Everything that has a beginning has an end. I see the end coming. I see the darkness spreading. I see death. And you are all that stands in his way.” - Oracle, ‘The Matrix Revolutions' (2003).
Media Man News Blog
“Everything that has a beginning has an end. I see the end coming. I see the darkness spreading. I see death. And you are all that stands in his way.” - Oracle, ‘The Matrix Revolutions' (2003).
Media Man News Blog: Reviews, News, Articles, Promotions, Links, Media and More
Media Man News Blog
Media Man
Reviews News Articles Promotions Links Media and More
Reviews, News, Articles, Promotions, Links, Media and More
Tuesday, February 14, 2023
Media Man News Blog: Dogecoin immediately jumped 5% after Elon Musk joked that he and Rupert Murdoch were discussing it at the Super Bowl
Media Man News Media Blog
Dogecoin immediately jumped 5% after Elon Musk joked that he and Rupert Murdoch were discussing it at the Super Bowl
Elon Musk joked he was talking to Rupert Murdoch about meme token dogecoin at the Super Bowl LVII.
In a tweet that asked what the two billionaires were talking about, Musk simply said: "Dogecoin."
Dogecoin soared as much as 5% on Musk's comment only to slip back down on Monday.
Tech guru Elon Musk joked he was talking to Rupert Murdoch about meme-inspired cryptocurrency Dogecoin at Sunday's Super Bowl.
The two billionaires were watching the Philadelphia Eagles and Kansas City Chiefs compete in a game that saw the latter team take home the trophy.
In a tweet that posted a picture of the pair seated next to each other with a caption asking what they were discussing, Musk simply said: "Dogecoin."
It sent the meme token immediately surging as much as 5% on Monday. At the time of writing, dogecoin had slipped back to wipe out most of its earlier gains, according to CoinMarketCap.
Musk has been a long-time champion of dogecoin, having adopted it as a form of payment in Tesla's merchandise store. There has also been speculation that the billionaire CEO could use dogecoin as a payments option on Twitter following his acquisition of the social-media platform.
Dogecoin has gained 19% so far this year, and its rise comes as the broader crypto market recovers from the fallout of the collapse of FTX. So far in 2023, two of the world's largest tokens, bitcoin and ethereum have risen 30% and 18%, respectively.
In January, the total value of the crypto market topped $1 trillion for the first time since the collapse of FTX. It's fallen below that mark over the past week as digital-asset exchange Kraken's troubles with regulators weighed on market sentiment and investors awaited the latest US inflation data.
"Investors might dial up bets on how high the Fed will have to take interest rates and that could support a broad move lower for all risky assets, especially crypto," OANDA analyst Craig Erlam said.
Media Man News Blog: Star hit by casino slump, flags up to $1.6b writedown
Media Man Blog News
Star hit by casino slump, flags up to $1.6b writedown
Star Entertainment Group has posted a revenue drop at its flagship Sydney casino and warned of a substantial impairment charge in its upcoming half-year results.
The embattled casino operator on Monday said it anticipated a non-cash impairment charge of between $400 million to $1.6 billion against its first-half results, in relation to its NSW business.
Star attributed the writedown to operational changes after a regulatory inquiry that resulted in its casino licence in the state being suspended, as well as a likely increase in NSW casino duty rates starting in the 2023/24 financial year.
"Whilst the outcome of recent regulatory and legislative developments remains uncertain, we have taken a prudent approach to assessing the carrying value of our assets, which has resulted in a non-cash impairment charge which will be recognised in our 1H FY23 results," Group CEO Robbie Cooke said in a statement.
By 1430 AEDT, Star Entertainment shares had slumped more than 20 per cent to $1.50 - after the stock hit its lowest level since March 2020 earlier in the session. Shares have lost nearly 50 per cent of their value during the past 12 months.
NSW's gaming regulator suspended Star's Sydney licence in October and slapped a record $100 million fine on the company after an inquiry found the casino had allowed money laundering to take place inside private rooms and identified numerous compliance failures.
A similar review in Queensland also fined Star $100 million and found it unfit to hold the two casino licences in the state after the company neglected anti-money laundering and responsible gaming duties in the state.
Shareholders have separately launched a class action against the group over its failure to disclose money laundering links to organised crime.
The regulatory troubles have hit Star's performance with the company incurring compliance and remediation costs of $20 million, including to increase headcount over the first half.
On Monday, Star said revenue at its main Sydney casino for the six months to December was down 13.5 per cent on pre-Covid levels.
Overall group revenue was down just 1 per cent though, buoyed by 30 per cent jump at Star Gold Coast and a 9 per cent lift at the Brisbane Treasury.
Star expects to report underlying earnings between $195 million and $205 million in the first half, when official results are released on February 23.
Star said it has also been impacted by increased competition since the opening of rival Crown's new Sydney casino in August 2022.
The company's operational challenges look set to continue after the NSW government in December announced without consultation that it would increase taxes on the state's two casinos.
"If implemented in their current form, the proposed duty rate increases would have a significant adverse impact on the profitability of The Star Sydney, further compounded by the changing operating and competitive environment," the group said, while flagging the impairment charge.
"In this scenario, The Star intends to undertake an urgent review of The Star Sydney's operating model and assets, with a view to maximising value for the group's shareholders."
Monday, February 13, 2023
Sunday, February 12, 2023
Media Man News Blog: UFC lightweight championship: Islam Makhachev (24-1, 13-1 UFC) def. Alexander Volkanovski (25-2, 12-1 UFC) by unanimous decision. Perth, Australia what a show. Much respect
Media Man News Blog
UFC lightweight championship: Islam Makhachev (24-1, 13-1 UFC) def. Alexander Volkanovski (25-2, 12-1 UFC) by unanimous decision. Perth, Australia what a show. Much respect
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