Monday, February 27, 2012

NSW Premier delighted with new Sydney casino plans; Packer Crown Limited pending jackpot

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The Australian casino (or gaming) wars have got to a whole new level. It's Packer's Crown VS Echo Entertainment in an almost 'State Of Origin' type battle for the bulk of Australia's land based casinos. One that will take place in a boardroom, rather than on a football field, but make no mistake - it's war.

But, there is no war but peace between Crown Limited and NSW Premiere Barry O'Farrell.

The New South Wales Premier Barry O'Farrell advised he is very pleased with plans for a second Sydney casino at Barangaroo.

James Packer's Crown Casino - Crown Limited gaming giant desires to construct a world class hotel, casino and entertainment complex at the site based Sydney Harbour.

It's a given that Packer has been watching the success of Echo Entertainment's The Star, which overlooks Sydney Harbour - but has recently got itself into a few scandals.

Last week Crown Limited increased its stake in Echo Entertainment, which runs The Star casino.

Mr O'Farrell says the proposal for a second venue would bring jobs and tourism to Barangaroo, however it would need to achieve regulatory approval before moving forward to development.

John Lee from the Tourism Transport Forum says it would add life to the area.

"You only have to go to Melbourne and see that area around the Yarra River, yes there's Crown Casino there, but there is also movie cinemas, bowling alleys - there's all sorts of things that entertain people when they go to the precinct," he said.

"It's actually a place now, or a destination that people love to go to."

Currently the law allows for only one Sydney casino licence until 2019.

Greens MP John Kaye says Sydney does not need a second casino.

"There shouldn't be a back door deal between the Packers and the Premier - this should be a matter of public debate," he said.

"If you put this to the people of New South Wales they will say no to a new casino because they know it increases problem gambling, they know it increases connections to organised crime."

Packer and his team have a history of getting things done... perhaps move than that of say Prime Minister Julie Gillard.

Watch this space.


NSW Premiere Barry O'Farrell applauds Packer proposal for a second casino...

The NSW Premier, Barry O'Farrell, has embraced plans by James Packer's group for a hotel and second Sydney casino at Barangaroo on land set aside as playing fields for office workers.

On Friday Mr Packer's casino group, Crown, advised Mr O'Farrell that Crown wanted a second Sydney casino as part of a hotel and restaurant complex in the centre of the harbourside site, which the Barangaroo Delivery Authority says is intended for "civic, educational and recreation spaces".

Mr O'Farrell said: "I think it's an exciting proposal which could add extra life to Barangaroo, give Sydney another world-class hotel, generate jobs and boost tourism."

The plan also involves building a 5 star hotel well north of the proposed commercial precinct, ensuring guests on upper floors have unobstructed views of the Sydney Opera House and the Heads.

"It's the sort of tourism-related investment we want in Sydney but everyone's aware there are a range of regulatory approvals needed before it could proceed," Mr O'Farrell said.

Those approvals include permission from government bodies for a second Sydney casino because the law now allows only one licence until 2019.

On Friday Crown increased to 10 per cent its stake in Echo Entertainment, which owns the Star casino, and has sought permission from regulators to increase its stake further.

If Crown Limited can gain control of the Star, its executive chairman, Mr Packer, could in fact pursue his plan for a Barangaroo casino to operate under an extended licence for the Star.

He has flagged that such a casino would not need poker machines and could simply have gaming tables, of which the Star can have an unlimited number.

As well as approval for a second casino, Crown Limited or another developer would need the government to change planning rules for the site which now restrict any building to 30 metres high and allow only 60,000 square metres of development in the whole of Barangaroo Central.

Last week a US landscape architect, Peter Walker, who has been retained to design Barangaroo's headland park, revealed that his plans included open playing fields for office workers, similar to the Domain on the eastern side of the central business district.

He has also proposed an outdoor space or amphitheatre for concerts in the central area of Barangaroo, which is proposed as a transition between the commercial towers in the south and the headland park in the north.


James Packer planning $1.5bn casino investment...

Crown Limited plans to spend more than $1.5 billion on building new luxury hotels in Sydney and Perth, after boosting its investment in rival casino operator Echo Entertainment, Crown's executive chairman James packer advised The Australian Financial Review.

Mr Packer's plan to expand the Crown chain beyond Melbourne is part of a campaign to attract wealthy Chinese gamblers aka "Oriental whale VIP high rollers" to Australia's shores, he told the newspaper.

“Australia needs to have truly world-class hotels,” he said, acknowledging that regulators would probably raise competition concerns.

“I want to build one in Perth and one in Sydney to go with what we have in Melbourne. It puts these cities on the map."

Mr Packer's comments come after Crown spent more than $250 million lifting its stake in Echo, which owns The Star casino in Sydney, and Jupiters on the Gold Coast, to 10 per cent, from 4.9 per cent previously.

Echo rejected Mr Packer's call for representation on the company's board.

*the writer is an investor in Crown Limited, Network Ten and Virgin Enterprises

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Friday, October 14, 2011

Brock Lesnar targets WWE: The Undertaker and "Stone Cold" Steve Austin, by Greg Tingle - 14th October 2011

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UFC and former WWE man monster, Brock Lesnar, is ready to rock, roll and rumble, this time back into the gaming industry.

The former heavyweight champion (UFC and WWE), along with his manager / agent, Paul Heyman, are also interested in suitable business opportunities, and Australian based media agency, Media Man, took the initiative to test the waters in Asia Pacific via some online media exposure and tactics.

As far as we know, the only time Lesnar has ever actually set foot on Australian soil to date was back in 2002 as part of the WWE 'Global Warming Tour', after taking Hulk Hogan's spot on the card, Lesnar having injured Hogan's back (so the storyline went). Hogan didn't make the 2002 Australian tour, but finally got down under in November 2009 with his 'Hulk-A-Mania' tour, but that's another story brother... and sisters.

The Minnesota monster, who left the world of pro wrestling to brawl as a pro mixed martial artist, rocketed to pinnacle of the heavyweight roster in the Ultimate Fighting Championships and realised his dream of becoming the undisputed heavyweight champion after only four career matches.

The title reign ended in Lesnar's third title defence, when he was stopped dead in his tracks inside the first round by Mexican American Cain Velasquez.

As Lesnar told the media: "On any given day anyone can beat anyone. It happened to me too".

He's currently on the comeback trail to the UFC following a illness, yet Lesnar has told the press in a number of US interviews that he may be tempted back to the WWE... yes, the pro wrestling circus. Well, we don't really think its a circus, but some detractors do.

Quizzed if he would return to the WWE for one more match, Lesnar told ESPN, "I think under the right circumstances I will."

"I think if Vince McMahon and I were able to sit down at the same dinner table and break some bread that we could come up with some kind of game plan...I think a lot of things have to fall in the right places for something like that to happen."

Lesnar's ties with the WWE media and marketing machine have been re-established with the news that he will feature in their upcoming video game, WWE 12, and he has also featured in a viral video to help promote the launch of the game.

The ex WWE champ has hinted that he'd very much like to take on The Undertaker (Mark William Calaway), who has never lost at the showcase event WrestleMania.

"There's a guy that's been on a winning streak for a long time that somebody needs to step up to the plate and finish the winning streak," Lesnar told IGN.

Shawn Michaels, Big Show, Jake "The Snake" Roberts, Ric Flair and a host other others have all tried and failed. Yes, we know that pro wrestling has predetermined winners, but suspend disbelief with us if you will.

And he had some special words for one of the most popular WWE stars of all time, "Stone Cold" Steve Austin.

"There's another side of me that says if there was a chance for me to come back to fight a guy, it would be the guy that I was supposed to fight that chicken-sh**ted out on me and didn't show up, and that would be 'Stone Cold' Steve Austin."

"At the end of the day, my life, my character and my profession - I take them very seriously. At the end of the day, if it doesn't help me or my family out, and it doesn't make sense for me to do, then I don't do it. Everything would have to fall in the right place, but would I consider it? Absolutely."

Lesnar is due to return to mixed martial arts action and face off against former Strikeforce Heavyweight Champion and K-1 Grand Prix kickboxing champion, Alistair Overeem, in a heavyweight superfight at UFC 141. The match will headline the event at the famous American entertainment and gaming venue, the MGM Grand Garden Arena, in 'Sin City' Las Vegas on December 30th. Lesner will be looking for his jackpot Christmas present - the big win.

We can also confirm that Lesnar in interested in other gaming and branding opportunities, perhaps following the lead of fellow monsters Hulk Hogan, Ric Flair, Kevin Nash and the late, great, Andre The Giant. He is also understood to be keen to further explore online gaming opportunities. The Wrestling News Media network is following up for more details. Don't change your dial.

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Saturday, August 20, 2011

Wynn Resorts May Purchase Bwin.Party Digital Entertainment, by Greg Tingle - 20th August 2011

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Earlier this year, PartyGaming and bwin merged to create Bwin.Party Digital Entertainment, which is traded on the London Stock Exchange under the symbol BPTY. In an news article that appeared in The Independent last Tuesday, it was noted that since the two online gaming giants merged, the combined company’s share price has dipped by nearly half. While part of the drop might be due to a slowing economic environment worldwide and so no action might be needed, other entities felt that an infusion could be in the offing.

The Independent added that Wynn Resorts, headed up by Steve Wynn, has emerged as a possible investor in the newly formed gaming giant, which is focused on the European market and continues to feature two separate online poker rooms. Readers will recall just before Black Friday in the United States, PokerStars and Wynn Resorts announced that, once a gaming license was secured in the United States, the two companies would team up to launch Poker Stars Wynn.

Following Black Friday, in which the founders of PokerStars were indicted on charges that included money laundering and bank fraud, the deal with Wynn was called off as you would expect.

The news outlet cautioned, however, that investors might wait for the gaming environment in the United States to be sorted out first: "Not everyone agreed with the chatter, however, with one trader saying acquisitions in the sector were unlikely until there was further clarification over the potential regulation of online gambling in the U.S."

On Thursday, shares of Bwin.Party closed at 106.50 in London. Other rumored "aggressors," as the Independent calls prospective investors, include William Hill, which is also publicly traded on the London Stock Exchange. Shares of BPTY stood above 160 pence in April, but have since dipped.

One poster on the TwoPlusTwo forum, questioned whether the rumors of a Wynn takeover were plausible: "So the newly merged Bwin.Party will sell to Wynn before even taking advantage of all the millions of Euros they will make in the first two years by virtue of the their merger synergies?"

Despite the merger, PartyPoker.com remains the flagship site of its own network, while bwin makes its home on the Ongame Network alongside rooms such as Betfair.

Caesars Entertainment, one of the principal competitors of Wynn Resorts, has partnered with 888, also a publicly traded company in London. Prior to Black Friday, Full Tilt Poker teamed up with Fertitta Interactive, whose ownership group has strong ties to Station Casinos. Along with the PokerStars - Wynn deal, the latter fell by the wayside once the U.S. Department of Justice took action in April.

Other members of TwoPlusTwo continued to cast doubt on the validity of The Independent’s report. One player wrote, "Party has never had any interest in selling. This feels like an absolute recycle of the previous such rumor that they were going to be bought out by Harrah’s. Unsurprisingly, it turns out there was never such a thing on the table and the only connection was former Party CEO Mitch Garber moving to Caesars Interactive."

Rumors have also persisted that the Ongame Network could be sold outright. To that end, Sharecast.com noted in a recent article, "Bwin.Party, the world's largest online gaming group, already has its poker network, Ongame, on the auction block. The sale is expected to generate between 20M and 30M Euros ($28.5m to $42.7m), a modest figure reflecting the loss of players the network will incur through the sale."

But could a deal between Wynn and Bwin.Party be finalized before online poker is legalized in the United States? And will it matter? This week, the New York Post published an article stating that online poker legislation could be coming sooner rather than later. One source told the Post, "I think there is becoming a feeling in Congress that this is something that needs to be regulated and be done. I believe there is a possibility a bill will pass towards the end of the year."

Media Man will be following the story with weekly reports.

*The writer has conducted b2 with Bwin.Party Digital Entertainment and Betfair.

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