Australia
New Research Looks at the Impact of New Forms of Gambling-like Products on Young People
New research funded by the NSW Government’s Responsible Gambling Fund shows that young adults aged 18-24 years old have different formative gambling experiences to those aged 25-29, and are more likely to report taking part in emerging forms of gambling and gambling-like activities, such as social casino games, before the age of 18.
The study, by Central Queensland University (CQU), found that people aged 18-24 appear to find traditional forms of gambling less appealing when compared to those aged 25-29.
The emergence of new forms of gambling and gambling-like products potentially expose young people to a gateway to gambling.
Director of the Office of Responsible Gambling, Natalie Wright, said “New gambling-like products, like free-to-play games, allow young people to learn about gambling, gain confidence through practice and potentially lead them to participate in traditional forms of gambling as they get older.”
The study found that all forms of gambling, both traditional and emerging, were associated with gambling harm.
“Young people, who we know are vulnerable to gambling harm, are drawn to emerging forms of gambling. Although some may not yet be experiencing harm, the higher uptake of newer forms of gambling by young people may sustain or even increase gambling harm in the future.” Ms Wright said.
The study looked to understand how gambling is changing in New South Wales, particularly amongst young adults, and the impact of newer forms of gambling and gambling-like products.
The CQU research found:
- Compared to 25 – 29 year olds, 18–24 year olds:
o were more likely to have taken part in emerging forms of gambling and simulated gambling except when it required expenditure
o are less engaged with traditional gambling forms
o were more likely to recall first taking part in traditional and emerging forms of gambling while under the age of 18.
- Compared to 18-24 year olds, those aged 25 – 29:
o were more likely to have taken part in traditional forms of gambling
o were more likely to recall being exposed to gambling via adults in their household.
To view a copy of the report, please visit the Office of Responsible Gambling website.
Australia
AUSTRAC CEO Brendan Thomas Announced as Speaker for Regulating the Game 2025 Sydney
The organisers of Regulating the Game 2025 have announced that Mr Brendan Thomas, chief executive officer of AUSTRAC, will be a featured speaker at the 2025 edition of the conference, taking place at the Sofitel Sydney Darling Harbour from 10-13 March 2025.
Mr Thomas, who began his 5-year term as AUSTRAC CEO in January 2024, brings extensive experience in leading public services and delivering reforms, particularly within NSW’s criminal and civil justice systems.
As the head of Australia’s financial intelligence unit and AML/CTF regulator, he oversees AUSTRAC’s efforts to safeguard the financial sector from criminal exploitation while providing critical intelligence to support national security, law enforcement and regulatory partners.
AUSTRAC has intensified its focus on the gambling sector, following a series of high-profile enforcement actions against major casino operators and several corporate bookmakers. Reports in the Financial Review have also highlighted AUSTRAC’s increased scrutiny of pubs and clubs in the wake of the 2022 NSW Crime Commission’s Project Islington, which, while finding no widespread laundering of criminal proceeds, revealed significant amounts of illicit funds being gambled in these venues.
Paul Newson, principal at Vanguard Overwatch and organiser of Regulating the Game, said: “Having Brendan Thomas speak at the conference signals AUSTRAC’s ongoing commitment to the gambling sector. His participation emphasises the importance of making sure the industry is alert to money laundering risks and continually strengthened against financial crime.”
Mr Thomas’ presentation is expected to offer invaluable insights for regulators, industry leaders and key stakeholders, especially as AUSTRAC’s role in combatting financial crime is set to expand further with the anticipated passing of the Government’s Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024. This legislation aims to extend the AML/CTF regime to high-risk professions, such as real estate agents, lawyers, accountants and dealers in precious metals and stones, marking a pivotal shift in Australia’s regulatory landscape.
Regulating the Game 2025 will be held in Sydney, Australia, from March 10 to 13. The event will once again serve as a platform for thought leaders, innovators and regulators to come together and explore the most pressing issues in the gambling sector.
The post AUSTRAC CEO Brendan Thomas Announced as Speaker for Regulating the Game 2025 Sydney appeared first on European Gaming Industry News.
Australia
The Star: New Debt Facility Arrangement
The Star Entertainment Group Limited announced that the Group’s corporate lenders have executed a commitment letter for a new debt facility (of up to $200 million in two-tranches) which will become effective upon completion of long-form documentation and satisfaction of various conditions precedent.
The Group’s existing $450 million facility has been reduced to $334 million which is fully drawn.
The Company’s lenders have agreed to provide covenant waivers for the next two testing dates, being 30 September 2024 and 31 December 2024, with the waiver for the latter date being subject to execution of long-form documentation for the new debt facility and other customary conditions.
The new facility comprises two tranches of $100 million each. The first tranche is expected to be available to be drawn, subject to conditions precedent, from the end of October 2024 through to 20 December 2024.
The first tranche is subject to certain conditions precedent being met, including:
•the provision of unsecured guarantees from some of the Group’s regulated entities and enhanced security granted to lenders;
•regulatory consents and government approvals as required for guarantees and enhanced security for the lender group;
•the establishment of a disposal proceeds account with a credit balance of an amount representing the net proceeds of the sale of the Treasury Brisbane casino building and any other non-core asset proceeds completed before the draw down; and
•other customary conditions precedent.
The second tranche is subject to more extensive conditions precedent but, if satisfied, would be expected to be available to be drawn from the end of December 2024 and have a 4 month availability period following the drawing of the first tranche.
The conditions precedent for the second tranche drawdown include:
•the receipt of required regulatory consents and finalisation of documentation for the granting to the lender group of security over the Group’s regulated entities;
•provision of information in relation to the Group’s long-term strategy;
•all lender approval of the Group’s strategic plan and long-term financial forecasts;
•the Company raising additional subordinated capital of at least $150m; and
•other customary conditions precedent.
The all-in coupon for the new facility is 13.50% per annum (assuming cash pay is elected), and the existing $300 million term facility has been repriced to this level:
•the Company has the flexibility to capitalise a component of the interest at its election; and
•there is a reduction in the coupon subject to the Group’s Adjusted Net Leverage Ratio falling below 4.0x.
The maturity date for the new facility is consistent with the existing term loan (December 2027). The Group will also retain up to $34 million of bank guarantees under the existing revolving credit facility.
The post The Star: New Debt Facility Arrangement appeared first on European Gaming Industry News.
Australia
BetMakers and SIS Sign Data and Content Agreement
BetMakers Technology Group has announced that it has signed a new racing data and content distribution agreement with Sports Information Services Limited (SIS).
Under the agreement, BetMakers will deliver SIS race data and video content to approved SIS customers and affiliates in Australia and New Zealand via integration with BetMakers’ bookmaker technology platforms, including websites, mobile apps and pricing applications.
The agreement will give BetMakers’ bookmaker clients in the region who also use SIS data and audio-visual services access to video and data for horse racing from the UK and Europe, the Middle East and the Americas and to greyhound racing from the UK and Ireland.
BetMakers CEO Jake Henson said: “We are pleased to extend our longstanding working relationship with SIS to deliver content and data services to BetMakers’ bookmaker solution clients in Australia and New Zealand. Close integration with partners like SIS allows BetMakers to offer our End-to-End Platform, Embedded Solution and API clients the racing and betting content they demand and to ensure that our solutions continue to deliver the broadest suite of global racing products to heighten player engagement.”
SIS MD, EMEA, Paul Witten, said: “Australia is one of the largest international racing wagering markets and our partnership with BetMakers enables SIS customers to receive a tailored product that suits their local market needs. We are pleased to assist our racetrack partners in ensuring broad distribution continues and look forward to working with BetMakers over the course of the agreement to deliver growth for those partners.”
The post BetMakers and SIS Sign Data and Content Agreement appeared first on European Gaming Industry News.
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