SkyCity Entertainment is one of the most recognized gambling/entertainment names in New Zealand and Australia. With world-class properties in Adelaide, Darwin, Auckland, Queenstown and Hamilton and excellent stock on the New Zealand Stock Exchange to show for, when corporate releases a statement regarding the state of gambling in the land down under, you can be sure the business world pays attention.
This is precisely what happened when SkyCity Entertainment Group’s Managing Director, Evan Davies told a Trans Tasman Business Circle lunch that it is only a matter of time that large corporate acquisitions and mergers begin to go down amongst the large Australasian gambling companies and casino operators. Evans felt confident in saying that it is not a question of whether such mergers will take place, but rather a question of when they will take place. His prediction is that things will start shaking up soon, which he says SkyCity has no intention instigating.
When asked if he knew of any other gambling companies who were considering on merging, Evans answered in the negative. He did say, however, that it is inevitable for the gaming giants in Australia to start responding in new and inventive ways to the betting hungry trans-Tasman market. He pointed out that such business deals would help to balance the regulatory practices in the region, and that only those gambling companies with committed management teams would benefit and grow.
One thing is certain: The gambling and investing world in the Australasia market is paying very close attention to all the large market-listed gaming companies in that region. Financial analysts can be certain that any cross party talks will be monitored very closely in the coming weeks and months.
Online Gambling Threatens French Monopoly
When the going gets tough the tough get going, and that’s just what PMU, a French government-sanctioned gambling monopoly is doing. Distressed by the advent of internet gambling, they have found and resurrected a law that they hope will stop foreign internet gambling from encroaching upon their territory.
PMU, which stands for Pari Mutuel Urbain, a government-sanctioned gambling monopoly, has dug up a 100-year-old law, written in 1891, in its efforts to prohibit foreign internet gambling from invading and taking over its territory. The law was originally intended to serve as a more viable alternative to an out-and-out prohibition on gambling, and it was this law itself that actually paved the way for the establishment of PMU and prevented non-government-sanctioned entities from taking over or operating gambling casinos! 100 years later, the issue has returned in the form of internet gambling.
On the other side of the argument are the companies who say PMU is violating international trade agreements. Sporting Bet and Stanley International (based in Britain), Bet and Win (Gibraltar), and Mr. Bookmaker (Malta) have been targeted by PMU in PMU’s efforts to ban them, but these companies are not planning to give in without a fight. They have all vowed to battle the ban that PMU seeks.