Topic Gaming & wagering Australian Financial Review

The popularity of prediction markets has exploded, and providers are looking to boost liquidity so they can take on gambling groups with multi-leg bets. Kjerulf Ainsworth has made the move to stop an off-market takeover by major shareholder Novomatic. The pokies manufacturer is planning to release new hardware in Europe and Asia, which it believes could take further market share from competitors. The strategy presented to hoteliers and clubs says the bookmaker will set aside $50 million for betting inducements and $80 million to overhaul its terminals. It was a series of fast-falling cards at the company, with Steve McCann’s resignation resulting in two exits and a surprise chairman. While the Sydney hedge fund’s bet on poker machine maker Light & Wonder has been an enormous success, other big positions have performed poorly for months.

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Tabcorp and former chief executive Adam Rytenskild reached a multimillion dollar settlement over his abrupt sacking by the board. Political and industry sources expect Communications Minister Anika Wells to crack-down on illegal offshore gambling websites. In a wide-ranging interview, the billionaire businessman also takes aim at the NSW casino regulator, saying it is a “one of the miracles of life” he has a job. The Melbourne venue is seeking to push through pay cuts of between 16 and 32 per cent for new hires as it fails to stop union ballots for industrial action. Companies can ask for reviews via automatic invitations. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.

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Laundys snap up $13m NSW Riverina pub despite ‘too much red tape’

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