G'day punters, journos, high rollers - casino whales, gambling millionaires and billionaires, entertainment news junkies, media tycoons, politicians, insiders, outsiders, ... one and all. You know who you are. Today we take a close look at what's news in the world of Australian and Oriental casino and media whales. We've got James Packer, Rupert Murdoch, Stanley Ho and more. Media Man and Gambling911 probe the sector with a report that is right on the money...
James Packer; Australian Gambling's Favorite Son...
We like him, and so should you. He is the ever rising gambling and media powerhouse of the Asia Pacific region, and Australia's undisputed casino king. Yep, he's 'Our James'. Yeah, we are shareholders in Crown Limited and Ten Network too, but we've always been up front about it. What's news with Packer? Glad you asked...
Packer Earnings?...
James Packer: the executive chairman of Crown Limited was valued at $4.1 billion by Business Review Weekly last year but drew no directors fees from the casino company or Consolidated Media Holdings. It was his old man Kerry, who started initiative. Crown offered up JP $112 million of dividends in 2010 whilst CMH provided $46 million so we guess a salary is not required when you have an annual income of $158 million.
Stanley Ho (Update)
More Twists And Turns In War For Casino Tycoon's Millions...
Family members involved in a dispute with unwell casino mogul Stanley Ho over ownership of his gambling empire said he has dropped his lawsuit against them, but a law firm representing the billionaire denied it Monday. It's yet another twist in a family feud that erupted last week over who will control Ho's stake, worth about $1.6 billion, in his casino company in Macau, the world's most lucrative gambling market.
Ho, who was hospitalized for seven months after reportedly undergoing brain surgery in August 2009, has 16 surviving children by four women he calls his "wives." The unfolding drama highlights a power struggle between different branches of the family for control of his casino empire. The families of Ho's second and third wives said late Sunday that Ho "does not see any point" in going through with the legal action filed last week, which alleged that the shares were improperly transferred from Ho to them. The two families released a letter written in Chinese purportedly signed by Ho in which he said that he is dropping the "unnecessary steps of legal procedures," which he had taken because of a recent lack of understanding and communication. But law firm Oldham, Li and Nie said it is going forward with the lawsuit, saying Ho confirmed his wishes to "take all available action" to ensure that his assets are divided equally among the families of his four wives. "His wishes are to continue to pursue this matter," senior partner Gordon Oldham said in comments broadcast Monday on a local cable television news channel. The controversy erupted a week ago when Hong Kong-listed casino operator Sociedade de Jogos de Macau announced that Ho, who owns roughly 18 percent of the company through a series of holdings, transferred the stake to his third wife and five children from his second wife. Oldham said Ho believed the transfer was improper, while the family members released documents they said proved he agreed to it. Oldham then filed suit to reclaim the assets. At one point, Ho appeared on television with his third wife and one of their daughters to say he was dropping the suit. But Oldham said Ho told him later he was pressured into making the statement.
26th January 2011...
Billionaire Stanley Ho has accelerated the handover of his Macau casino empire to his family, including his son Lawrence, a partner in the Melco Crown Entertainment joint venture with James Packer. Ten months after leaving hospital, Mr Ho, 89, has given a 31.7 per cent stake in Sociedade de Turismo e Diversoes de Macau (STDM), the parent company of Asia's largest casino operator, SJM Holdings, to two companies owned by members of his family. SJM shares fell sharply after the announcement in Hong Kong on concern the transfer may affect decision making at the casino company. Mr Ho, who held a gambling monopoly in Macau for four decades until 2004, was discharged from hospital last March after seven months and two operations. "He's been the real strength," said Andrew Sullivan at OSK Securities Hong Kong. "Now, instead of dealing with Stanley, you may deal with a lot more people. It introduces a huge element of uncertainty in what is already a cut-throat business." SJM stock closed 4 per cent lower at $HK13.80 ($1.78) after earlier falling nearly 9 per cent. The stock had more than tripled in the past year. The stake in STDM will be held by a company called Lanceford. Action Winner Holdings will hold a 50.55 per cent stake in Lanceford and Ranillo Investment will have 49.45 per cent. Action Winner is owned by Mr Ho's third wife, Chan Un-chan, and Ranillo by Mr Ho's children Pansy, Daisy, Maisy, Josie and Lawrence. ''Stanley Ho is getting old,'' said Victor Yip, an analyst at UOB-Kay Hian. "(This) is part of his plan to distribute his wealth to family members. SJM's daily operations are already handled by Ho's assistants." SJM has a market share of 32.6% in Macau, the world's biggest gambling hub and the only place in China where casinos are legal. Melco Crown, a joint venture between Lawrence Ho's company and James Packer's Crown, has a market share of 11.7 per cent. SJM runs 20 casinos in Macau, including its flagship Casino Lisboa. Casino revenue in Macau could rise to $US30 billion this year as visitors from mainland China increase. Last year's rise of $US8.6 billion is 50% more than the total revenue for the Las Vegas Strip for all of 2010.
Gambling And Media Man Pay Packets Of Aussies (and Murdoch Senior)...
Bruce Mathieson: the 25% owner of the giant ALH pokies joint venture controlled by Woolworths is valued by BRW at $1 billion, but the retailer has declined to reveal what, if anything, the veteran publican is paid to run the operation. His package has never been disclosed in a Woolworths remuneration report over the five years he's been in charge so it must be relatively modest.
Rupert Murdoch & sons: BRW does not put a price on RM because he is actually a US citizen, but his family's controlling stake in News Corporation is worth roughly $5.5 billion and carries no debt. The News Corp executive chairman was paid a total of $US22.72 million in 2009-10, down a tad from a high of $US30 million in 2007-08. Rupert's youngest son James Murdoch pocketed $US10.3 million last year, but at least this was down from $US17.1 million in 2007-08.
Lachlan Murdoch: Elder son Lachlan Murdoch is now a non-executive director who snatched US1.8 million in 2009-10 thanks to an adjustment to his severance package, so the total salary take for the Murdoch family was a sweet $US34.8 million. Just imagine what other benefits come with being a Murdoch!
Gina Rinehart: she (not he) is the mining heiress (she's not that keen on the tag) is valued at $4.75 billion but her only public board followed on from the purchase of 10% stake in Ten Network Holdings last year. Ten advises that the board is yet to determine what, if anything, billionaire directors such as James Packer and Gina Rinehart will be paid. At least it's not a "No Way". The other non-executive directors averaged about $90,000 in 2010, which is chicken feed for the likes of 'Our Gina', yeah, she gets a loveable nickname too. Welcome to the inner fold GR!
James Warburton And Friends...
Nine Questions Ten Board Of Directors Advertising Figures...
The Nine Network's managing director Jeffrey Browne has written to the board of Ten Network Holdings, in a bid persuade the broadcaster to reverse its decision in pulling out of free-to-air television's revenue share figures. According to The Australian, the request will be considered by all board members, including the recently appointed James Packer, Win Television owner Bruce Gordon, and mining executive Gina Rinehart. Together, they have the power to override the decision made by Ten's chief executive Grant Blackley. Ten withdrew from the collection of data in July, citing "serious concerns regarding the accuracy and allocation of metropolitan commercial television revenue data". "The reason for our decision was detailed last year and our position has not changed," a Ten spokesman said. While accountancy firm KPMG Australia collects television advertising revenue, it does not audit the figures. Ten executives believed that Nine, who flatly deny the suggestion, overstated revenue for clients dealing directly with the network. Last year's figures released by Free TV Australia, showed that Ten's share of the television advertising market fell well short of Blackley's 30 per cent forecast. It instead positioned third with 28.9 per cent, well behind Nine on 32.2 percent and market leader Seven on 37.9 per cent. The three commercial networks rarely see eye-to-eye on television ratings or revenue. Television ratings reports, which were released at the end of the 2010 survey period, saw each network quote figures against differing benchmarks in order to highlight their performance. Each network claimed victory, but results depended on how they measured success in a changing television landscape. Meanwhile, in what could be described as a rarity, Seven and Nine appear to have agreed on the issue. "The debate about performance would be far more objective if all networks submitted to the decision of...KPMG," said Browne. Similarly, Seven's chief of sales and digital officer, James Warburton, said, "It's a shame not to have an official industry number." But it wasn't long before the rivals were back arguing over the final results, with each network preferring different research houses. Nine's provider leaves out figures for direct bookings, whilst Seven's provider Adex does not include coverage for digital multichannels. True to form, both networks went on to claim a dominant performance in the 2010 ratings race, seemingly forgetting about Ten in order to take another shot at each other.
Online Casinos, Online Poker and Sports Betting...
Ok readers, we hear you... you also want to know some of the best places to play online (that accept Aussies) if your in or around the Asia Pacific - Australia (including Tassie) and New Zealand, so here it is...
PartyCasino.com
Captain Cooks Casino
Betfair (sports betting only)
PKR.com (poker, slots including Marvel slot games and sports betting)
PartyPoker.com (online poker at one of the world's most respected poker rooms and gaming brands)
Profiles
Australian Casinos
World Casino Directory
Global Gaming Directory
Casino Travel
Casinos
Australia
Media Man and Gambling911 remind our readers to keep the following in mind:
Take the time to research and learn games before placing down money
Media Man, Casino News Media and Gambling911 are website portals. Not casinos as such, however are recognised as world leading websites that cover the sector and act as central points to games, news, reviews and more.
Readers... er, punters, how did you like our report? Tell us in the forum.
If you have a bet, please bet with your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. Gaming is just one of a dozen sectors covered
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4/9/11
Kiwi Christchurch Casino Quake Staff Fail Redundancy, by Greg Tingle - 9th April 2011
New Zealand land based casino news is the order of the day. Christchurch Casino workers have failed in their attempt to snatch a larger redundancy payout. Media Man and Gambling911 check out the employment and legal scene in New Zealand...
Financial and emotional aftershocks are still be felt by the casino sector after a series of earthquakes that rocked the Asia Pacific - Japan and New Zealand region.
Christchurch Casino workers are feeling disappointed and even depressed after having failed attempt to get a bigger redundancy payday.
In excess of 500 formally happy and motivated casino employees were offered redundancy at the central Christchurch casino last weekend, which was badly damaged in the February 22 quake and has stayed closed ever since the act of mother nature.
Anyone who wants to stay at the casino will be paid their holiday pay as either a weekly amount or in a "lump sum". Simply put, they will remain as employees of the land based casino on leave without pay until the the gambling den opens again.
The SFWU (Service and Food Workers' Union), which reps for 100 plus casino workers, has a meeting with the casino's managers on Thursday.
SFWU strategic industry boss Len 'Razor' (MM tag) Richards said workers were sombre but firm in their desire about securing a more attractive redundancy package.
The union power that be were also asking for continued pay for employees that choose to stay on until the casino opens again.
However, he advised management was not prepared to increase the amount of redundancy pay for staff, but did agree to request for a government wage subsidy.
Due to a private insurance deal and policy in place, the land based casino has not relied upon the $1.5 million government subsidy available for quake-affected businesses.
Richards stated that the union has contacted earthquake recovery minister Gerry Brownlee to request assistance to help pay workers who remain employed.
SkyCity, half owner of the famous Christchurch Casino, has projected a $130 million plus profit this year. It's not known how much financially the quake cost Christchurch Casino or SkyCity.
Christchurch Casino top sheep er top dog...chief executive Brett 'Ask Him' (MM satire) Anderson said about 70% of employees have indicated they will stay with the company rather than take the offered redundancy.
He said a number of employees are also being offered jobs offshore.
Anderson elaborated "I'm getting phone calls from Australia looking for our people and likewise all over New Zealand, and a few of them have spread their wings. More than a few have gone over to the Gold Coast. It's a lot warmer, it's a lot more stable, you can swim in the sea, the pay rates are better."
Anderson said he still does not know when the casino will reopen.
Employees have a deadline until Monday to decide whether they will take the redundancy package or stay on. Yep, it's the money or the box.
Workers who have not contacted the company by showdown at 5pm on Monday will be deemed to have left their jobs and will be paid out a four-weeks-notice payment, along with their annual leave entitlements. Casino workers, did you get that. D Day is approaching.
A Media Man spokesperson said "In the current global economy anyone with a decent job should be grateful, especially in the casino or gaming sector. Well done to Christchurch Casino management for doing their utmost to assist in their difficult times. Employers will always want to ask for more... its in the nature. Land based casinos generally remain popular around the world so good staff will always be in demand."
Media Man and Gambling911 wish all parties well with their dealings, and hopefully some win - win - wins will still be possible.
Punters, er readers, stay glued to Media Man reports via Gambling911 for more "can't miss" information on Australian, New Zealand and global casino news, wars, and general land based and online casino news.
Media Man Profiles
New Zealand
Australian Casinos
Casinos
So, whether you prefer land based casinos or online, please take precautions. As always, know the odds, bet with your head, not over it, and have fun. Good luck.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming.
Website Network
Media Man International
Media Man
Media Man Australia
Media Man Canada
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Global Gaming Directory
Financial and emotional aftershocks are still be felt by the casino sector after a series of earthquakes that rocked the Asia Pacific - Japan and New Zealand region.
Christchurch Casino workers are feeling disappointed and even depressed after having failed attempt to get a bigger redundancy payday.
In excess of 500 formally happy and motivated casino employees were offered redundancy at the central Christchurch casino last weekend, which was badly damaged in the February 22 quake and has stayed closed ever since the act of mother nature.
Anyone who wants to stay at the casino will be paid their holiday pay as either a weekly amount or in a "lump sum". Simply put, they will remain as employees of the land based casino on leave without pay until the the gambling den opens again.
The SFWU (Service and Food Workers' Union), which reps for 100 plus casino workers, has a meeting with the casino's managers on Thursday.
SFWU strategic industry boss Len 'Razor' (MM tag) Richards said workers were sombre but firm in their desire about securing a more attractive redundancy package.
The union power that be were also asking for continued pay for employees that choose to stay on until the casino opens again.
However, he advised management was not prepared to increase the amount of redundancy pay for staff, but did agree to request for a government wage subsidy.
Due to a private insurance deal and policy in place, the land based casino has not relied upon the $1.5 million government subsidy available for quake-affected businesses.
Richards stated that the union has contacted earthquake recovery minister Gerry Brownlee to request assistance to help pay workers who remain employed.
SkyCity, half owner of the famous Christchurch Casino, has projected a $130 million plus profit this year. It's not known how much financially the quake cost Christchurch Casino or SkyCity.
Christchurch Casino top sheep er top dog...chief executive Brett 'Ask Him' (MM satire) Anderson said about 70% of employees have indicated they will stay with the company rather than take the offered redundancy.
He said a number of employees are also being offered jobs offshore.
Anderson elaborated "I'm getting phone calls from Australia looking for our people and likewise all over New Zealand, and a few of them have spread their wings. More than a few have gone over to the Gold Coast. It's a lot warmer, it's a lot more stable, you can swim in the sea, the pay rates are better."
Anderson said he still does not know when the casino will reopen.
Employees have a deadline until Monday to decide whether they will take the redundancy package or stay on. Yep, it's the money or the box.
Workers who have not contacted the company by showdown at 5pm on Monday will be deemed to have left their jobs and will be paid out a four-weeks-notice payment, along with their annual leave entitlements. Casino workers, did you get that. D Day is approaching.
A Media Man spokesperson said "In the current global economy anyone with a decent job should be grateful, especially in the casino or gaming sector. Well done to Christchurch Casino management for doing their utmost to assist in their difficult times. Employers will always want to ask for more... its in the nature. Land based casinos generally remain popular around the world so good staff will always be in demand."
Media Man and Gambling911 wish all parties well with their dealings, and hopefully some win - win - wins will still be possible.
Punters, er readers, stay glued to Media Man reports via Gambling911 for more "can't miss" information on Australian, New Zealand and global casino news, wars, and general land based and online casino news.
Media Man Profiles
New Zealand
Australian Casinos
Casinos
So, whether you prefer land based casinos or online, please take precautions. As always, know the odds, bet with your head, not over it, and have fun. Good luck.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming.
Website Network
Media Man International
Media Man
Media Man Australia
Media Man Canada
Media Man Games
Media Man Brand
Media Man Network
Casino News Media
Poker News Media
Global Gaming Directory
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