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Saturday, August 13, 2011

Multi Currency Casino Website Network Updated

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Modest growth expected for gaming - 13th August 2011

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Australian gambling companies are expected to report modest growth in earnings this reporting season as consumers rein in their discretionary spending and casino operators face tough competition from overseas.

"Gambling is part of discretionary expenditure, so I'm anticipating that gambling expenditure will be down," Morningstar gaming analyst Ross MacMillan said.

Earnings in the gambling sector may grow two or three per cent, but "It's going to be very subdued earnings growth if we see any at all," Mr MacMillan said.

The outlook for the current financial year was expected to be very cautious and limited in detail.

Mr MacMillan anticipated most companies would hold off providing guidance until their annual general meetings when they would have at least three months of performance under the belt.

The big issue for Tatts Group and Tabcorp would be the source of future growth, he said.

Tatts and Tabcorp hold a duopoly over poker machines in Victoria outside of the Crown casino in Melbourne. The Victorian poker machine licence expires in 2012.

Tabcorp was recently awarded a new wagering and betting licence in Victoria, winning it over Tatts. The wagering licence allows Tabcorp to offer wagering on thoroughbred, harness and greyhound racing and other sporting events.

Lower gambling expenditure would affect revenues, so gambling companies would have to look at cutting costs, Mr MacMillan said.

He said Tatts would be looking to strip out as many costs as possible from the NSW lottery business it acquired in March 2010.

Tatts also would think carefully about the South Australian lottery business, which is likely to come up for sale in the next 18 months.

Mr MacMillan said the main issue affecting the Tabcorp results would be the recent demerger of its casino operations - now known as Echo Entertainment Group - which would make Tabcorp's accounts "messy".

An issue facing casino operators Crown and Echo was the size of the capital expenditure needed to revamp their casinos so they could compete with big new casino-resorts in Singapore and attract more VIP gamblers (high rollers) from China.

"This is a real issue: whether it (capital expenditure) will continue in the future," Mr MacMillan said.

Fat Prophets gaming analyst Greg Fraser said consumer spending had been weak and was likely to be reflected in gaming results at the "grind end" of the market.

Mr Fraser said he expected a reasonable result from Tatts Group.

Although a larger proportion of Tatts' earnings now came from lotteries, gaming operations were likely to attract attention because that's where uncertainty lay.

"Having missed out on the Victorian wagering licence, it'll be interesting to see what they (Tatts) say about their future now and what their plans might be," Mr Fraser said.

Tabcorp also needed to detail its plans for the new Victorian wagering licence and explain how the company would replace gaming machine earnings once they disappear in 2012, he said.

Among the casino operators, Crown's result was likely to be stronger than that of Echo Entertainment, largely because Crown had spent its money on refurbishments and re-organising its gaming floors sooner and, arguably, more effectively than Echo.

Much of the Star City refurbishment was aimed at non-gaming activities, so the casino's success over the next year should be measured by the increase in visitation numbers.

"In that sense, it's the outlook statement for Echo this time that is perhaps more important than this year's financial result," Mr Fraser said.

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Thursday, August 4, 2011

Casino News Media: What's The Craic? THE PKR World Poker Tour® Ireland Set For January 2012

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LOS ANGELES – 2nd August 2011 -- World Poker Tour ® is thrilled to announce a new date for its historic 10th season, as the main tour stops on the Emerald Isle for the very first time. The PKR.com WPT Ireland, featuring a €2,500 buy-in (10% withheld), will take place at the legendary City West Hotel in Dublin from Thursday 5th January – Sunday 8th January 2012.

WPT Ireland is the first event in a three-year deal inked between the World Poker Tour and leading next generation online poker room PKR.com, renowned for its thriving community and innovative 3D software.

As well as being a major tour stop that will award a $25,500 seat for the WPT World Championship, the PKR.com WPT Ireland will also incorporate the popular Irish Poker Championships, formerly held in Galway in early January. The €750 IPC Event will be part of a competitive series of side events to be announced shortly. Additionally, qualifiers coming through PKR.com will also win exclusive access to the PKR WPT Experience. Continuing on from their popular series of events during the WSOP in Las Vegas, players will now get to enjoy great parties and special events in Dublin around the WPT Main Event.

Adam Pliska, President of the World Poker Tour said: “We are excited to be join with our partner PKR.com to bring the World Poker Tour to Ireland for the very first time. The history and heritage of poker in the Emerald Isle make it a tremendous tour stop and the beautiful City West Hotel and all of its top-notch accommodations will make this a memorable event.”

Simon Prodger, Marketing Director of PKR said: “We are delighted to partner with the World Poker Tour to bring an event to Ireland for the very first time. Dublin will be a fantastic tour stop and we think the combination of high quality poker and the Irish spirit of fun will draw players from all over the world.”

Online qualifiers get underway on PKR.com later this month.

The most recent stop on the World Poker Tour, WPT Slovenia, presented by Goldbet.com, was won by Slovenia’s Miha Travnik, a 20-year old playing in his first major live tournament, who took down $144,399, including a $25,500 entry to the 2012 WPT World Championship at the Bellagio. Next month the highly anticipated Legends of Poker kicks off WPT Season X in the US on August 25 at the Bicycle Casino outside Los Angeles. Prior to shuffle up and deal, WPT will hold a press conference announcing a variety of new initiatives and developments for Season X, as well as award World Poker Tour Season IX Player of the Year Andy Frankenberger his POY trophy.

ABOUT WORLD POKER TOUR
World Poker Tour (WPT) is one of the most recognized names in internationally televised gaming and entertainment with brand presence in land-based tournaments, television, online and mobile. Leading innovation in the sport of poker since 2002, WPT ignited the global poker boom with the creation of a unique television show based on a series of high stakes poker tournaments. WPT has broadcast globally in over 150 countries and territories and is currently airing its all-new ninth season on FSN in the United States. Season 9 of WPT is sponsored by ClubWPT.com, a unique online membership site which offers inside access to the WPT as well as a sweepstakes-based poker club and is available in 35 states across the U.S. WPT participates in strategic brand license, partnership and sponsorship opportunities. WPT is a subsidiary of bwin.party digital entertainment plc. For more information, go to WorldPokerTour.com

ABOUR PKR (WWW.PKR.COM)
PKR is a revolutionary new concept in online poker that has changed the way the game is played. Featuring stunning real-time 3D graphics and a uniquely engaging and immersive gaming system, PKR brings an unparalleled and previously unseen level of realism to online poker. Developed by some of the brightest stars in the video games and poker industries, PKR continues to be the most innovative poker room in the world.

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