Kingsley Bartholomew is a rock star in the world of gambling, where followers seek his advice for a winning edge. 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. Tabcorp and former chief executive Adam Rytenskild reached a multimillion dollar settlement over his abrupt sacking by the board. Political and Legal casinos in Australia industry sources expect Communications Minister Anika Wells to crack-down on illegal offshore gambling websites.

The Nevada gaming regulator had accused Ainsworth Game Technology’s chief executive of being hostile, arrogant, and misleading. Lifting the minimum age to use social media won’t be enough to protect older teenagers from trying online gambling, the former Tabcorp chief executive says. The plan was outlined to staff by the gaming group’s new chief executive Bruce Mathieson jnr, and will lead to hundreds of positions being cut. 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. A blistering 90-minute interrogation by Las Vegas’ gaming regulator accused the gaming chief executive of being hostile, arrogant and misleading.

• The British bookmaker said about 120 positions in Australia and New Zealand would go as it tries to reset the business after a change of management.
• Kingsley Bartholomew is a rock star in the world of gambling, where followers seek his advice for a winning edge.
• Under the deal to offload the prime property to the billionaire dynasty, guests at the Blackstone-owned casino group will still be able to access the course.
• Denise Coates has retained her title as one of the world’s best-paid executives, even as her gambling empire’s earnings slumped.
• Lifting the minimum age to use social media won’t be enough to protect older teenagers from trying online gambling, the former Tabcorp chief executive says.

Poker machines

Chief executive Steve McCann said the casino was losing high-spending customers who are not criminals because of probity checks that they feel are intrusive. 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. Denise Coates has retained her title as one of the world’s best-paid executives, even as her gambling empire’s earnings slumped. Mounties, which owns 10 venues across NSW, is the biggest club owner in the state by gaming machine profit.

The Australian Financial Review Magazine

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