It's said that the racecourse is a sunny place for shady characters.
We probe Australian racing down under and learn that shady happenings in racing are certainly not restricted to the race track. Racecorse workers superannuation savings have been left in the lurch. Media Man and Gambling911 crack the whip at Aussie racing which already had plenty of challenges before the latest black mark to hit their green and gold place in the sun...
Australian racing and media identity, Alan Jones, recently spoke of challenges, opportunities and the need for unity at the 33rd Asian Racing Conference in Sydney. Little did he know of a new challenge very much related to the employment and sustainably of Australian racing.
The superannuation earnings of hundreds of racecourse workers have been dragged into in a $123 million fraud that may become the biggest super theft in Australian history... the super fraud equivalent of the Fine Cotton Affair and Great Bookie Robbery. With the world's financial markets in the deep end, some being probed by the Australian and United States government, I guess we shouldn't be surprised. There's no 'Underbelly' hype here friends, just the unfortunate facts surrounding the further downward spiral of the racing and financial services industry.
Tabcorp's New South Wales racecourse casuals wagering workers say they have not been advised how much money they are down after their Astarra Superannuation Fund was frozen by financial regulators in October last year.
A staff member for 33 years, Rosemary Walker, 72, who works at Randwick Racecourse, asks how Tabcorp could have approved Astarra as a suitable company for her superannuation.
"I'm puzzled as to why we started off in a reputable fund when we were with (former employer) AWA and ultimately we finished up in Astarra," she said.
The losses are understood to be in the region of 10,000 superannuation investors after their investments were placed with Albury-based fund manager Trio Capital. Trio
managed more than $400 million in investments including the Astarra Superannuation.
Last Friday New South Wales Supreme Court justice, George Palmer, ruled that a separate offshore hedge fund managed by Trio Capital had all the signs of a "fraudulent scam" as he detailed "inherent vices" in Trio Capital's business model.
The hedge fund entitled Astarra Strategic moved some $123 million in "investments" through the British Virgin Islands using companies based in obscure Caribbean tax havens including Belize, Nevis, St Lucia and Anguilla.
Justice Palmer advised to wind up the scheme and wrote of the matter "If one wants to conduct financial operations dishonestly or illegally - then it is to these jurisdictions that one goes to incorporate puppet companies with puppet directors in order to operate fraudulent schemes and to move money around the world in secrecy.".
As of time of publication regulators have been unable to locate any funds, nor have charges been laid upon perpetrators.
Interestingly, Astarra Super is not the corporate superannuation fund used by official Tabcorp staff.
Tabcorp spokesman, Bruce Tobin, advised the company had written to all staff affected and was working with the union.
Justice Palmer said these sobering words of the matter "that there was a very high prospect that the funds would simply disappear into the ether - as has almost certainly happened in this case".
He said the use of the tax havens had not been disclosed in Trio Capital's statements to investors.
Superannuation losses from Astarra Strategic would represent the largest superannuation fraud or theft since current super laws were put in place 1993.
James Packer 50% owned Betfair will be glad this isn't a mark on their name. The matter may potentially assist seeing additional (quality) companies enter the Aussie racing and financial sector, be it PartyGaming or Virgin. Certainly the current mix is not quite right, based upon the latest scandal. Word of the street is its time for some "new blood" to shake things up and put the old guard and crooks on notice.
It's unfortunate the late 'Big' Tim Bristow and George Freeman of 'Underbelly' fame are not around to sort out these crooks who have attacked everyday Australians. Bristow aka 'Earthquake' would have likely seen them off at what he called 'The See You Later Club', understood to be have somewhere off the heads of Palm Beach on Sydney's northern beaches...something about concrete blocks at the bottom of the Pacific Ocean!
The crooks are not totally off the hook yet... the matter happening to the lifeblood of Australian horse racing is going to put some noses out of joint. Some of those effected are bound to have some very strong industry connections... both on the light side and the dark side. "Fixers" and "Can Do" types are part of the industry, and there's certainly motivation for the out of pocket racing staff to call upon extra powers of persuasion if needed. Add this to the 'Catch Me If You Can' file, already bursting at the seams with Aussie Daniel Tzvetkoff, Canadian Calvin Ayre, and Yankee Howard Lederer jockeying for position. All good fodder for an Australian and international themed version of 'Underbelly'. Ya wouldn't be dead for quids. Good hunting and happy punting.
*Greg Tingle is a special contributor for Gambling911
*Media Man is primarily a media, publicity and internet portal development company
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Global Gaming Directory
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Tuesday, April 20, 2010
Tuesday, April 13, 2010
Asian Racing Conference In Sydney - The Great Debate, by Greg Tingle - 13th April 2010
The Australian - Asia Pacific gaming and racing industry developments maintain fever pitch.
Media Man and Gambling911 probe the situation down under...
The Australian horse racing industry is traditionally the bread and butter of Aussie betting, going back to the good old days when both illegal bookies like Eric Frazer Tingle (relation) and wheeler dealers like the late George Freeman (Underbelly fame) shared in a slice of the action with the once otherwise monopoly known as the TAB (Totalisator Agency Board). Our old mate "Big" Tim Bristow, who we understand gets referred to in books such as 'Not For Publication' and 'The Gambling Man' also played a role, which could be described as "unofficial" or as an "enforcer". In the old days folks often paid to avoid "bad luck" and of course "insurance" against risk.
Things have progressed since the 1950-80 golden like era, however politics, legals, big bucks and an 'Underbelly' still remain, albeit in different shades.
Today saw the 33rd Asian Racing Conference being held in Sydney.
The stellar event played host to a rivalry far more fierce than that between racing king Bart Cummings and queen Gai Waterhouse.
"The Great Debate", sees Racing NSW chief executive Peter V'landys go tooth and nail with Betfair co-founder Edward Wray, reports Fairfax Media.
Betfair, an internet-based betting exchange, half-owned by casino king James Packer (like half of Australia it seems at times), has launched a legal challenge against the racing authority's decision to charge it fees based on turnover rather than profit.
The arguments are complex, but there's millions, if not billions at stake.
Racing NSW has put $60 million bucks aside to return to corporate bookies should they lose, with the verdict due later this month.
Betfair is hoping Federal Court judge Nye Perram is more impartial than the gent in charge of today's debate, Australian Racing Board chief executive Andrew Harding, advise Fairfax Media. A bit of history... at a similar racing conference in 2004, Harding gave an impassioned presentation billed "Australia Against Betfair."
Punters, times are a changing, as Tycoon's such as James Packer are almost unstoppable at the moment, and Aussie's are open to betting alternatives.
Something tells us that both state and federal governments are going to be key factors, as will "legal eagles", and not to any surprise, Betfair can and do engage the best that money can buy.
The late news... Betfair is also aiming to provide an online poker and online casino service to Australians. Rivals such as PartyGaming and Centrebet continue to demonstrate that they enjoy a punt online, not just restricted to the four legged variety... the horses and the doggies, oh, or the occasional Pink Pigeon birdies (yet another Aussie fair dinkum betting event that our birdie friend tells us Prime Minister Kevin Rudd and Senator Stephen Conroy wouldn't mind seeing censored, or shutdown completely).
Rumor of the week... Illegal Australian gambling dens and betting rings to make a comeback "down under", as censorship threatens (and pisses off) punters. All good fodder for 'Underbelly' 5 and 6. Aussie Aussie Aussie, Oi Oi Oi, Aussie Oi Aussie Oi Aussie Aussie Aussie, Oi Oi Oi!
*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 own and operate over 20 website portals including Racing News Media http://www.racingnewsmedia.com
*The writer participates in the Betfair affiliate program via agency DGM and is a shareholder in Crown Casino
Website Network
Media Man International
Media Man Australia
Media Man Canada
Media Man Asia
Media Man Casino
Racing News Media
Casino News Media
Global Gaming Directory
Sports Entertainment News
Australian Sports Entertainment
Media Man and Gambling911 probe the situation down under...
The Australian horse racing industry is traditionally the bread and butter of Aussie betting, going back to the good old days when both illegal bookies like Eric Frazer Tingle (relation) and wheeler dealers like the late George Freeman (Underbelly fame) shared in a slice of the action with the once otherwise monopoly known as the TAB (Totalisator Agency Board). Our old mate "Big" Tim Bristow, who we understand gets referred to in books such as 'Not For Publication' and 'The Gambling Man' also played a role, which could be described as "unofficial" or as an "enforcer". In the old days folks often paid to avoid "bad luck" and of course "insurance" against risk.
Things have progressed since the 1950-80 golden like era, however politics, legals, big bucks and an 'Underbelly' still remain, albeit in different shades.
Today saw the 33rd Asian Racing Conference being held in Sydney.
The stellar event played host to a rivalry far more fierce than that between racing king Bart Cummings and queen Gai Waterhouse.
"The Great Debate", sees Racing NSW chief executive Peter V'landys go tooth and nail with Betfair co-founder Edward Wray, reports Fairfax Media.
Betfair, an internet-based betting exchange, half-owned by casino king James Packer (like half of Australia it seems at times), has launched a legal challenge against the racing authority's decision to charge it fees based on turnover rather than profit.
The arguments are complex, but there's millions, if not billions at stake.
Racing NSW has put $60 million bucks aside to return to corporate bookies should they lose, with the verdict due later this month.
Betfair is hoping Federal Court judge Nye Perram is more impartial than the gent in charge of today's debate, Australian Racing Board chief executive Andrew Harding, advise Fairfax Media. A bit of history... at a similar racing conference in 2004, Harding gave an impassioned presentation billed "Australia Against Betfair."
Punters, times are a changing, as Tycoon's such as James Packer are almost unstoppable at the moment, and Aussie's are open to betting alternatives.
Something tells us that both state and federal governments are going to be key factors, as will "legal eagles", and not to any surprise, Betfair can and do engage the best that money can buy.
The late news... Betfair is also aiming to provide an online poker and online casino service to Australians. Rivals such as PartyGaming and Centrebet continue to demonstrate that they enjoy a punt online, not just restricted to the four legged variety... the horses and the doggies, oh, or the occasional Pink Pigeon birdies (yet another Aussie fair dinkum betting event that our birdie friend tells us Prime Minister Kevin Rudd and Senator Stephen Conroy wouldn't mind seeing censored, or shutdown completely).
Rumor of the week... Illegal Australian gambling dens and betting rings to make a comeback "down under", as censorship threatens (and pisses off) punters. All good fodder for 'Underbelly' 5 and 6. Aussie Aussie Aussie, Oi Oi Oi, Aussie Oi Aussie Oi Aussie Aussie Aussie, Oi Oi Oi!
*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 own and operate over 20 website portals including Racing News Media http://www.racingnewsmedia.com
*The writer participates in the Betfair affiliate program via agency DGM and is a shareholder in Crown Casino
Website Network
Media Man International
Media Man Australia
Media Man Canada
Media Man Asia
Media Man Casino
Racing News Media
Casino News Media
Global Gaming Directory
Sports Entertainment News
Australian Sports Entertainment
Wednesday, April 7, 2010
Casino Cash Rolls In To Australia Political Parties, by Greg Tingle - 8th April 2010
Australian political parties and land based casino operators remain under the spotlight as more revelations about substantial donations from casinos to politics goes public.
Media Man and Gambling911 investigate 'Casino Jack' style, as we explore a new patch of Australia's 'Underbelly'.
From the get go, let it be said that it is not illegal (yet anyway) to make donations to Aussie political parties. Cash and cheques hit their coffers from any number of business sectors, certainly not restricted to the casino, hotel, club and resort sector et al. It's almost part of Australia business culture to cough up dollars to the majority of the political parties.
However, just because something is legal, or illegal for that matter, doesn't mean it is just.
In recent months Labor and Liberal have been inundated with buckets of cash from corporate Australia, and it doesn't get much more corporate that Tabcorp's Star City Casino and Crown Limited's Crown Casino.
Numbers obtained by the NSW Election Funding Authority show state Labor accepted $2.5 million in donations and union affiliation fees between July and December, while the Liberals and Nationals took in $1.9 million. Ah, Jack Abramoff from 'Casino Jack' fame would be proud.
The massive donations are a sign that big business aims win favour and positive history with an incoming Coalition government, the Liberals and Nationals have raised $19.5 million since the 2007 election from the hotels (inc casinos), clubs (pokie heaven), finance, pharmaceutical, lobbyist and property (more casinos) sector.
We've learned that in the same window, Labor snatched $16.5 million to its coffers, some of which is used for television commercials promoting NSW Premier, Kristina Keneally. We alert readers to the fact that Australian TV stations have been extremely quite on the internet censorship debate, while newspapers and radio, and internet forums, have been very vocal, but more on that non - coincidence later, if we're not busy playing a spot of golf with the 'Minister Of Silly Lists' and Censorship... if he's not busy being summoned to a "Please Explain" meeting with Prime Minster Kevin Rudd... (if he's not busy getting an "ear bashing" from U.S President Barack Obama about censorship). Readers, are you following this trail?
The political donations are putting intense pressure on the Australian government to implement recommendations handed down by a parliamentary committee last week, including a cap on donations at just $2000 per political party, group or independent candidate each financial year.
It's no secret that Labor received $115,000 from Star City Casino in the second half of last year, around the same times as the laws regulating the casino were being loosened and its exclusive licence was extended in Parliament. In 2008 Star donated $110,000 just two months before it was granted approval for a $575 million redevelopment, and readers will recall that their budget has just been increased by $100 million or so, which helps build more entertainment rooms, and may even go towards learjets for high rolling VIP's, as they go to "war" with Packer's Crown.
A spokeswoman for Ms Keneally said any suggestion that political donations had influenced concessions that allowed gambling controls and surveillance to be watered down was not correct. "Donations have no impact on the timing of bills going through Parliament.".
Political donations are keenly watched as an indication of which companies and wealthy individuals may be lobbying government. The Australian and international gaming community is watching closely to see what moves PartyGaming and Betfair may make in this space.
PartyGaming famously came to financial terms with the United States Department Of Justice last year to the tune of $100 million or thereabouts. It wasn't a pure donation, however the U.S knew Party had the money, and it was an opportunity for PartyGaming to move forward. PartyGaming and its brands such as PartyCasino and PartyPoker are making strategic moves to return to the U.S market and regulation changes are afoot, just its World Poker Tour is making pro active steps to boost things along with a pending play in the North American - Canadian region, which may see much of the U.S change its stance on igaming, poker tournaments and the like. Last fortnight PartyGaming inked an impressive business deal with France horse racing operator PMU (Pari Mutuel Urbain). PartyGaming also enjoys b2b dealings with such mainstream brands as Marvel Entertainment, Paramount Pictures, Frank Sinatra Enterprises, StudioCanal, Blizard Entertainment, Infinity Ward, Edgar Rice Burroughs, Hasbro, MGM and FremantleMedia. PartyGaming are understood to be in the "good books" of internet giants Google, Yahoo! and Bing!... something that has also served Gambling911 and Media Man International well over the years. Google is currently developing its own advanced web hosting and ISP services in a move that has has generated massive interest from mainstream media, new media and gaming operators.
Back to the pure political news...Figures Gambling911 and Media Man sourced via Fairfax Media and News Limited state the following...
In the second half of last year the biggest donors included: Clubs NSW, which gave $59,000 to Labor and $101,555 to the Coalition; Manildra Group, $40,850 (Labor) and $19,050 (Coalition); property developer Memo Corporation, $36,850 (Labor) and $22,200 (Liberal); and the Independent Retailers Association, $77,820 (Labor) and $9000 (Liberal). The Liberals accepted $57,926 from the Australian Hotels Association and $49,750 from British American Tobacco.
The Opposition Leader, Barry O'Farrell, personally raised $174,650 at 10 fund-raisers held in his name and in his electorate, including raising some $108,100 at the Ku-ring-gai Business Breakfast last September.
Not to be outdone Labor collected in excess of $1 million in "affiliation fees" paid by unions between July and December.
In the coming weeks and months we will continue our probe into the relationships between Australian political parties and casinos, igaming operator, SP bookmakers and the like. Firms on our radar include but are not limited to Betfair, Centrebet, Full Tilt Poker (Easts Roosters NRL team connection), 888 (Warnie's the face of them for Australia), and a few others that will remain nameless for the moment.
Aussie's, anyone taking bets on what Australian land based casino operators are interested to enjoy a spot of golf with Senator Stephen Conroy (Minster of Communications, Censorship and "Silly Lists") Last time a casino exec played golf with our friend cash registers hit the jackpot. Ah, life is full of coincidences, just ask 'Casino Jack', coming soon to a movie theater near you if your an Aussie, Yankee or Kanok, but if your behind "The Great Internet Firewall" Of China, good luck, you will need it.
Tony "The Bruiser" Abbott, stay on Kevin "Bloody" Rudd, we sense Rudd's corner man Conroy is going down for the count as we approach the 12th round of action, broadcast from Sydney to Las Vegas, Macau, Florida and beyond via the internet channel (that no one owns, Australian government included). Special referee Jesse "The Body" Ventura and his 'Conspiracy Theory' actuality TV show remain pro actively interested in the connection between Australian casinos, political parties and proposed internet filter and blacklist initiatives.
Media Man and Gambling911 offer this public service announcement: Bet with your head, not over it, and keep it fun (and that messages is also applicable to Australian political parties).
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. The network attracts approximately 6 million hits per month and has portals in Australia, Canada, Europe, Asia and the United States
*The writer owns shares in Crown Casino
Website Network
Media Man International
Media Man
Media Man Australia
Media Man Canada
Media Man Asia
Media Man Casino
Media Manager International
Casino News Media
Casino News Media.net
Australian Casino News
Poker News Media
Global Gaming Directory
Global Gaming Directory.net
Australian Sports Entertainment
Media Man and Gambling911 investigate 'Casino Jack' style, as we explore a new patch of Australia's 'Underbelly'.
From the get go, let it be said that it is not illegal (yet anyway) to make donations to Aussie political parties. Cash and cheques hit their coffers from any number of business sectors, certainly not restricted to the casino, hotel, club and resort sector et al. It's almost part of Australia business culture to cough up dollars to the majority of the political parties.
However, just because something is legal, or illegal for that matter, doesn't mean it is just.
In recent months Labor and Liberal have been inundated with buckets of cash from corporate Australia, and it doesn't get much more corporate that Tabcorp's Star City Casino and Crown Limited's Crown Casino.
Numbers obtained by the NSW Election Funding Authority show state Labor accepted $2.5 million in donations and union affiliation fees between July and December, while the Liberals and Nationals took in $1.9 million. Ah, Jack Abramoff from 'Casino Jack' fame would be proud.
The massive donations are a sign that big business aims win favour and positive history with an incoming Coalition government, the Liberals and Nationals have raised $19.5 million since the 2007 election from the hotels (inc casinos), clubs (pokie heaven), finance, pharmaceutical, lobbyist and property (more casinos) sector.
We've learned that in the same window, Labor snatched $16.5 million to its coffers, some of which is used for television commercials promoting NSW Premier, Kristina Keneally. We alert readers to the fact that Australian TV stations have been extremely quite on the internet censorship debate, while newspapers and radio, and internet forums, have been very vocal, but more on that non - coincidence later, if we're not busy playing a spot of golf with the 'Minister Of Silly Lists' and Censorship... if he's not busy being summoned to a "Please Explain" meeting with Prime Minster Kevin Rudd... (if he's not busy getting an "ear bashing" from U.S President Barack Obama about censorship). Readers, are you following this trail?
The political donations are putting intense pressure on the Australian government to implement recommendations handed down by a parliamentary committee last week, including a cap on donations at just $2000 per political party, group or independent candidate each financial year.
It's no secret that Labor received $115,000 from Star City Casino in the second half of last year, around the same times as the laws regulating the casino were being loosened and its exclusive licence was extended in Parliament. In 2008 Star donated $110,000 just two months before it was granted approval for a $575 million redevelopment, and readers will recall that their budget has just been increased by $100 million or so, which helps build more entertainment rooms, and may even go towards learjets for high rolling VIP's, as they go to "war" with Packer's Crown.
A spokeswoman for Ms Keneally said any suggestion that political donations had influenced concessions that allowed gambling controls and surveillance to be watered down was not correct. "Donations have no impact on the timing of bills going through Parliament.".
Political donations are keenly watched as an indication of which companies and wealthy individuals may be lobbying government. The Australian and international gaming community is watching closely to see what moves PartyGaming and Betfair may make in this space.
PartyGaming famously came to financial terms with the United States Department Of Justice last year to the tune of $100 million or thereabouts. It wasn't a pure donation, however the U.S knew Party had the money, and it was an opportunity for PartyGaming to move forward. PartyGaming and its brands such as PartyCasino and PartyPoker are making strategic moves to return to the U.S market and regulation changes are afoot, just its World Poker Tour is making pro active steps to boost things along with a pending play in the North American - Canadian region, which may see much of the U.S change its stance on igaming, poker tournaments and the like. Last fortnight PartyGaming inked an impressive business deal with France horse racing operator PMU (Pari Mutuel Urbain). PartyGaming also enjoys b2b dealings with such mainstream brands as Marvel Entertainment, Paramount Pictures, Frank Sinatra Enterprises, StudioCanal, Blizard Entertainment, Infinity Ward, Edgar Rice Burroughs, Hasbro, MGM and FremantleMedia. PartyGaming are understood to be in the "good books" of internet giants Google, Yahoo! and Bing!... something that has also served Gambling911 and Media Man International well over the years. Google is currently developing its own advanced web hosting and ISP services in a move that has has generated massive interest from mainstream media, new media and gaming operators.
Back to the pure political news...Figures Gambling911 and Media Man sourced via Fairfax Media and News Limited state the following...
In the second half of last year the biggest donors included: Clubs NSW, which gave $59,000 to Labor and $101,555 to the Coalition; Manildra Group, $40,850 (Labor) and $19,050 (Coalition); property developer Memo Corporation, $36,850 (Labor) and $22,200 (Liberal); and the Independent Retailers Association, $77,820 (Labor) and $9000 (Liberal). The Liberals accepted $57,926 from the Australian Hotels Association and $49,750 from British American Tobacco.
The Opposition Leader, Barry O'Farrell, personally raised $174,650 at 10 fund-raisers held in his name and in his electorate, including raising some $108,100 at the Ku-ring-gai Business Breakfast last September.
Not to be outdone Labor collected in excess of $1 million in "affiliation fees" paid by unions between July and December.
In the coming weeks and months we will continue our probe into the relationships between Australian political parties and casinos, igaming operator, SP bookmakers and the like. Firms on our radar include but are not limited to Betfair, Centrebet, Full Tilt Poker (Easts Roosters NRL team connection), 888 (Warnie's the face of them for Australia), and a few others that will remain nameless for the moment.
Aussie's, anyone taking bets on what Australian land based casino operators are interested to enjoy a spot of golf with Senator Stephen Conroy (Minster of Communications, Censorship and "Silly Lists") Last time a casino exec played golf with our friend cash registers hit the jackpot. Ah, life is full of coincidences, just ask 'Casino Jack', coming soon to a movie theater near you if your an Aussie, Yankee or Kanok, but if your behind "The Great Internet Firewall" Of China, good luck, you will need it.
Tony "The Bruiser" Abbott, stay on Kevin "Bloody" Rudd, we sense Rudd's corner man Conroy is going down for the count as we approach the 12th round of action, broadcast from Sydney to Las Vegas, Macau, Florida and beyond via the internet channel (that no one owns, Australian government included). Special referee Jesse "The Body" Ventura and his 'Conspiracy Theory' actuality TV show remain pro actively interested in the connection between Australian casinos, political parties and proposed internet filter and blacklist initiatives.
Media Man and Gambling911 offer this public service announcement: Bet with your head, not over it, and keep it fun (and that messages is also applicable to Australian political parties).
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. The network attracts approximately 6 million hits per month and has portals in Australia, Canada, Europe, Asia and the United States
*The writer owns shares in Crown Casino
Website Network
Media Man International
Media Man
Media Man Australia
Media Man Canada
Media Man Asia
Media Man Casino
Media Manager International
Casino News Media
Casino News Media.net
Australian Casino News
Poker News Media
Global Gaming Directory
Global Gaming Directory.net
Australian Sports Entertainment
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