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Aussie
Racing Club Buys Pokies Clubs, by Greg Tingle - 30th
May 2010
The
Australian gaming, igaming, racing and overall business
sector continues to evolve, as the old adage of only
the strong will survive continues to hold true. Media
Man and Gambling911 crack the whip at the Aussie racing
and pokies sector with this special report...
The
illustrious Melbourne Racing Club has further ramped
up its business interests , solidifying its future,
with a $50 million fab deal to buy what is understood
luck seven pubs. In the purchase the MRC will pocket
ownership of up to 380 pokies aka "one arm bandits".
Something tells us the 'Virtual Racing' and 'Gone
To The Races' slots are going to be the most popular,
but old favorites 'Cleopatra Queen Of The Nile', 'Penguin
Pays', and 'Black Rhino' are going to be hard to beat.
Aussie punter's are also calling for a 'Monopoly Slot'
upgrade.
Key
Players And Deal Makers Inc
Vendor
- was receiver and manager PPB on behalf of former
owner Rick Munday.
NAB
(National Australia Bank) is the primary lender (appointed
PPB after loans were not paid).
The
well known and cashed up racing finally bit the bullet
and got knee deep in the pokies sector. They will
own the leasehold on the popular hotels strategically
scattered around Melbourne.
The
Munday family had to sell up after what you could
call overcapitalising, a time when the world's financial
sector started bleeding.
The
PPB was appointed to sell the portfolio in April,
when it was discovered Mr Munday could not participate
in the Victorian government's well publicized auction
of 27,500 or so gaming licences...breaking up the
Tabcorp and the Tatts Group duopoly and virtual strangle
hold on the sector.
Upgrades
including to accommodate for smoking laws are partly
responsible for the blow out in financials.
The
agent, Mr Musca lists the following in the portfolio:
Golden Nugget Hotel in The Players, Court Jester,
Golden Fleece, The Sugar Gum, The Cove, and The Grand.
As
in a global financial crisis, there's big winners
and losers, and the Australian racing industry is
doing what it needs to do to shore up its future.
If it means them getting into bed with pokies and
the like, that's what they will do. Media and racing
identity Alan Jones has called for unity in the sector.
Meanwhile,
further aboard in France PartyGaming has shored up
its deal with PMU (Pari Mutuel Urbain). Party is incorporating
its online poker product - solution into the deal.
We
think the France - Party deal may have lit a fire
in the belly of Australian racing and tipped them
it was time for some off track action, if they are
to survive in the long haul. Credit where credit is
due.
Media
Man is preparing a proposal for "the powers that
be" in and around the current Asia Pacific racing
sector to further shore up their financial future.
Gambling911
and Media Man remind readers to bet with your head,
not over it, and 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 inc sports betting and
racing, is just one of a dozen business sectors covered.
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