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PTT plots bid for Carrefour assets

first_imgFriday 20 August 2010 2:49 am PTT plots bid for Carrefour assets PTT, Thailand’s biggest energy company, said it plans to bid for French retailer Carrefour’s Thai assets, worth an estimated $600M (£386m), under a plan to diversify its businesses.Carrefour, Europe’s top retailer, wants to sell its Malaysia, Singapore and Thailand units at a potential price of $1BN to focus on core markets where it holds leading positions.In recent years, Carrefour has withdrawn from other Asian markets, including Japan and South Korea, to focus on growing markets such as China and India.“We are actually interested to see whether there’s an opportunity to link to our businesses,” Chief Financial Officer Tevin Vongvanich told Reuters.“We are studying the plan, but there are no further details or information on the timing at this point,” Tevin said.PTT joins an increasingly crowded field expected to bid for the assets in September.France’s Casino has hired Deutsche Bank and Royal Bank of Scotland Group to advise it on a potential bid for Carrefour’s Malaysia, Singapore and Thailand assets, two sources told Reuters in July.Leading Thai conglomerate Berli Jucker, owned by liquor tycoon Charoen Sirivadhanabhadi, expressed interest last month in bidding for Carrefour’s Southeast Asian operations.Singapore-listed Dairy Farm International, which owns Cold Storage and Giant superstores in Singapore and Malaysia, and Britain’s Tesco are also seen as potential bidders, sources said. Tesco and Dairy Farm have declined to comment.Casino owns 36 per cent of the Big C Supercentre chain, Thailand’s second-largest hypermarket operator by number of stores after British-owned Tesco Lotus. Share John Dunne Show Comments ▼ whatsappcenter_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndo whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com Tags: NULLlast_img read more

Kabul Bank clients fear collapse

first_img Share Customers of Kabul Bank spent hours queueing to withdraw their saving yesterday amid talk that the Afghan bank was close to collapse. Armed police and barbed wire were brought in to hold back the crowds. The US Treasury denied yesterday it is preparing to bail out the bank, and Afghan officials insisted the bank will not fail. whatsapp whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Kabul Bank clients fear collapse center_img Sunday 5 September 2010 9:43 pm KCS-content Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndo Show Comments ▼ Tags: NULLlast_img read more

Westfield hosts a car boot sale

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoinvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndo More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comPuffer fish snaps a selfie with lucky divernypost.com whatsapp Westfield hosts a car boot sale Monday 6 September 2010 8:16 pm Show Comments ▼ KCS-content center_img SHOPPING centre Westfield London will host a designer car boot sale this month, with designs and exclusive pieces from retailers Whistles and House of Fraser.The mall, in Shepherd’s Bush, will see the goods sold from 20 Hyundai cars in the centre’s car park. The event is to celebrate London Fashion Week, and will run from 21 to 26 September.Westfield will also host two fashion shows during the week. TopShop will also be taking part in the event along with denim specialist Dona Ida. whatsapp Share Tags: NULLlast_img read more

BHP pulls out of Falklands JV

first_img whatsapp BHP pulls out of Falklands JV Tags: NULL Share whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proofcenter_img Tuesday 28 September 2010 10:33 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndo KCS-content SHARES in Falkland Oil and Gas lost over a fifth of their value in a single day yesterday after the oil and gas explorer said BHP Billiton had pulled out of a joint venture drilling project in the Falkland Islands.Falkland Oil and Gas said BHP had elected not to enter the second phase of drilling on its southern licence area, adding that the company will take back the oil giant’s current 51 per cent interest in the project.It will now continue work on the second phase of the project alone, aiming to drill a single exploration well by 2015.“Falkland Oil and Gas believes, based on the drilling results from the Toroa well analysed to date, that these licences are still prospective,” the company said in a statement.In a further blow to the Aim-listed firm, it admitted that the next phase of drilling at its northern licence area is increasingly unlikely to commence before the end of the year, though the Falkland Islands government has agreed to extend the first phase of the licences by a year.“We welcome the Falkland Islands government’s understanding in agreeing to extend the licence terms. We intend to continue actively exploring the southern licences and with our joint venture partner, to secure a deepwater rig to resume drilling in the northern licences as soon as possible,” Falkland Oil and Gas chief executive Tim Bushell said. The setback for the company came after rival Rockhopper Exploration discovered substantial reserves of oil at its own North Falklands basin project, sending the shares leaping to an all-time high.However, the extent of available resources in the region is still far from clear and drilling has led to protests in Argentina, which claims sovereignty over the islands it calls the Malvinas.Argentina fought a war with Britain after briefly taking possession of the islands in 1982. Show Comments ▼last_img read more

Qantas to claim cash from Rolls-Royce for jet blow-out

first_imgTuesday 23 November 2010 9:03 pm Qantas to claim cash from Rolls-Royce for jet blow-out More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoFilm OracleAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongFilm OracleUndogo.dailystocktraders.comThis Secret IRS Loophole May Change Your Lifego.dailystocktraders.comUndoDefinitionThe Most Famous Movie Filmed In Every U.S. StateDefinitionUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoAffluent TimesA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserAffluent TimesUndoWorldLifeStyleMom Sells Baby’s Crib, But Buyer Returns And Tells Her To Look In The TrunkWorldLifeStyleUndoAmoMediaRich Guy Mocks Disabled Waiter, Regrets It ImmediatelyAmoMediaUndo KCS-content center_img whatsapp whatsapp ROLLS-ROYCE is facing another claim for compensation over the blow-out of an engine on an A380 super-jumbo, it emerged yesterday.Australian flag carrier Qantas said it would join Airbus in claiming compensation from Rolls for the disruption caused by the accident on 4 November, which forced the Qantas jet flying to Sydney from Singapore to make an emergency landing.Qantas chief executive Alan Joyce said it would discuss compensation with Rolls “when the time is appropriate”, although he declined to give details.Rolls has said its annual profits would be slightly lower due to the cost of replacing the part in the Trent 900 engines suspected of causing the accident, which prompted regulators to order checks on all A380s.The jet engine maker got a boost yesterday, however, from news that Qantas plans to start flying its Airbus A380 super-jumbos again this week.Qantas, which grounded its A380s following the incident, said it plans to resume flying two of the jets between Sydney and London on Saturday, although it said its other four A380s would take some time to return.Qantas plans to keep the A380 off high-margin Sydney-Los Angeles routes, which needs maximum certified engine thrust, as a precaution. Show Comments ▼ Tags: NULLlast_img read more

CITY MOVES | WHO’S SWITCHING JOBS

first_img KCS-content whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamUndoBetterBe20 Stunning Female AthletesBetterBeUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndo Tags: NULL whatsapp Monday 7 February 2011 7:45 pm Show Comments ▼ JP Morgan Private BankAastha Gurbax (pictured) has joined the private banking arm of JP Morgan, based in London. She will be a vice president on the private banking team, reporting to Olivier de Givenchy. Gurbax has previously worked at Morgan Stanley as an adviser for high net worth families and charities. Formerly, she was a tax consultant at PricewaterhouseCoopers and Deloitte and Touche, before which she worked in forex and specialised derivatives.PricewaterhouseCoopersMark Stephen has been promoted to head of the firm’s UK insurance business, succeeding Andrew Kail. He will now lead PwC’s insurance work, helping businesses adapt to changing regulations. Stephen has been with the firm for 20 years and has specialised in the insurance industry.RBC Capital Markets The corporate banking arm of Royal Bank of Canada has added three directors to its global equities platform in Europe.Matthew Penton has joined as a director covering the industrial sector. He was previously at Nomura. Daniele Calabrese has also joined as a director and sales trader covering Italian accounts, having worked in the past at RBS/ABN Amro and Bear Stearns.And Hugh Kingsmill Moore has joined the firm as a director covering renewables and utilities. He was most recently at Nomura Code and has worked at ING Barings, Greig Middleton and Nomura International.Merrill Lynch Bank of America/Merrill Lynch Wealth Management has appointed Milan Duschka as a financial adviser.He joins the firm from ABN AMRO’s private bank Mees Pierson and will be reporting to Geoffrey Bruyn in his new role, based in Amsterdam.LaSalleLaSalle Investment Management has opened a new Dubai office to be led by Nick Brook, who has been based in LaSalle’s London office and focused on the Middle East since 2002. Reed SmithThe law firm has appointed a new senior partner: Scott Cameron, to the Europe and Middle East corporate group in its London office. He is US-qualified and specialises in capital markets, acting for firms on all aspects of SEC regulation and on many cross-border transactions. Share CITY MOVES | WHO’S SWITCHING JOBS last_img read more

Mondi expects earnings to rise

first_imgThursday 10 February 2011 7:58 pm Mondi expects earnings to rise KCS-content Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBetterBe20 Stunning Female AthletesBetterBeWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoam Share Show Comments ▼center_img Paper and packaging firm Mondi said underlying operating profit for the year ended 31 December 2010 is expected to be considerably higher than the same time a year earlier. The group, listed in London and Johannesburg, said it expects basic underlying earnings per share for the year to be in the range of 44-49 cents compared to 18.7 cents a year before. Mondi also said restructuring costs will be greatly reduced. Special item charges before tax and non-controlling interests in aggregate of €133m (£112m), mainly relating to impairments of assets and restructuring and closure costs in 2009 will mean the equivalent special item charge of €22m this year. whatsapp More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comConnecticut man dies after crashing Harley into live bearnypost.com whatsapplast_img read more

ANALYST VIEWS: IS PHILIPS ON THE RIGHT TRACK WITH ITS SHAKE UP?

first_img More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org ANALYST VIEWS: IS PHILIPS ON THE RIGHT TRACK WITH ITS SHAKE UP? Share whatsapp Tags: NULL JONATHAN JACKSON | KILLIK & COPhilips is well positioned to take advantage of increasing income levels and the expansion of the middle class. In addition, its healthcare and lifestyle products play to the trend of an ageing population driving increased spending on health and well-being. ‘Buy’.VICTOR BARENO | SNS SECURITIES TPV Technology was a logical partner, as it was one of Philips’ most important outsourcing partners. The key was to get the TV business off the company’s profit and loss sheet. In Europe, austerity measures have some impact in Southern Europe and the UK but Northern Europe is on track.MARTIN PROZESKY | SANFORD BERNSTEINMy expectation is that it is not likely to get a lot of value out of the joint venture. The TV business would probably continue to lose market share, but the deal is positive on the whole. whatsapp KCS-content Monday 18 April 2011 7:45 pm Show Comments ▼last_img read more

iGB Diary: fines, MPs and lies

first_img Subscribe to the iGaming newsletter In this week’s diary we ponder who will be the target of the Gambling Commission’s next major fine and query the legitimacy of the moral high ground taken by Tracey Crouch yesterday. Was it a well reasoned stand against the government’s disregard for the vulnerable? Or was yesterday’s letter to the PM more rhetoric than reality?Everything’s fine If you think the GC’s gone a little quiet lately, it may be because it’s busy calculating its next raft of gargantuan fines. The rumour mill has been churning out speculation over a big fine for a sizeable north of England-headquartered operator for nearly six months now but iGB hears a smaller household name is also staring down the barrel of a £22m rap on the knuckles. Those in the know say the plucky online casino has enlisted the services of a seriously heavyweight lawyer to barter down the headline figure significantly before it’s made public. Whether the casino in question breaks even after the legal fees is anyone’s guess! In fairness to said casino, iGB understands that it is not uncommon for the GC’s fines to start sky high and be whittled down by lawyers before they find their way to the press. Fines dished out to 888, William Hill and Paddy Power Betfair, for example, are thought to have started considerably north of the figures published after all the possible mitigations were wrung out by their legal teams.Resigned Tracey Crouch’s resignation yesterday has attracted the usual scrutiny from Twitter. The notoriously left-leaning social media platform was, somewhat unsurprisingly, broadly supportive of the sports minister’s principled stance. Offering his applause across party lines Labour MP David Lammy said she could hold her head high after fighting the good fight against FOBTs and ‘putting principle ahead of ambition’ after the chancellor announced during the budget that the minimum stake would not be reduced to £2 until 2019.The campaign to reduce the stake on Fobts has taken many years to realise. I know because I was there from the very beginning how much you have pushed for this from behind the scenes. You can hold your head high. Well done for putting principle ahead of ambition. — David Lammy (@DavidLammy) November 1, 2018 Former pro-poker player and broadcaster Victorian Coren Mitchell was similarly supportive… — Victoria Coren M. (@VictoriaCoren) November 2, 2018 While, controversially, CEO of Glück Group (the recently merged combination of Gamevy and Glück) flagged the gaming industry’s reservations about the basis on which the decision was made. — Paul Dolman-Darrall (@MrPaulDD) November 1, 2018 Others headed straight online to check Crouch’s voting history and were quick to point out that the minister’s concern for the poor and vulnerable is less evident from her voting record on benefits, housing or legal aid. FIBTs According to Tracey Crouch’s resignation letter, the industry has, to coin the Daily Mail’s hysterical headline, “blood on its hands” because two people commit suicide every day as a result of problem gambling. This stat, casually tossed in there like a hand grenade and totally unsourced, deliberately weaponises suicide on behalf of the Campaign for Fairer Gambling and its supporters inside Parliament. Because the fact that more than 700 people in the UK die at the hands of the industry every year, as Crouch and the Mail would have us believe, is pretty shocking right? Too right. Except it’s a massive lie as far as the UK is concerned. It’s taken from a 2010 study of suicide victims in Hong Kong which found that of the 19% who displayed evidence of gambling behaviour prior to death, some 47% involved individuals who were indebted due to gambling. Note the addition of the description “indebted” – this in Hong Kong where there are zero responsible gambling policies in place and debts are collected via the use of largely unregulated means, including violence. So how does the UK bookmaking industry respond? That’s hard to say. They could state that the factors underlying suicide are myriad and complex, and the number of annual cases in the UK which gambling behaviour actually figured to any degree at all are miniscule and could probably be counted on two hands. They would be slammed for being insensitive and told that “X number is too many anyway”. With Zarb-Cousin and Derek Webb switching their attention to an online sector subject to around 90 regulatory investigations into alleged responsibility and money laundering failings, their end game of total prohibition no longer appears fantastical. Or are we now the ones being hysterical? Possibly but these are dark days indeed and the industry needs to find ways of fighting back against this underhand and nasty politics and quickly. Email Address 2nd November 2018 | By Hannah Gannage-Stewart Casino & games Topics: Casino & games iGB Diarycenter_img iGB Diary: fines, MPs and lies Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter This week we ponder who will be the target of the GC’s next major fine and query the legitimacy of Tracey Crouch’s moral high groundlast_img read more

Less talk, more action

first_img Tags: Online Gambling Email Address Casino & games Topics: Casino & games Sports betting Strategy The industry’s reputation is in the doldrums and while stakeholders recognise the need to act decisively to reverse this trend, industry infighting and prevarication is not helping. By Jake Pollard Subscribe to the iGaming newslettercenter_img 13th February 2020 | By Daniel O’Boyle The industry’s reputation is in the doldrums and while stakeholders recognise the need to act decisively to reverse this trend, industry infighting and prevarication is not helping. By Jake PollardDiscussing the problems the industry faced when it tried to convey a positive message about its responsible gambling and social responsibility efforts, one panellist at a conference late last year said: “Too often it seems like the industry is speaking to itself.”While not meant to be a defining description of how the industry addresses responsible gambling (RG), the comment seemed apt. The venue was full of industry executives discussing how the gambling sector could improve its reputation by publicising its many positive RG initiatives or lobbying for better regulations.Trade journalists were also asking searching questions of the panellists and speakers. But for all the talk and coverage the topic received in the trade press throughout November 2019’s RG Week, not a single article in the mainstream media mentioned the industry’s RG efforts or events and briefings it had held.No mainstream media was present at that particular RG conference either and even if it had been, it is doubtful the coverage would have been positive.The reasons for this state of affairs are hard to determine. After all, it is a longstanding issue and the industry has often debated how it can change the narrative around RG and show that it is doing all it can to promote it.There are many possible answers, but  the more blunt among us would simply say that the gambling sector has only ever paid lip service to RG. That it has never put in place actionable policies or an industry-wide strategy to truly benefit consumers. Instead of saying how much it cares about player safety and wants to reduce levels of problem gambling, it should put into action the policies that will deliver those results.Addressing the problem, not how it is perceived This, of course, is easier said than done. Even if it did put such policies in place and they produced positive results, how would it persuade the government, media and competing trade groups such as BACTA of its case?In addition, unlike alcohol and tobacco, those affected by problem gambling do not often show physical signs of being affected and gambling, especially in that context, is most often a solitary pastime. Industry measures around RG, even when they have successful outcomes, also tend to be much less visible than those undertaken by the other two ‘vice’ industries that are alcohol and tobacco.For Dan Waugh, partner at the gambling consultancy Regulus Partners, there is some truth to the theory that the industry has spent too long talking to itself, but first “it must determine the problem it is trying to solve”.“For a long time the industry has focused on how problem and responsible gaming is perceived, rather than on addressing it”, he says.“There have been so many announcements over the last few years, accompanied by numerous bold claims, that the industry has wanted credit for” – despite there not being tangible results to show.Waugh concurs that the RG policies promoted by the various trade groups, whether the Senet Group or the Betting and Gaming Council (BGC), have difficulty addressing the issues effectively. The result is their initiatives can look random and suffer from a double affliction. They can be seen as too general and ineffective, while simultaneously not pointing out the real underlying problems that need to be addressed for fear of being too long-winded or boring.“The industry needs to find the problem it wants to address and join the dots in coordinating action efficiently,” he says. “Clearly it shouldn’t have allowed things to reach the stage they have, the sector must find the time and space to reach a solution that provides the balance and calm to address issues that require deep and thoughtful analysis.“It then has to act and the measures must deliver results that the industry can publish. That is the only way government and regulators will come round.”Industry infighting The other key issue the sector must address is the infighting that has gone on for many years and characterised so much of the debate around FOBTs in the last few years. That the UK government reduced the maximum stake to £2 might have been celebrated in certain parts of the industry. That doesn’t mean problem gambling has been meaningfully addressed or the public’s perception of the industry has improved.From off the record briefings to parliamentary reports funded by those opposed to FOBTs and now setting their sights on the online sector, the continuous drip of negative headlines has produced a toxic atmosphere.BACTA, the trade body representing UK amusement arcades, has long been an opponent of FOBTs and operators like Hippodrome Casino played an integral role in supporting the All-Party Parliamentary Group’s (APPG) lobbying against the machines.It was also one of the groups that funded the Gambling Related Harm APPG’s interim report published late last year that recommended reducing the maximum stakes for online slots to £2.BACTA CEO John White told iGaming Business that it was wrong to assume his organisation was opposed to online operators, or that the report was the latest instalment in an ongoing propaganda battle against them.“There will be topics on which we disagree and others on which we agree,” White said. “On FOBTs, we thought [the bookmakers] were wrong, but we’re not out there campaigning against online.”But doesn’t BACTA support the GRH APPG’s conclusion on online stakes, which also criticises the Gambling Commission and calls for an “urgent root and branch review of the regulation of online gambling”?“It’s a blurred distinction – we don’t support [all of] the report, we support some of its recommendations,” says White. “People misconstrue criticism as opposition. If I was speaking to the Betting and Gaming Council (BGC), I would be saying some things as a critical observer. I would also support some of the other ideas in the report and push the envelope even further in some cases.”If White’s comments are surprising, there have been numerous tales of BACTA meetings where the talk was dominated by crowing over the FOBT stakes review and attacking the online sector. It is also contradicted by facts on the ground.BACTA and the BGC (or its previous incarnation as the Remote Gambling Association and Association of British Bookmakers) have never carried out any joint projects centred on advancing responsible gambling or best practice throughout the gambling industry.In response White says BACTA would be “willing to talk about anything to anyone” if the BGC approached his organisation about working in concert and presenting a united front. Up to now there has been little sign of it doing so.Politics dominates The BGC recently announced that Michael Dugher, the former Labour MP and Shadow Secretary of State for Culture, Media and Sport, would be its new chief executive, taking up his post in Spring 2020.It did not comment when iGaming Business asked if having Dugher as its new CEO was a ‘political’ appointment. Nonetheless it does suggest the BGC will approach its work with the objective of winning influence, or at least having a stronger impact, among politicians and lawmakers, potentially even developing some political support. It also feels like a tacit admission that the sector’s approach to lobbying and campaigning, FOBTs being the prime example, had failed.In terms of working with the likes of BACTA and whether it knows how to put an end to the shadow boxing that has been going on for many years, a spokesperson says: “The BGC will set the highest industry standards. It will raise standards and build public and institutional trust in the industry through its code of conduct and codes of practice designed to ensure enjoyable, fair and safe betting and gaming.“We hope other sectors in the industry will join with us to achieve that.”The intentions should of course be praised, but a stock response also suggests there is little communication between the trade groups; and even less likelihood of them working constructively in the future.When it comes to promoting responsible gambling and the problems the sector has had in communicating its RG work and convincing newspapers or politicians to change how they perceive the industry, the spokesperson says: “The BGC has been established to bring all sectors of the industry together, from online, retail and casinos, to speak as one, and work as one.“We want to ensure an enjoyable, fair and safe betting and gaming experience for all of our customers, and are working hard on engaging with all stakeholders, politicians, charities and customers to ensure that they are involved in what we are doing to raise standards.“The BGC believes that its main objective is to deliver the commitments it has made to stakeholders and customers and those positive developments will speak for themselves.”Beyond the corporate lingo, that final point must be the most important objective for the BGC. In practical terms its commitments (targets might be a more apt description) will be to influence politicians and legislators so that it can shape policy in a constructive way. It must somehow lessen the opposition and impact of the tactics from the likes of BACTA and even convince anti-gambling campaign groups that its policies benefit communities and keep any harm that might arise from problem gambling to a minimum.Less PR, more consistency Waugh says the gambling sector “should not have allowed things to reach this situation”. In his eyes, it’s time for deeds, not words.And when it comes to lobbying and media campaigns, the industry should avoid doing too much PR. Instead it “should define a problem, set up a clear process for how to solve it and show that what it is doing is having an impact and can be trusted”.Waugh adds that lobbying is a dangerous term: “[It] implies that you are trying to achieve something regardless of evidence. It sounds like trying to influence policymakers and carries the tone of undue influence,” he says.“It is clear the Gambling Commission or civil servants at DCMS are some of the stakeholders the industry must work with to ensure it is well regulated, but it should aim for honest, scientific assessments of the facts and if a change in regulations is likely, it must be based on honest exchanges between the sector and policy makers. Gambling is not widely understood and problem gambling is particularly difficult, which is why engagement is critical.”Operators will always have opponents and times when it is very difficult to ‘cut through’. Pledges, commitments or press conferences have minimal impact on opinion formers – the only way the sector will influence policymakers in a positive way is through engagement and consistent work that achieves demonstrable, evidence-based results. 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