New Zealand pokie trusts face scrutiny over NZ$28m in misspent funds
Regulators are now seeking to recover millions that should have been available for community grants, following One Foundation's licence suspension last week.
Regulators are now seeking to recover millions that should have been available for community grants, following One Foundation's licence suspension last week.
One Foundation has received a six-day licence suspension as the Department of Internal Affairs tightens oversight of how Class 4 gambling proceeds are accounted for and distributed.
Inflation-adjusted profit remained the third-lowest June-quarter level since comparable reporting began in 2015, despite the nominal record.
Disposal forms part of the operator's ongoing asset monetisation programme.
Oaktree already has interests across the gaming sector, including Interblock and J&J Ventures Gaming and previously owned live slot streaming supplier Awager.
The implementation body will assess governance and industry structures after an advisory report warned that New Zealand racing faces a combined structural deficit of more than NZ$50m.
The operator has opened a strategic review of SkyCity Adelaide after recording an AU$43m reduction in the casino’s carrying value.
The country is now shifting focus to rehoming former racing dogs, as the practice has now become officially outlawed.
The group has consolidated two bank facility tranches as it continues efforts to strengthen its financial position.
SkyCity has entered into a preliminary agreement to sell The Grand Hotel as it continues to raise capital and reduce debt.