The casino company\u2019s former non-executive directors may have scored a legal victory, but it will be tempered by judge Michael Lee\u2019s brutal judgment. The Federal Court says the casino\u2019s chief executive failed to manage the risk that junket operators were laundering money, but threw out ASIC\u2019s other claims. The long-running vehicle invests much of the billionaire businessman\u2019s fortune, and is run by a family lieutenant Lawrence Myers, who is also being sued. The casino giant had been working on overhauling its borrowing facilities, and will replace a syndicate of lenders that includes Soul Patts and Macquarie. The embattled gaming group has finalised a deal to sell its stake in Queen\u2019s Wharf to Chow Tai Fook and Far East Consortium and manage it for a small fee. Sportsbet, the country\u2019s largest online bookmaker, appears to be shrugging off new regulations, making a ChatGPT for gambling recommendations.<\/p>\n
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In his eyes, the company was meant to focus on everyday lottery customers, not \u201crich jackasses trying to game the system, doing Hail Mary events once in a blue moon\u201d. And he said, \u2018Oh, we sent over QR codes, and we hooked them up to the machines, and we printed all the tickets\u2019.\u201d Repcenko lived in Malta, a hub for online gambling businesses. On top of the $US26 million spent in the final draw, \u201csubstantial money was wagered and lost on previous draws\u201d in the weeks before. He declines to comment on other syndicate members or the amount of money he personally collected in winnings. \u201cHis mates filled out tickets all week, and he organised a newsagent to stay open 24 hours a day so he could get the tickets on.\u201d In the end, they held the only winning ticket.<\/p>\n