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Endeavor president Mark Shapiro promises not to ‘over-commercialize’ WWE - May 2023

The president of Endeavor says they will look at ways to increase WWE's sponsorship revenue, but they are not going to "over-commercialize" the product.

Mark Shapiro appeared on the Sports Media Podcast on Wednesday and was asked about WWE sponsorship opportunities that could potentially involve putting brand logos on wrestlers' ring gear.

Shapiro responded:

"Look, you want to be authentic, you want to be seamless, you want to be organic, you want to be true to your audience. So, no, we're not going to put a brand on somebody's robe walking into the ring. Now, by the way, do UFC fighters wear Venom apparel and Project Rock shoes when they come into the octagon? Yes, they do. Could the WWE benefit from an apparel deal as such? A shoe deal as such? Absolutely but we're not going to over-commercialize it, we're not going to saturate it to the point that we cheap it out, we trick it out, and you turn off the fanbase.

You've gotta figure out what's right in the ring, in the octagon. You've gotta figure out what's right with the arena, indoor, outdoor. You've gotta figure out what's right with the fighters and the participants, and you gotta walk before you run."

However, Shapiro emphasized that the transaction has not been completed and they are not currently in a position to make decisions regarding WWE.

Shapiro's comments regarding WWE's sponsorship potential echoes what had prevaiously been expressed by Endeavor CEO, Ari Emanuel. During an appearance on CNBC's Squawk on the Street earlier this month, Emanuel noted that they will let WWE "do what they want to do" while his group works to drive revenue. He says it's the same playbook they used with UFC.

"Right now, we're focused on saving some cost, doing sponsorship, which they didn't have. It's the same formula we used at UFC," Emanuel said.

Shapiro also commented on the success of this strategy during an interview with Sports Business Journal's John Ourand last month.

Shapiro said:

"That's the strategy. That's how it has successfully played out for the UFC over the last six years. Remember when we bought it for $4.1 billion? People thought that price was crazy. Now, it is valued at $12.1 billion. I mean, what a story. We hope to do the same thing with the WWE."

WWE Creates Placeholder Company for Endeavor Acquisition, Nick Khan Issues Letter to WWE Shareholders, More - 12th May 2023

WWE has created a new LLC, titled NEW WHALE INC., as a placeholder company for the Endeavor acquisition. The filing reiterates what was said several weeks back, noting that when the merger is finalized later this year, a new name will be revealed for the new company that Endeavor will run to oversee WWE and UFC. The stock market initials, as announced before, will be TKO, and that could be a hint at the planned company name.

The SEC filings included a letter from WWE CEO Nick Khan to stockholders in regards to the Endeavor acquisition. The letter outlines potential risk factors, transactions/closing, and more. WWE also released a Q&A for stockholders, and both can be seen below.

The letter from Khan reads like this:

To Our Stockholders:

On behalf of the board of directors of World Wrestling Entertainment, Inc., a Delaware corporation, which we refer to as “WWE,” we are pleased to enclose the information statement/prospectus relating to the proposed transaction between WWE and Endeavor Group Holdings, Inc., which we refer to as “Endeavor,” pursuant to which WWE and Endeavor propose to combine the businesses of WWE and Zuffa Parent, LLC, a Delaware limited liability company and a subsidiary of Endeavor, which owns and operates the Ultimate Fighting Championship (“UFC”) and which we refer to as “HoldCo,” which combined business will be managed by a newly public listed company that is currently named New Whale Inc., a Delaware corporation and direct, wholly owned subsidiary of WWE, which we refer to as “New PubCo,” which will be implemented through a sequence of transactions (the “Transactions”).

On April 2, 2023, Endeavor, WWE, Endeavor Operating Company, LLC, a Delaware limited liability company and a wholly owned subsidiary of Endeavor, which we refer to as “EDR OpCo,” HoldCo, New PubCo, and Whale Merger Sub Inc., a Delaware corporation and a direct, wholly owned subsidiary of New PubCo, which we refer to as “Merger Sub,” entered into a transaction agreement, which, as the same may be amended from time to time, we refer to as the “transaction agreement.” In connection with the transaction agreement, WWE formed New PubCo and Merger Sub. The Transactions include (i) an internal reorganization of WWE (the “Pre-Closing Reorganization”), (ii) following the Pre-Closing Reorganization, the merger of Merger Sub with and into WWE, with WWE surviving the merger as a direct, wholly owned subsidiary of New PubCo (the “merger”)—as a result of the merger, (x) each outstanding share of WWE’s Class A common stock, par value $0.01 per share (the “WWE Class A common stock”) and (y) each outstanding share of WWE’s Class B common stock, par value $0.01 per share (the “WWE Class B common stock,” and together with the WWE Class A common stock, the “WWE common stock”) that is outstanding immediately prior to the effective time of the merger (the “effective time”), but excluding any cancelled WWE shares (as defined herein), will, in each case, be converted automatically into the right to receive one share of New PubCo Class A common stock, par value $0.00001 per share (the “New PubCo Class A common stock”), (iii) following the merger, the conversion of the surviving corporation in the merger to a Delaware limited liability company (“WWE LLC”) (the “conversion”), which will be wholly owned by New PubCo immediately prior to the WWE transfer, (iv) following the conversion, (x) the contribution by New PubCo of all of the equity interests in WWE LLC to HoldCo in exchange for 49% of the membership interests in HoldCo on a fully diluted basis after giving effect to any issuance of membership interests in HoldCo in connection with such exchange (such contribution, the “WWE transfer”, and such membership interests, the “WWE Transfer Consideration”) and (y) the issuance to EDR OpCo and certain of its subsidiaries of a number of shares of New PubCo Class B common stock, par value $0.00001 per share (the “New PubCo Class B common stock”), representing, in the aggregate, 51% of the voting power of New PubCo on a fully diluted basis and no economic rights in New PubCo, in exchange for a payment equal to the par value of such New PubCo Class B common stock.

Upon the effective time, each issued and outstanding share of WWE common stock (other than cancelled WWE shares) will be converted automatically into one validly issued, fully paid and non-assessable share of New PubCo Class A common stock, which we refer to as the “transaction consideration,” and all such converted shares will then cease to exist and will no longer be outstanding. WWE Class A common stock currently trades on the NYSE under the ticker symbol “WWE.” On March 31, 2023, the closing price of WWE Class A common stock was $91.26 per share.

Upon completion of the Transactions, including the merger, which we refer to as the “Closing,” subsidiaries of Endeavor are expected to collectively own 51% of the voting power of New PubCo and 51% of the economic interests in HoldCo, with former securityholders of WWE common stock indirectly owning 49% of the economic interests in HoldCo, 49% of the voting power of New PubCo and 100% of the economic ownership of New PubCo, in each case, on a fully diluted basis. Shares of New PubCo Class A common stock are expected to be listed for trading on the New York Stock Exchange, which we refer to as the “NYSE,” under the ticker symbol “TKO.”

At a meeting of the board of directors of WWE, which we refer to as the “WWE Board,” the WWE Board unanimously adopted resolutions (i) determining that it was advisable and in the best interests of WWE and the WWE stockholders to enter into the transaction agreement and to consummate the Transactions, (ii) approving the execution, delivery and performance of the transaction agreement and the consummation of the Transactions and (iii) resolving to recommend that WWE stockholders adopt the transaction agreement.

The adoption of the transaction agreement and, therefore, the approval of the Transactions, including the merger, required the affirmative vote of holders of at least a majority of the voting power of the shares of WWE common stock entitled to vote on such matters. On April 2, 2023, Vincent K. McMahon (“Mr. McMahon”), who, as of the date thereof, was the record holder of 69,157 shares of WWE Class A common stock and 28,682,948 shares of WWE Class B common stock, representing approximately 81.0% of the aggregate voting power of the issued and outstanding shares of WWE common stock on such date, delivered a written consent, which we refer to as the “Written Consent,” adopting and, therefore, approving the transaction agreement and the Transactions, including the merger. Accordingly, the delivery of the Written Consent was sufficient to adopt the transaction agreement and, therefore, approve the Transactions, on behalf of WWE stockholders. WWE has not solicited and is not soliciting your adoption of the transaction agreement or approval of the Transactions, including the merger.

No further action by any Endeavor stockholder or WWE stockholder is required under applicable law, and neither Endeavor nor WWE will solicit the votes of their respective stockholders for the adoption or approval of the transaction agreement or the Transactions, including the merger. Neither Endeavor nor WWE will call a special meeting of their respective stockholders for purposes of voting on adoption or approval of the transaction agreement or the Transactions, including the merger. This information statement/prospectus and notice of action by written consent is being provided to you for informational purposes only and shall be considered the notice required under Section 228(e) of the DGCL. You are not being asked for a proxy, and you are requested not to send a proxy.

Endeavor and WWE are not required to complete the Transactions, including the merger, unless a number of conditions are satisfied or waived, which we refer to as the “closing conditions,” including: (i) the expiration of the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, (ii) obtaining other applicable regulatory approvals, (iii) the absence of any order or legal requirement that enjoins, restrains or otherwise prevents the consummation of the Transactions, (iv) the effectiveness of New PubCo’s registration statement on Form S-4, of which the accompanying information statement/prospectus forms a part, and the absence of any stop order or other proceeding that suspends or otherwise threatens such effectiveness, (v) the registration, and the authorization of listing on the NYSE, of New PubCo Class A common stock, and (vi) the consummation of the Pre-Closing Reorganization. The closing date of the Transactions will be at least 20 business days after the mailing of the accompanying information statement/prospectus to WWE stockholders, in accordance with Rule 14c-2(b) promulgated under the Exchange Act.

We encourage you to read the entire accompanying information statement/prospectus carefully, in particular the risk factors set forth in the section entitled “Risk Factors” beginning on page 31 of the accompanying information statement/prospectus.

On behalf of WWE, thank you for your consideration and continued support.

Nick Khan

Chief Executive Officer

World Wrestling Entertainment, Inc.

The Q&A reads like this:

QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS

The following questions and answers are intended to briefly address some commonly asked questions regarding the transaction agreement and the Transactions, including the merger. You are encouraged to carefully read the remainder of this information statement/prospectus, its annexes and exhibits and the documents that are referred to in this information statement/prospectus and to pay special attention to the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” beginning on pages 31 and 29, respectively, of this information statement/prospectus, because the information contained in this section may not provide all the information that might be important to you with respect to the transaction agreement and the Transactions, including the merger. For further information, please read the section entitled “Where You Can Find More Information” beginning on page 288 of this information statement/prospectus.

Q: Why am I receiving this information statement/prospectus?

A: On April 2, 2023, Endeavor, EDR OpCo, HoldCo, WWE, New PubCo and Merger Sub entered into the transaction agreement, pursuant to which WWE and Endeavor propose to combine the businesses of WWE and HoldCo, which owns and operates UFC, which combined business will be managed by New PubCo, a new publicly listed company, once the Transactions, including the merger, are implemented.

In connection with the transaction agreement, WWE formed two wholly owned subsidiaries, New PubCo and Merger Sub. Subject to the terms and conditions of the transaction agreement, (i) WWE will undertake the Pre-Closing Reorganization, (ii) following the Pre-Closing Reorganization, Merger Sub will merge with and into WWE, with WWE surviving the merger as a direct, wholly owned subsidiary of New PubCo, (iii) following the merger, the surviving corporation will be converted to WWE LLC, a Delaware limited liability company, which will be wholly owned by New PubCo, immediately prior to the WWE transfer and (iv) following the conversion, New PubCo will (a) contribute all of the equity interests in WWE LLC to HoldCo in exchange for 49% of the membership interests in HoldCo on a fully diluted basis after giving effect to any issuance of membership interests in HoldCo in connection with such exchange and (b) issue to EDR OpCo and certain of its subsidiaries a number of shares of New PubCo Class B common stock, par value $0.00001 per share, representing, in the aggregate, 51% of the voting power of New PubCo on a fully diluted basis and no economic rights in New PubCo, in exchange for a payment equal to the par value of such New PubCo Class B common stock. As a result of the Transactions, including the merger, subsidiaries of Endeavor are expected to collectively own 51% of the voting power of New PubCo and 51% of the economic interests in HoldCo, with former securityholders of WWE common stock indirectly owning 49% of the economic interests in HoldCo, 49% of the voting power of New PubCo and 100% of the economic ownership of New PubCo, in each case, on a fully diluted basis. In addition, New PubCo will be renamed “[ ]” immediately following the completion of the Transactions, including the merger.

Upon completion of the Transactions, including the merger, former securityholders of WWE common stock will own shares of New PubCo Class A common stock, which is expected to be listed for trading on the NYSE under the ticker symbol “TKO.” For further information on the rights of such shares, please read the section entitled “Summary of the Transaction Agreement— Transaction Consideration; Conversion of Shares; Exchange of Certificates” beginning on page 144 of this information statement/prospectus.

We have included in this information statement/prospectus important information about the Transactions, including the merger, and the transaction agreement (a copy of which is attached as Annex A). You should carefully read this information and the documents referred to therein in their entirety.

Please note that the delivery of the Written Consent is sufficient to adopt and approve the transaction agreement and the Transactions (including the merger) on behalf of stockholders of WWE. You are not being asked for a proxy, and you are requested not to send a proxy.

Q: Why is WWE proposing the Transactions?

A: The WWE Board has unanimously approved the transaction agreement and the transactions contemplated thereby, and determined that the transaction agreement and the transactions contemplated by the transaction agreement, are in the best interest of WWE and its stockholders. WWE believes that the Transactions, including the merger, will benefit WWE stockholders. For further information, please read the sections entitled “The Transactions—WWE’s Reasons for the Transactions; Recommendation of the WWE Board of Directors” beginning on page 95 of this information statement/prospectus.

Q: What will WWE stockholders receive in the Transactions?

A: At the effective time, each issued and outstanding share of WWE Class A common stock and WWE Class B common stock (other than cancelled WWE shares) will be converted automatically into one validly issued, fully paid and non-assessable share of New PubCo Class A common stock, and all such converted shares will then cease to exist and will no longer be outstanding. For further information, please read the section entitled “Summary of the Transaction Agreement— Transaction Consideration; Conversion of Shares; Exchange of Certificates” beginning on page 144 of this information statement/prospectus.

Q: What will holders of WWE equity awards receive in the Transactions?

A: At the effective time, each award of WWE RSUs and WWE PSUs, including any dividend equivalent rights granted with respect thereof, that is outstanding immediately prior to the effective time will be converted into an equivalent award of restricted stock units or performance stock units of New PubCo, respectively, on the same terms and conditions as were applicable under the award of WWE RSUs or WWE PSUs immediately prior to the effective time (including any provisions for acceleration); provided, that, any applicable performance-vesting conditions will be equitably adjusted, as necessary, including by the WWE Compensation Committee in good faith, following consultation and reasonable consideration of comments from Endeavor and in a manner consistent with past practice, to take into account the effects, if any, of the Transactions, including the merger.

Prior to the effective time, the WWE Board (or an appropriate committee thereof) will take necessary actions such that any offering period under the WWE ESPP during which the effective time would otherwise have occurred will be deemed to have ended on the fifth business day prior to the closing date and each outstanding purchase right under the WWE ESPP will automatically be exercised on such date.

For further information, please read the section entitled “Summary of the Transaction Agreement— Transaction Consideration; Conversion of Shares; Exchange of Certificates” beginning on page 144 of this information statement/prospectus.

Q: Should I send in my share certificates now for exchange?

A: No, you should not send in your WWE share certificates now for exchange. At the effective time, each WWE share certificate will automatically be converted into an equivalent number of shares of New PubCo Class A common stock. Following the effective time, stockholders may request to exchange their WWE stock certificates for New PubCo stock certificates by contacting New PubCo’s transfer agent (as defined below). For further information, please read the section entitled “Summary of the Transaction Agreement— Transaction Consideration; Conversion of Shares; Exchange of Certificates” beginning on page 144 of this information statement/prospectus.

Q: Who will serve on New PubCo’s board of directors and as management?

A: The New PubCo Board will consist of 11 members who will be determined at a date prior to the closing of the Transactions, five of whom will be selected by WWE (the “WWE Designees”), of whom (x) two will be members of the WWE management team (one of whom will be Mr. McMahon) and (y) three will be independent, and six of whom will be selected by Endeavor (the “EDR Designees”), of whom (x) three will be members of the Endeavor management team or Endeavor directors (one of whom will be Ariel Emanuel (“Mr. Emanuel”)) and (y) three will be independent. As such, New PubCo will be a controlled company with a majority of New PubCo directors that will be independent.

Following the Closing, New PubCo is expected to be led by Mr. Emanuel as Chief Executive Officer (who is expected to also continue in his role as Chief Executive Officer of Endeavor); Mr. McMahon as Executive Chair of the New PubCo Board; Mark Shapiro (“Mr. Shapiro”) as President and Chief Operating Officer (who is expected to also continue in his role as President and as Chief Operating Officer of Endeavor); Andrew Schleimer (“Mr. Schleimer”) as Chief Financial Officer (who is expected to also continue in his role as Deputy Chief Financial Officer of Endeavor); and Seth Krauss (“Mr. Krauss”) as Chief Legal Officer (who is expected to also continue in his role as Chief Legal Officer of Endeavor). For further information, please read the section entitled “Management and Directors of New PubCo After the Transactions” beginning on page 221 of this information statement/prospectus.

Q: What equity stake will WWE stockholders hold in New PubCo and HoldCo?

A: WWE stockholders will receive one share of New PubCo Class A common stock for each share of WWE common stock that they hold. As of the Closing, subsidiaries of Endeavor are expected to collectively own 51% of the voting power of New PubCo and 51% of the economic interests in HoldCo, with former securityholders of WWE common stock indirectly owning 49% of the economic interests in HoldCo, 49% of the voting power of New PubCo and 100% of the economic ownership of New PubCo, in each case, on a fully diluted basis.

For further information, please read the section entitled “The Transactions—Ownership of New PubCo after the Transactions” beginning on page 84 of this information statement/prospectus.

Q: How do I calculate the value of the transaction consideration?

The values of WWE common stock and of HoldCo have fluctuated since the date of the announcement of the transaction agreement and will continue to fluctuate from the date of this information statement/prospectus until the date the Transactions, including the merger, are completed. Because the ownership percentages described above will not be adjusted to reflect any changes in the values of WWE common stock or HoldCo, the value of the transaction consideration may be higher or lower than the value of the WWE common stock on earlier dates. Therefore, until the completion of the Transactions, including the merger, the WWE stockholders will not know or be able to determine the value, on a fully diluted basis, of the New PubCo Class A common stock that they will receive pursuant to the transaction agreement.

On March 31, 2023, which was the last trading day before the public announcement of the Transactions, the closing price on the NYSE was $91.26 per share of WWE Class A common stock. On [ ], 2023, which was the latest practicable date before the printing of this information statement/prospectus, the closing price on the NYSE was $ [ ] per share of WWE Class A common stock.

Changes in the market price of WWE common stock may result from a variety of factors that are beyond the control of WWE, including, but not limited to, changes in their businesses, operations and prospects, regulatory considerations, governmental actions, and legal proceedings and developments. You are encouraged to obtain up-to-date market prices for shares of WWE common stock.

Q: What conditions must be satisfied to complete the Transactions, including the merger?

A: Endeavor and WWE are not required to complete the Transactions, including the merger, unless a number of conditions are satisfied or waived, which we refer to as the “closing conditions.” These closing conditions include, among others:

• the adoption of the transaction agreement by WWE stockholders (which was satisfied by the delivery of the Written Consent);

• the completion of the Pre-Closing Reorganization;

• the absence of certain legal restraints that would prohibit or seek to prohibit the Transactions;

• the receipt of certain regulatory approvals;

• the approval for listing on the NYSE of the shares of New PubCo Class A common stock to be issued to WWE stockholders;

• the ancillary agreements being in full force and effect;

• the absence, since the date of the transaction agreement, of any event, change, occurrence or development that has had a material adverse effect on the business, financial condition or results of operations of WWE or HoldCo;

• delivery by Endeavor to WWE of certain required audited financial statements of HoldCo, and the operating income reflected in such financial statements not being less than a defined threshold (which was satisfied on April 23, 2023 by the delivery of such audited financial statements reflecting such level of operating income for the fiscal year ended December 31, 2022); and

• the prior mailing and effectiveness of the registration statement on Form S-4, of which this information statement/prospectus forms a part.

In addition, each of Endeavor’s and WWE’s respective obligations to complete the Transactions, including the merger, is subject to, among other conditions, the accuracy of the other party’s representations and warranties described in the transaction agreement (subject in most cases to “materiality” and “material adverse effect” qualifications) and the other party’s compliance with its covenants and agreements in the transaction agreement in all material respects.

For a more complete summary of the closing conditions that must be satisfied or waived prior to the completion of the Transactions, including the merger, please read the section entitled “Summary of the Transaction Agreement—Conditions to the Closing” beginning on page 170 of this information statement/prospectus.

Q: When do you expect the Transactions, including the merger, to be completed?

A: Endeavor and WWE are working to complete the Transactions, including the merger, as soon as possible. As described above, certain closing conditions must be satisfied or waived before Endeavor and WWE can complete the Transactions, including the merger. For further information, please read the section entitled “Summary of the Transaction Agreement—Conditions to the Closing” beginning on page 170 of this information statement/prospectus.

Assuming timely satisfaction or waiver of the closing conditions, the Transactions, including the merger, are expected to close in the second half of 2023. The closing date of the Transactions, including the merger, will be at least 20 business days after the mailing of this information statement/prospectus to WWE stockholders, in accordance with Rule 14c-2(b) promulgated under the Exchange Act.

Q: Is New PubCo expected to hold any assets other than the common units?

A: In addition to the common units, New PubCo is expected to hold an amount of cash that will be distributed by WWE LLC to New PubCo in connection with the closing of the Transactions, as further described immediately below.

Q: Does WWE expect to distribute cash to New PubCo?

A: Yes, WWE is permitted to distribute cash to New PubCo prior to the closing of the Transactions. It is expected that an amount of cash, if any, in excess of the WWE Minimum Cash Requirement (as defined in the transaction agreement) will be distributed by WWE LLC to New PubCo. For further information, please read the section entitled “Summary of the Transaction Agreement—Cash Distributions” beginning on page 143 of this information statement/prospectus.

Q: What happens if the Transactions, including the merger, are not completed?

A: If the Transactions, including the merger, are not completed for any reason, (1) WWE stockholders will not receive the transaction consideration, (2) WWE will remain an independent public company, (3) WWE Class A common stock will continue to be traded on the NYSE, (4) New PubCo, which is currently a direct, wholly owned subsidiary of WWE, will not become a publicly traded corporation, (5) the WWE RSUs and the WWE PSUs will not be converted into equivalent restricted stock units and performance stock units, respectively, of New PubCo, and (6) to the extent applicable, any then-current offering period under the WWE ESPP will remain outstanding through its original end date and will not be truncated.

As a result of the delivery of the Written Consent, no termination fees are payable in respect of the termination of the transaction agreement. For further information, please read the section entitled “Summary of the Transaction Agreement—Effect of Termination; Termination Fees; Expenses” beginning on page 174 of this information statement/prospectus.

Q: What approval by WWE stockholders is required to adopt the transaction agreement and, therefore, approve the Transactions, including the merger?

A: The adoption of the transaction agreement and, therefore, the approval of the Transactions, including the merger, required the affirmative vote of holders of a majority of the voting power of the shares of WWE common stock entitled to vote on such matters. On April 2, 2023, Mr. McMahon, who, as of the date thereof, was the record holder of 69,157 shares of WWE Class A common stock and 28,682,948 shares of WWE Class B common stock, representing approximately 81.0% of the aggregate voting power of the issued and outstanding shares of WWE common stock on such date, delivered a written consent adopting and, therefore, approving the transaction agreement and the Transactions, including the merger. Accordingly, the delivery of the Written Consent was sufficient to adopt the transaction agreement and, therefore, approve the Transactions, including the merger, on behalf of WWE stockholders. WWE has not solicited and is not soliciting your adoption of the transaction agreement or approval of the Transactions, including the merger. No further action by any other WWE stockholder is required under applicable law, and WWE will not solicit the vote of WWE stockholders for the adoption of the transaction agreement or approval of the Transactions, including the merger and will not call a special meeting of WWE stockholders for purposes of voting on the adoption of the transaction agreement or approval of the Transactions, including the merger. For this reason, the accompanying information statement/prospectus is being provided to you for informational purposes only. You are not being asked for a proxy, and you are requested not to send a proxy.

For further information, please read the section entitled “Further Stockholder Approval Not Required” beginning on page 138 of this information statement/prospectus

Q: What are the expected United States federal income tax consequences of the transactions for holders of WWE Class A common stock?

A: For United States federal income tax purposes, the merger and the conversion are, taken together, intended to qualify as a reorganization under the provisions of Section 368(a) of the Code. Assuming that the merger and the conversion will be treated for U.S. federal income tax purposes as a reorganization within the meaning of Section 368(a) of the Code, holders of WWE Class A common stock are not expected to recognize any gain or loss as a result of the merger and conversion.

For a more complete discussion of the United States federal income tax consequences of the Transactions, including the merger, please read the section entitled “Material United States Federal Income Tax Consequences” beginning on page 233 of this information statement/prospectus. Tax matters can be complicated, and the tax consequences of the Transactions, including the merger and the conversion, to a particular holder of WWE common stock will depend on such holder’s particular facts and circumstances. All securityholders of WWE should consult with their own tax advisors to determine the specific United States federal, state, or local or foreign income or other tax consequences of the Transactions, including the merger and the conversion, to them.

Q: Are stockholders of WWE entitled to dissenters’ or appraisal rights in connection with the Transactions?

A: No. Under Delaware law, holders of shares of WWE common stock will not have dissenters’ rights or appraisal rights in connection with the Transactions, including the merger. For more information, please read the section entitled “No Dissenters’ or Appraisal Rights” beginning on page 284 of this information statement/prospectus.

Q: Are there any important risks about the Transactions, including the merger, or WWE’s business of which I should be aware?

A: Yes, there are risks involved. WWE encourages you to carefully read in its entirety the section entitled “Risk Factors” beginning on page 31 of this information statement/prospectus.

Q: Who do I contact if I have further questions about the Transactions, including the merger, or the transaction agreement?

A: WWE stockholders who have questions about the Transactions, including the merger, or the transaction agreement or who desire additional copies of this information statement/prospectus or other additional materials should contact:

Attention: Investor Relations

World Wrestling Entertainment, Inc.

1241 East Main Street

Stamford, Connecticut 06902

Telephone: (203) 352-8600

UFC News

UFC Australia

"Chinese middle class is going to change the world"

James Packer says man-made attractions important

Mr Packer owns casinos in Melbourne, Perth and Macau

Sydney's The Star already attracting high roller VIP's

Non Packer casino and resorts also want in on the action

Casino News

Movie News

Box Office

Gaming and Tourism Biz Flashback

Australian tourism may be saved by Chinese middle class to large casinos

Gaming Biz Flashback

Sunday night's 60 Minutes report 'Packer's punt' got tongues wagging and telephones running hot across Australia - Melbourne and Perth (both home to existing Packer casinos) and 'Sin City' Sydney (site of the Barangaroo development).

Australia's flagging tourism industry can be saved by attracting the Chinese middle class to large casinos, Crown Limited chairman James Packer told the Nine network.

Mr Packer said recognising the Chinese middle class was as important as recognising the internet.

"It's like saying how big a deal is the internet," Mr Packer told his former business co-hearts Channel Nine.

"The Chinese middle class is going to change the world."

He advised Australia cannot rely on its natural beauty alone, because people are more drawn to man-made attractions.

"A lot of the Chinese tourists like man-made attractions as well as natural attractions," he said.

"We need to have better hotels, better restaurants, better shopping."

Mr Packer gave the United States as an example of how man-made attractions win over natural ones.

"Las Vegas gets 40 million people a year," he said.

"I think maybe the greatest natural attraction is the Grand Canyon. It's a half-hour drive from Las Vegas but gets about three million (visitors) a year."

Mr Packer owns casinos in Melbourne, Perth and Macau.

He also pointed out that casinos in The Philippines were doing well and contributed greatly to that country, and that he didn't currently have any casino interests there.

He said he was keen to secure a tables-only Sydney casino complex at Barangaroo to bring in more Chinese tourists.

Responsible Gambling Awareness Week started yesterday and the NSW Government is encouraging problem gamblers to seek help.

Casino King James Packer really aiming for Echo Entertainment...

Gaming analysts believe billionaire James Packer would consider offloading some of Queensland's casinos if he is successful in acquiring the Echo Entertainment Group.

Greg Fraser, a senior analyst at Fat Prophets, said that Mr Packer's real goal in his expected takeover tilt for Echo was to snatch the scandal-plagued Star Casino in Sydney and merge it into his Crown group.

Cairns casino targeting Chinese tourists: Packer's Crown not the only option for Chinese punters...

The famous Pullman Reef Hotel Casino in Cairns is not letting gaming tsar James Packer have all the action when it comes to attracting cashed-up Chinese gamblers to his legal gambling dens.

Mr Packer said the struggling tourism industry could be saved by attracting Chinese middle class visitors to large casinos.

As well, he said many Chinese tourists liked man-made activities as well as natural attractions.

But Cairns casino chief exec Alan Tan said his venue established a China strategy some six years ago.

"I think, while the casino is important, we offer more than just that. The Great Barrier Reef is very important, especially when I talk to the Chinese who say they like to see the Reef and in the evening they like to enjoy time in the casino as well," Mr Tan said.

Tourism Tropical North Queensland chief executive officer Rob Giason said the casino was part of the overall experience for Chinese holidaymakers.

Cairns Airport chief executive officer Kevin Brown said the casino complemented other activities the Chinese tourists wanted to experience, including dining, shopping and cultural activities.

Casino marketing executive manager Richard Porter said its China strategy included the relocation of Cafe China restaurant to the casino, Chinese language signage and information.

He said casino reps frequented China at least six times a year, worked closely with inbound operators and leading Chinese businessman Harry Sou.

Mr Porter said when China Southern Airlines started flying to Brisbane the casino experienced a "giant leap forward" in Chinese visitors.

So there you go... Packer is far from the only switched on casino and gambling baron. It's going to be mighty interesting to see how Pullman's Alan Tan continues to fair in the Australian "casino wars", as Packer continues on his quest to also takeover Echo Entertainment operations, as well as push forward for his greater "Sin City" Sydney ambitions.

It's said "The house always wins" in casino talk, but can the trio of Crown, Pullman and Echo Entertainment all continue to win big time, or is something going to give (like a merger or acquisition)? Stay tuned as we continue to probe for developments.

Saturday, February 11, 2012

Poker News Media: Bluff Media U. S. Operations Purchased By Churchill Downs, Inc.

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Bluff Media U. S. Operations Purchased By Churchill Downs, Inc...

In a stunning late afternoon announcement on Friday, the famed equine organization Churchill Downs, Inc., announced the purchase of the entirety of the Bluff Media organization’s United States properties.

Although terms of the sale were not disclosed, the purchase by Churchill Downs, a publicly traded company on the NASDAQ stock exchange under the tag “CHDN,” is viewed as a potential move by the company to enter into the online gaming business. In the press release announcing the sale, Churchill Downs representatives state, “(It is Churchill Downs) intention to further expand and build upon Bluff Media’s current content and business model…this acquisition potentially provides (Churchill Downs) with new business avenues to pursue in the event there is a liberalization of state or federal laws with respect to internet poker in the United States.”

The sale is literally for the entirety of Bluff Media’s U. S. operations. Bluff Magazine (in both its print and online versions) and several of its blogs, forums, rankings and other URLs (interestingly, such as BluffPoker.com) will be under the new ownership, but another part of the company that was purchased may be of interest to players. ThePokerDB, one of the more reliable poker databases on the internet, will also be under the Churchill Downs twin spires.

While Churchill Downs has purchased the entirety of Bluff Media, the powers that be will remain in their current positions. Co-presidents Eddy Kleid and Eric Morris, who have been at the helm of the company since its inception, and vice president of online operations Jeff Markley all will remain with Bluff Media and continue to lead the company going forward. Foreign versions of the magazine, such as Bluff Europe, are not expected to be impacted by the sale.

The sale of Bluff Media has once again sparked consideration that the movement towards federally legislated internet poker in the United States. On the Two Plus Two forum, poster ‘oneonth3run’ asks, “Anyone in the know care to speculate what this could mean in the larger picture? They must be expecting certain things to happen at the top, and I wonder how they will utilize BLUFF going forward.”

Others in the 2+2 thread picked up the discussion as to why Bluff made this move at this time. Poster ‘AdamSmall’ stated, “Bluff was a perfect acquisition target really. They’re a US-based, US-heavy poker media company that presumably got hurt badly by Black Friday. They have a lot of reach and a good amount of history in the industry, and I think between their history and their brand name they have a lot of value still. The name Bluff is a very noticeable, reputable and easy to remember name for both current and prospective customers.”

The history of Bluff has been one of the success stories of the poker industry. Starting out as a bimonthly magazine in 2004, within a year it was published on a monthly basis. The magazine became the primary challenger to one of the venerable poker publications in the industry, CardPlayer Magazine, and also has been a partner with the World Series of Poker for its online and radio coverage.

The new partnership will be a way for one of the most recognizable names in the thoroughbred industry to enter into any potential U. S. online poker industry. The owners of the namesake racetrack which hosts the Kentucky Derby, the company also has interests in other racetracks around the United States, its own website (twinspires.com), and half-ownership in Horse Racing TV, among other items. Prior to the announcement of the purchase on Friday, Churchill Downs, Inc. closed at $55.87 on the NASDAQ exchange, a $.44 drop (.78%) from their Thursday price. (Credit: Poker News Daily)

WPT Lucky Hearts Poker Open Day 1A: Uri Kadosh, Eliyahu Levy Lead Jason Mercier...

The first of two Day Ones is in the books for the World Poker Tour’s Seminole Hard Rock Lucky Hearts Poker Open in Hollywood, Florida, with a cozy starting field that should get larger after Saturday’s play.

125 players stepped up on Day 1A, putting up their $3500 buy in for this non-televised event and, although the field was a bit smaller, there were still challenges around the room. Season Ten Player of the Year leader Will “The Thrill” Failla, reigning POY Andy Frankenberger, Jonathan Little, “The Raw Deal” host Tony “Bond_18” Dunst, Shaun Deeb and Matt Waxman were just a few of the familiar faces at the start of the day, but they would be joined by other challengers who decided to take a late registration option.

One of those tables was particularly challenging. Noah Schwartz, Christian Harder and Matt Stout all ended up on the same felt due to late registration for the tournament, while other players went about their day of work with different results. Christopher Tryba was an early casualty when his pocket Jacks failed to catch against an opponent’s pocket Aces, but former WPT champion Rhynie Campbell was able to drop Steve Levy when his Aces stood up against Levy’s K-Q.

As the players worked their way to the dinner break, the field was dramatically reduced in comparison to the time played and the low blinds. From the 125 starters, only 96 players made their way to dinner in a somewhat happy mood. Campbell was one of these eliminations at the hands of Deeb.

It was thought that this pace couldn’t be maintained but the players actually increased the rate of eliminations as the night wore on. Deeb continued to accumulate chips as, against then-chip leader Matthew O’Donnell, he was able to get O’Donnell to lay his hand down on a 6-5-5-8-9 board to move up to 95K in chips. Dunst was not as fortunate, losing with pocket tens to his opponent’s pocket eights.

The Day 1A chip leader would not be determined until the second to last hand of the night. After a short stack moved all in, Uri Kadosh (who had avoided the limelight for much of the day) made the call and tabled Big Slick against his opponent’s suited 4-2. A four came on the flop but, unfortunately for the short stack, a King was there as well. Once the turn and river didn’t bring another four or a deuce, Kadosh had eliminated his opponent to end the night over the 275K mark and reduce the field to fifty players:

1. Uri Kadosh, 275,500
2. Ely Levy, 218,550
3. Jason Mercier, 176,400
4. Omar Sider, 170,600
5. Nick Avera, 133,200
6. Michael Michnik, 121,100
7. David Tiffenberg, 112,900
8. Shaun Deeb, 112,700
9. Victor Heffesse, 111,900
10. Mike Corbett, 111,300

Other notable names that are above the average chip count (44,347) include Shannon Shorr, Matt Giannetti, Schwartz and Waxman, while Allen Kessler and Failla will have some work to do on Sunday.

Perhaps the reason for the high knockout rate on Friday was the “second chance” option the Lucky Hearts tournament provided. For those players who were eliminated on Day 1A, they could buy in again on Day 1B and take a second shot. Several players, including Todd Terry, Kathy Liebert (who commented over Twitter, “I’m on Level 3 today, I think that’s better than Level 1!”), Dunst, Little and Lichtenberger have decided to step up for that second barrel.

By the end of action on Saturday, the total field size as well as the payouts will be known for this latest WPT event. Befitting the tournament’s name, the final table will be played out on Tuesday (Valentine’s Day) and will definitely award the champion with an excellent six figure score. (Credit: Poker News Daily)

Russia’s Rinat Bogdanov Wins WPT Venice Grand Prix...

Battling through a twelve hour final table – as well as the uber-aggressive opponents surrounding him – Russia’s Rinat Bogdanov emerged as the champion of the World Poker Tour Venice Grand Prix early Saturday morning (Venice time).

When the final six men came to the table on Friday afternoon, Italy’s very own Andrea Dato held the lead with his 1.591 million chip stack. This provided him with a good lead over two other contenders, Day Three chip leader Simon Ravnsbaek (922K) and Bogdanov (905K), while the other three members of the final table – Alessandro Longobardi (558K), Andrea Carini (347K) and Gianluca Trebbi (343K) – had their work cut out for them if they were to make a run at the championship.

From the start, Ravnsbaek and Dato were the major players on the felt, pushing their shorter stacked opponents around and adding to their chip stacks. The duo would even clash with each other, with Ravnsbaek coming out on the worse end of a couple of exchanges to chop his stack from second place to fifth within the first hour of action.

After another hour of play, the first elimination would occur. After Dato raised the pot to 50K, Carini pushed his remaining chips to the center of the felt. After Dato made the call and tabled pocket eights, Carini saw that his chances were slim with an off suit A-3. By the turn, he had a gutshot straight draw to go with his Ace, but couldn’t find either on the river, eliminating Andrea Carini in sixth place.

Following Carini’s elimination, Ravnsbaek began to mount a comeback. He doubled up through Longobardi when his pocket Aces were the cooler to Longobardi’s pocket tens, then would take over the lead when he doubled again with A-Q versus Dato’s pocket eights. After three hours of play, Ravnsbaek had been from the penthouse to the basement and back again, holding a slim 200K chip lead over Dato that, unfortunately, wouldn’t last very long.

After moving all in on several occasions, Gianluca Trebbi was eliminated in fifth place when his 10-7 of hearts failed to catch against Longobardi’s pocket Jacks. Ravnsbaek’s aggressive play finally caught up with him when he pushed all in for 600K with pocket deuces and Bogdanov looked to see pocket tens in his hole cards. Once the board ran with no help for him, Ravnsbaek was out of the tournament in fourth place.

By the time the dinner break rolled around, Dato had moved back into the lead over Longobardi and Bogdanov, with the Russian’s chip stack shrinking in comparison to his two foes. Dato and Longobardi went to battle following dinner, with Dato picking up a big pot on a complete bluff to push his stack to the three million mark and drop Longobardi to just over one million.

It was at this time that Bogdanov began his charge. Basically pushing with any two cards, Bogdanov would find a double through Dato to get back into the mix. After picking up a big hand against Longobardi, the three players were virtually equal in chips.

Bogdanov would make the first breakthrough, resulting in the elimination of Dato. After Dato jammed with an unassuming K-4 off suit, Bogdanov found Big Slick in his hand and made the call. An Ace on the flop basically ended the hand and, once a blank came on the turn, Andrea Dato was out in third place and Rinat Bogdanov became the surprising chip leader.

Within two hands of Dato’s departure, the tournament was over. After losing the first hand, Longobardi raised it to 200K holding an off suit K-Q and Bogdanov made the call with only a 6-4. Longobardi caught a Queen on the flop, but there was a four there as well and Bogdanov called a bet from Longobardi. When a six came on the turn, Bogdanov made two pair and check called another bet from Longobardi. Another four on the river brought the fireworks as, after Bogdanov checked, Longobardi fired off 300K. Bogdanov moved all in and, after a moment, Longobardi made the call, only to see his Queens up vanquished by Bogdanov’s full boat.

1. Rinat Bogdanov, €229,800
2. Alessandro Longobardi, €111,700
3. Andrea Dato, €72,275
4. Simon Ravnsbaek, €52,565
5. Gianluca Trebbi, €42,705
6. Andrea Carini, €32,195

With the end of the WPT Venice Grand Prix, the tournament circuit will come back to the U. S. for their next three tournaments. Beginning today, the Seminole Hard Rock Lucky Hearts Poker Open is in action while, later in the month, the L. A. Poker Classic will be contested. In March, the WPT will visit San Jose, California, for the Bay 101 Shooting Star and, in April, the WPT will head back to Europe with a stop in Montesino, Vienna, Austria. (Credit: Poker News Daily)

2012 WPT Venice Grand Prix Day 3: Simon Ravnsbaek Leads Tight Final Nine...

It is going to be a short day at the World Poker Tour (WPT) Venice Grand Prix on Thursday. If this wasn’t the World Poker Tour, the nine players remaining might be going to bed mentally preparing for Day 4’s final table action. But this is, in fact, the WPT, and final tables here are six-handed, so Day 4 will see just three eliminations before adjourning. Bagging up the most chips at the end of Day 3 was Denmark’s Simon Ravnsbaek, proud owner of a 795,000 chip stack.

Ravnsbaek isn’t on an island, though. Alessandro Longobardi is right behind with 783,000, Andrea Dato is close with 726,000, and Jason Wheeler is sitting on a stack of 699,000 chips. In fact, it looks like it could still be just about anybody’s tournament, as all but two players have over 400,000 chips. And those two players – Rinat Bogdanov and Massimo Mosele – have 20 and 16 big blinds, respectively, so it’s not like they are already at “all-in with any two cards” mode…yet.

The story of Day 3 was arguably the fireworks that surrounded the chip leader going into the day, Marcel Bjerkmann. The fun started on the bubble when the tight Lionel Tran moved all-in for his last 50,000 chips with pocket Kings. Bjerkmann had tons of chips, so why not call with J-4 suited? Tran was still doing alright after the flop of J-T-8 rainbow, but another Jack on the turn allowed the chip leader to suckout and put everyone remaining into the money.

A little while later, after Bjerkmann had been moved to an aggressive table, he four-bet shoved on Simon Ravnsbaek with just A-4. Ravnsbaek made the call with Q-Q and doubled-up to about 330,000 chips. Bjerkmann was still doing fine, though, falling to 460,000.

After the next break, things got crazy. James Akenhead raised to 8,500 pre-flop and was called by Andrea Dato, Marcel Bjerkmann, and one other player. Upon the Qc-8h-7s flop, the players check to Dato, who bets 15,000. Bjerkmann decided to go with a check-raise to 44,000, forcing the other two players to fold before Dato called. The dealer laid out the 8d on the turn, prompting a 64,000 chip bet from Bjerkmann and another call by Dato. Bjerkmann again led out on the river for 82,000 when the 4h was dealt. Dato proceeded to ponder his move for two full minutes before calling.

As he was the original bettor, Bjerkmann had to show first, revealing he was on a complete bluff with just 5c-9c. Dato must certainly have had that beat, but it almost must have been a tough decision to call, considering how long he took to act. Right? Not quite. Dato flipped over pocket 7’s for the full house.

Bjerkmann was incensed. “That is the sickest slow roll I have ever had in my life,” he growled at Dato. “Do not talk to me dude. If you see me in the street do not talk to me.”

Undeterred, Bjerkmann kept on plugging away, but that didn’t mean he was calm. He continued to jaw at Dato throughout the night, regardless of whether or not the two were involved in a pot together (they were on more than one occasion). Eventually he succumbed to the current chip leader, Simon Ravnsbaek, as his Ah-8h could not improve against pocket 5’s.

Play will resume at 1:00pm local time as the tournament makes it down to the final table. Again, it should be a short day, as only three more players must be eliminated for that to happen.

2012 WPT Venice Grand Prix – End of Day 3 Chip Counts

Simon Ravnsbaek: 795,000
Alessandro Longobardi: 783,000
Andrea Dato: 726,000
Jason Wheeler: 699,000
Gianluca Trebbi: 474,000
Andrea Carini: 430,000
Jeremie Sochet: 402,000
Rinat Bogdanov: 201,000
Massimo Mosele: 163,000 (Credit: Poker News Daily)

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Monday, February 6, 2012

Casino News: Bwin.Party, Fertitta Interactive Applies for NV Online Gaming License, Stallone Casino Talk, Australia...

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Bwin.Party CEO Sees Legal Online Gaming In US Soon...

-Legalized online gambling in the U.S. is now a case of 'when', not 'if', Bwin.Party Digital Entertainment PLC (BPTY.LN) chief Jim Ryan said Wednesday, adding that he expects the foundations to be laid this year.

But speaking on the fringes of the ICE online gambling conference in London, the co-chief executive cautioned that setting it up will take time.

The process of passing legislation, drawing up regulation, vetting and licensing operators will likely last through 2012, he said, and he speculates that actual operations probably won't get off the ground before next year.

Partygaming, which last year merged with Austrian peer Bwin to form Bwin.Party, along with other European operators withdrew from the U.S. market in 2006 shortly after then-President George W. Bush signed a bill designed to prohibit U.S. banks and credit card companies from processing payments to gambling websites.

Partygaming paid a $105 million fine as part of a non-prosecution deal with the DOJ in 2009, for admitting indirect contravention of US law, but in anticipation of a relaxation of the rules, Bwin.Party last year signed a joint venture with U.S. casino operators MGM and Boyd to operate online gaming if and when it became legal in the U.S.

Ryan's confident tone comes after a recent ruling by the U.S. Department of Justice, which clarifies the scope of the Wire Act, a law that in the past has been used stop online gambling sites. The ruling essentially gives U.S. states the green light to allow gambling within their borders, according to online gambling experts.

Still, Ryan said this doesn't mean the company is in line to recoup any of the$105 million fine.

Bwin.Party and its joint venture partners have already applied for a preliminary suitability review in Nevada which will lay the groundwork for gaining a license there once regulation is agreed.

Ryan also told Dow Jones the sale process for its Ongame poker network is very advanced and he expects to be able to announce further news in the not too distant future.

He confirmed recent reports that the company is looking for an executive to head up its payments processing division CQR with a view to ultimately taking it public, but said this was several years away.

He said the company wants to expand its online payments operations outside of the gambling sector to build an online merchant market place, increasing the value of this asset and ultimately realising shareholder value by listing it on the stock market.

Fertitta Interactive Applies for NV Online Gaming License...

The list of brick and mortar casino owners applying for Nevada intrastate online gaming licenses just keeps growing. Fertitta Interactive is the latest organization to submit an application.

Fertitta Interactive is partially owned by Frank and Lorenzo Fertitta, owners of the popular Station Casinos as well as the Ultimate Fighting Championship brand. Former Golden Nugget owners Tim Poster and Tom Breitling also have a stake in Fertitta Interactive. The company acquired software provider CyberArts in the fall of 2011 and they are now taking steps to be a force in the online gambling world.

“We support the regulation of online poker,” said Lorenzo Fertitta, founder of Fertitta Interactive, in a Thursday press release. “Our industry leading software has a track record of complying with the strictest regulations in jurisdictions around the world. Nevada has always been the leader in gaming regulation and we’re pleased to file our application here. Our goal is to provide customers with the best online gaming experience in a safe and well-regulated online environment.”

CyberArts currently supplies its Foundation Poker software to the free play site PurePlay poker. Fertitta Interactive is now one of a dozen companies who have applied for licenses along with brick and morter entities MGM Resorts, Caesars Entertainment, Boyd Gaming, Monarch Casino, and South Point. Software providers Cantor Gaming, IGT, 888 Holdings, Shuffle Master, Aristocrat Technologies, and Bally Technologies have also applied for licenses.

Fertitta’s announcement is the latest in a string of announcements from Las Vegas gaming companies that indicate that regulated online gambling appears to be happening in the near future. Earlier this week, Caesars Interactive and longtime European partner 88 Holdings revealed they are expanding their partnership to include US gaming. Online free money gaming juggernaut Zynga also hinted last month that a real money venture could be a possibility in the future as well.

Ocean’s Eleven Cyprus Style...

Every now and again reports surface about the creation of casinos in Cyprus. Over the past couple of months the frequency of these rumours has increased considerably with various ministers (finance, communications etc) being quoted and billionaire investors itching to be the first to acquire the much coveted licence.

This goes against the President’s anti-gambling principles who stated a couple of years ago that as long as he is in power there will be no casinos. However an Akel MP (Mouskallis) said around the same time that AKEL will favour the creation of a casino provided the time is right. It appears that the recession, rising unemployment, shortage of liquidity are conditions for such an initiative.

However when walking around the main cities one comes across shops with a massive sign hanging outside stating ‘Casino’ or to be more precise ‘On Line Casino’. According to unofficial reports there are said to be close to 200 such establishments. There is even one called the Bellagio which was raided recently by police but no Danny Ocean’s or Reuben Tishkoffs were arrested.

Of course there are plenty of proper ‘pseudo’ casinos in the occupied parts which are crammed with Greeks. The recent rumours though have alarmed the president of the Casinos Association in the north, Mr. Etsensoi, as the realization of such rumours will have a disastrous effect on their industry.

Stay tuned for more from Cyprus.

Anti-gambling pamphlets direct users to TAB hotline...

The Victorian Government has been forced to pulp pamphlets aimed at problem gamblers which directed them to a phone line encouraging them to bet.

The pamphlet for people who want to exclude themselves from gaming venues directs callers to a TAB hotline, where gambling products are promoted.

Victorian Gaming Minister Michael O'Brien says it was an oversight.

"The telephone number that was used for self exclusion was the Tabcorp customer service number," he said.

"It is possible to access self-exclusion services from that general number, but the Victorian Government believes, and Tabcorp and Gambler's Help also agree, that it's far better if the distinct self-exclusion number is used in the future."

The bungle comes as the State Government announces it has decided to delay the introduction of pre-commitment technology for poker machines.

The Government promised before the last election to introduce voluntary pre-commitment by 2013, giving punters the option to set a gambling limit.

But Mr O'Brien says the plan is being delayed until 2016 because confusion around the Federal Government's plans for mandatory pre-commitment would make it too complicated.

"There's the risk that that may be incompatible with what the Federal Government requires," he said.

He says the Victorian Government is committed to introducing voluntary limits.

"We believe that every gaming machine in this state should have pre-commitment on it, we think that's an option that is there for every single player who wants to track their expenditure, help set themselves limits," he said.

"We think that will lead to a much more responsible gambling industry and that's what we want to see here in Victoria and that's what we thing the community wants to see as well."

The move has angered anti-pokies campaigner, Tim Costello, who says the Government is making excuses for doing nothing.

"Proof again of the utter capture of state governments' by the gambling lobby," he said.

NSW deals with its own pokies pressure...

The New South Wales Government has been accused of ignoring problem gambling through recent changes to poker machine laws.

Premier Barry O'Farrell struck a deal with NSW clubs in the lead-up to last year's state election.

A memorandum of understanding was struck which led to legislative changes allowing clubs to build another site without giving up as many poker machine licenses.

The concession was initially only granted in the proposed club was within a new housing estate.

But on Friday the minister responsible, George Souris, expanded the concession to clubs building within a kilometre of a new housing estate.

Opposition Leader John Robertson says Mr Souris has undermined Federal Government efforts to tackle problem gambling.

"We have a government in New South Wales that's actually trying to make it easier for clubs to relocate poker machines around the state, while we've got a Prime Minister who's trying to look at how we can address problem gambling," he said.

"The contrast couldn't be more stark. Barry O'Farrell, who wants to allow and make it easier for poker machines to be relocated, and a Prime Minister who is at least looking at ways that we can reduce problem gambling."

Greens MP John Kaye shares Labor's concerns.

"It has made the laws easier for clubs to move their pokers machines into areas of high concentration of potential addiction," Dr Kaye said.

Meanwhile a spokesman for Premier Barry O'Farrell says the the State Government will hold talks with the Commonwealth about potentially extending a trial of pre-commitment technology into NSW.

Prime Minister Julia Gillard announced on the weekend that mandatory pre-commitment for poker machines would be trialled in the ACT.

The Federal Government wants clubs just across the border in Yass and Queanbeyan to be included, to stop punters from skirting the trial.

Mr O'Farrell's spokesman says the Premier is opposed to the technology but will wait for a full briefing.

A bid to lure Asian punters to cost a billion dollars plus...

Billionaire James Packer has already spent hundreds of millions of dollars upgrading the Burswood Casino complex and is reported to be willing to spend a billion dollars more revamping it.

It is all part of a bid to attract more oriental customers to Australia.

In December, Mr Packer revealed his Perth-based casino would be re-branded Crown Perth in the second half of 2012.

"It will allow Burswood to utilise the internationally recognised Crown brand in order to increase the number of international and interstate visitors to Perth, especially from the strategically important China market," he said.

The plan is to offer an "integrated resort" - a term more frequently used in the Macau region.

Such a resort is a one stop shop - it is a large scale development which incorporates a number of facilities such as a casino, accommodation, retail shops, restaurants, bars and nightclubs, cinemas, galleries and even theme parks.

Mr Packer believes integrated resorts growing international tourism and he is in negotiations with the State Government to purchase land to build a new five star hotel and entertainment complex on the Burswood site.

The Burswood Entertainment Complex is already undergoing a $750 million upgrade which is due to be completed by the end of the year.

Mr Packer thinks Australia can crack the Asian market in integrated resorts, a concept that has been highly successful for Asian neighbour Singapore.

Two integrated casinos, Resorts World Sentosa and Marina Bay Sands, were opened there in 2010 and have been highly profitable.

Mr Packer is hoping to emulate this.

"Marina Bay Sands is the most profitable casino in the world," he said.

"Singapore's gross domestic product increased by 14.5 per cent in 2010."

Citi equities analyst Jenny Owen says the tourism boost from these casinos to the Singaporean economy is evident.

"Inbound arrivals grew 20 per cent in 2010 and 15 per cent in the third quarter of the 2010-2011 financial year and tourism revenue grew by 49 percent in 2010," she said.

"The evidence from Singapore is that if you build it, they will come, and the economic benefits extend beyond the direct casino revenues."

Resort World and Marina Bay Sands are predicted to generate a revenue of more than US$71 billion by 2015.

A PricewaterhouseCoopers (PWC) report is forecasting the Asia Pacific will be the fastest growing region for casino gaming in the next five years.

It predicts that Asia Pacific will overtake the United States as the world's largest casino market in 2013, with a compound annual revenue growth rate of 18.3 per cent between 2011 and 2015.

PWC says Australian casinos are finding it hard to attract high spenders from other countries due to increased competition from Singapore and Macau.

This increased competition was partially to blame for the 8.6 per cent fall in Burswood's 2011 financial year earnings before tax.

The casino's VIP program play revenue also fell, to $535 million last financial year.

Overall, international visitors contribute to 37 per cent of the casino's revenue and part of Mr Packer's strategy is to source new customers from China in order to compete with Singapore and Macau.

Ms Owen says Asian tourists represent the only meaningful growth segment in the near term.

"Inbound tourists from Asian countries spend much more on average on gambling while visiting Australia than tourists from other countries," she said.

"It would seem that revenues are available for Australia to grow its share of the international casino tourists' wallets."

She says the upgrades are also about Australia gaining back its share of the region's gaming market.

"Australia's share of gaming revenue in the South East Asia region has fallen from 30 per cent to 9 per cent in past five years," she said.

"There is money in casinos, particularly those located near Asia."

Apart from the United Kingdom, most of the visitors to Perth come from Asia.

Tourism Research Australia found visitors from Asian countries spent $919 million during their time in WA, almost half the total spent by international tourists.

Tourism Research Australia also found Perth is a popular destination for people from Asia with Singaporeans, Malaysians and Indonesians the state's top Asian markets.

The Tourism Minister Kim Hames says China is WA's fastest growing market in terms of economic value, worth $3.4 billion.

He is hoping for a fivefold increase in Chinese visitor numbers.

"Visitors to WA from China have increased by 55.8 percent to 18,700 for the year ending September 2011," he said.

"The aim is to increase the number of Chinese visitors to WA from the current level to 100,000 a year by 2020.

" Introducing direct flights between Perth and China is part of the strategy and China Southern Airlines is now operating services three times a week".

Dr Hames says he supports the Burswood redevelopment.

"There is no doubt that Chinese tourists would be attracted to a world class integrated resort in Perth and the development of Burswood presents an opportunity for the WA tourism industry," he said.

Apart from the casino complex, Burswood is set to be transformed into a major tourist precinct with the State Government decision to build the new 60,000 seat sports stadium at the site.

Despite the State Opposition's demands that Mr Packer contribute funds towards the sporting complex, Dr Hames says it is not appropriate.

" We saw the evidence of private companies investing in partnership with Government during the WA Inc years and frankly it turned out to be a disaster," he said.

"This is public instructure and we think it is appropriate that the State Government and hopefully the Commonwealth Government fund state infrastructure."

He would prefer Mr Packer to build his hotel.

"We are desperately short of hotels in this state," he said.

"I would much rather put his money into a private enterprise project like a new hotel than starting to do deals with private companies to get public infrastructure."

Mr Packer isn't arguing.

"If we were asked to do that at the beginning, our response would have been we are not in the stadium business, they are not a great business," he said.

"Now the Premier has decided to put it there we are very grateful and I think it is the right place.

Mr Packer believes the expansion of his casino and the new stadium will fundamentally change Burswood.

" I think the Burswood peninsula can be one of those waterfront precincts that really has the opportunity to be something special".

And, will hopefully encourage tourists to flock to Western Australia.

Bwin.Party Digital Entertainment Responds to DoJ Indictment against Megaupload...

Bwin.Party Digital Entertainment, the largest online gaming company in the world, formed by the recent merger of PartyGaming and Bwin, has responded to the US Department of Justice’s (DoJ) 72-page-long indictment against Megaupload.com, a file hosting service. PartyGaming as well as its online poker gaming brand PartyPoker is now part of Bwin.Party. Bwin.Party is also the firm behind the world famous PartyCasino brand.

According to the DoJ’s indictment, PartyGaming has spent more than $3 million on marketing campaigns, as part of which PartyPoker has been advertised on sites that form part of Megaupload.com. The DoJ has accused Megaupload.com of infringing copyright, pirating, and money laundering. As a result of this indictment, 18 domain names belonging to Megaupload.com have been shut down by the DoJ and several people associated with it, including Kim Schmitz, the founder of Megaupload.com, have been arrested.

As soon as Bwin.Party came to know of these developments, it terminated the marketing and advertising agreement it had signed with the company and issued a public statement in which it stated that Megaupload.com had specifically promised that it would not infringe on copyrights belonging to third parties on their sites, which get over 50 millions hits per day.

John Shepherd, the Bwin.Party marketing executive, said, “We had no knowledge about any of the alleged activities undertaken by Megaupload.” Further stating that Bwin.party was totally unaware that Megaupload was involved in such activities, Shepherd said, “We’re a completely innocent party. They (the DoJ) have obviously put the details of our contract in the indictment to help make their case about the amount of money that was going through Megaupload.”

However, Bwin.Party and PartyGaming are not the only parties named by the DoJ in its indictment against Megaupload.com. Also mentioned are names such as PayPal and Moneybookers. Stating that he has absolutely no idea of the reasons for which PartyGaming was mentioned, Shepherd assured the online poker gaming industry that Bwin.Party is totally innocent of and was totally unaware of any illegal activities Megaupload.com stands accused of.

Megaupload.com belongs to Megaupload Limited, an online company based in Hong Kong, which offered several varieties of file hosting services. On Jan 19, 2012, the US DoJ seized 15 domain names belonging to the company and shut down the sites on allegations that company was continuously involved in infringement of copyrights belonging to third parties. Besides, the Hong Kong Customs and Excise Department froze HK$330 million in assets belonging to the company.

Megaupload Data 'To Be Destroyed In Days'...

Megaupload founder Kim Dotcom

American prosecutors have warned that data from users of file-sharing site Megaupload could be deleted from host servers within days.

US officials have blocked access to Megaupload and charged seven men, saying the site facilitated millions of illegal downloads of movies, music and other content.

Megaupload previously hired outside companies to store clients' data but its lawyer, Ira Rothken, said the US government has restricted this by freezing its funds.

A letter filed by prosecutors on January 27 said storage companies Carpathia Hosting and Cogent Communications Group may begin deleting data from Thursday onwards.

Representatives of the two companies declined to comment on the move.

Last week site founder Kim Dotcom, who was accused of internet piracy, was denied bail in New Zealand ahead of an extradition bid by the US.

The US Department of Justice took control of the company's website and posted an FBI anti-piracy warning.

New Zealand police allegedly found Dotcom - formerly known as Kim Schmitz - in a sealed panic room at his leased mansion.

Officers seized assets worth $50m (£32m) in the raid, including guns, artwork, luxury cars and $8m in cash.

In response, anarchic freedom of speech campaigners launched a cyber attack on US government and mainstream music industry websites.

Mr Rothken said Megaupload is working with prosecutors to try to keep the masses of data from being erased.

He advised at least 50 million Megaupload users around the world are in danger of losing files.

Mr Rothken said that, besides its customers, the data is important to Megaupload so it can defend itself in the legal case.

"We're cautiously optimistic at this point that because the United States, as well as Megaupload, should have a common desire to protect consumers, that this type of agreement will get done," he said.

Some legitimate site users, such as software developers, have complained that their data has been inaccessible since US officials took action against the company.

Megaupload mansion in New Zealand

Internet Gambling Coming to an American State Near You? What the DOJ’s Change of Heart Means for the Immediate Future of Internet Gambling...

Reeling from the federal shutdown of the three biggest Internet gambling websites in April 2011, there was little confidence left in the online gambling industry that the U.S. was any closer to legalizing online gambling as 2012 neared. The Unlawful Internet Gambling Enforcement Act (UIGEA) offered a glimmer of hope to states seeking to legalize intrastate online gambling, but the statute seemingly left the Wire Act’s prohibitions in tact. Chances of Congressional action evaporated after two bills calling for federal legalization of online gambling were shelved indefinitely in the fall.

On December 23, 2011, however, in response to several state lottery requests that the DOJ formally reiterate its position on whether the Wire Act prohibits non-sports interstate gambling transmissions, the Department announced it was abandoning its long-held position that the Wire Act proscribed all forms of Internet gambling. The DOJ reversed course, officially adopting the view that the Wire Act only prohibits interstate sports gambling transmissions, allowing states to offer lottery games over the Internet to in-state customers without fear of violating federal law.

While this was certainly welcome news to the state lottery boards, the biggest winner is undoubtedly the Internet gambling community. The DOJ long-maintained that all Internet gambling transmissions, even intrastate ones, violated the Wire Act, arguing that all Internet transmissions inherently travel across state lines. This position effectively prohibited all forms of online gambling in the U.S. Under the DOJ’s new interpretation, however, only Internet sports bets violate the Wire Act, enabling states that choose to do so, to legalize casino-style (non-sports) Internet gambling.

Under the DOJ’s new take on the Wire Act, states that legalize online gambling will still have to comply with certain federal regulations. UIGEA provides that intrastate online gambling is not considered “unlawful” so long as the state utilizes certain safeguards to ensure that the bettor is physically located in a state where Internet gambling is legal and that the bettor is at least 18 years of age. Sports betting over the Internet is still proscribed by the Wire Act.

As states strapped for cash desperately search for new sources of revenue, expect state-regulated online gambling to get a good, hard look from many state legislatures in 2012. It may not be long before a revitalized online gambling industry in the U.S. ushers in federal legalization.

Sylvester Stallone coming to Fallsview Casino...

Don’t worry Rambo and Rocky fans, Sylvester Stallone is not coming to the Fallsview Casino to flog some product. No, the ‘Italian Stallion’ is coming to do two nights of intimate Q&A’s about his career on the weekend of February 24 and 25. Should be interesting for big fans of the action star with a spare $90.

Stallone, who will be seen later this summer in The Expendables 2, is the third actor to do an An Evening with… at the Fallsview Casino. Al Pacino and Sean Penn have both appeared on stage there last year.

For more info and to purchase tickets, visit fallsviewcasinoresort.com.

Official info:

An Evening with Sylvester Stallone
Friday, February 24 and Saturday, February 25
Showtime: 9 p.m., doors open at 8 p.m.
Tickets start at $90

Known for his roles as Rocky Balboa in the Rocky movies, John Rambo in the Rambo movies and most recently Barney Ross in The Expendables, Sylvester Stallone has had a tremendous career. Don’t miss your opportunity to spend an evening with the movie legend Sylvester Stallone, LIVE, on stage for a candid interview and Q&A session with the audience that will highlight his extraordinary career and life.

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Saturday, February 4, 2012

Qatar pays record $250m for Cezanne - 5th February 2012

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OIL-RICH Qatar has bought Paul Cezanne's painting The Card Players for more than $250 million, by far the highest price yet paid for a work of art.

Previously, a Jackson Pollock - No. 5, 1948 - held the record, sold for $140 million in pre-recessionary 2006.

Vanity Fair magazine points out that only four other versions of Card Players exist - Cezanne painted them as a series in the 1890s. They are all housed in world-class museums, including the Musee d'Orsay in Paris and the Metropolitan Museum of Art in New York.

"The purchase is just the latest bid in Qatar's effort to become an international intellectual hub," the magazine wrote, adding that it "upends the modern art market."

According to the Gulf Times, Qatar has the third highest density of millionaires in the world after Singapore and Switzerland.

The sale, which took place last year, was confirmed to the magazine by multiple sources only last week.

Qatar's royal family declined to comment and all other players involved in the sale signed confidentiality agreements.

The Card Players bought by Qatar is one of three that shows two men at a table playing cards.

"$250 million is a fortune," Victor Wiener, a fine-art appraiser told Vanity Fair. ''But you take any art-history course and a Card Players is likely in it. It's a major, major image."

Cezanne inspired Cubism and helped pioneer abstract art, and Picasso called him "the father of us all." (Credit: GNE)

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Friday, February 3, 2012

Bwin.Party Digital Entertainment Responds to DoJ Indictment against Megaupload

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Bwin.Party Digital Entertainment, the largest online gaming company in the world, formed by the recent merger of PartyGaming and Bwin, has responded to the US Department of Justice’s (DoJ) 72-page-long indictment against Megaupload.com, a file hosting service. PartyGaming as well as its online poker gaming brand PartyPoker is now part of Bwin.Party. Bwin.Party is also the firm behind the world famous PartyCasino brand.

According to the DoJ’s indictment, PartyGaming has spent more than $3 million on marketing campaigns, as part of which PartyPoker has been advertised on sites that form part of Megaupload.com. The DoJ has accused Megaupload.com of infringing copyright, pirating, and money laundering. As a result of this indictment, 18 domain names belonging to Megaupload.com have been shut down by the DoJ and several people associated with it, including Kim Schmitz, the founder of Megaupload.com, have been arrested.

As soon as Bwin.Party came to know of these developments, it terminated the marketing and advertising agreement it had signed with the company and issued a public statement in which it stated that Megaupload.com had specifically promised that it would not infringe on copyrights belonging to third parties on their sites, which get over 50 millions hits per day.

John Shepherd, the Bwin.Party marketing executive, said, “We had no knowledge about any of the alleged activities undertaken by Megaupload.” Further stating that Bwin.party was totally unaware that Megaupload was involved in such activities, Shepherd said, “We’re a completely innocent party. They (the DoJ) have obviously put the details of our contract in the indictment to help make their case about the amount of money that was going through Megaupload.”

However, Bwin.Party and PartyGaming are not the only parties named by the DoJ in its indictment against Megaupload.com. Also mentioned are names such as PayPal and Moneybookers. Stating that he has absolutely no idea of the reasons for which PartyGaming was mentioned, Shepherd assured the online poker gaming industry that Bwin.Party is totally innocent of and was totally unaware of any illegal activities Megaupload.com stands accused of.

Megaupload.com belongs to Megaupload Limited, an online company based in Hong Kong, which offered several varieties of file hosting services. On Jan 19, 2012, the US DoJ seized 15 domain names belonging to the company and shut down the sites on allegations that company was continuously involved in infringement of copyrights belonging to third parties. Besides, the Hong Kong Customs and Excise Department froze HK$330 million in assets belonging to the company.

Megaupload Data 'To Be Destroyed In Days'...

Megaupload mansion in New Zealand

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Thursday, February 2, 2012

Entertainment, Gaming, Casino And Celeb And Movie News Update - 2nd February 2012

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Lyric Theatre At The Star In Sydney To Get 'An Officer and a Gentlemen'...

Riding on the success of live musicals, The Star, currently host to 'Annie', will be presenting the world famous 'An Officer And A Gentlemen' from 18th May.

Based on the hugely successful Academy Award-winning film, this new production has been adapted for the stage. A rich and satisfying story that has endured for generations, An Officer & A Gentleman is a modern day love story.

Star casino sacks top exec over sexual harassment claims...

The GM of The Star casino, Sid Vaikunta, has been terminated.

The chief executive of Echo Entertainment Group, Larry Mullin, said in a statement to the Australian Securities Exchange that "Mr Vaikunta's employment has ended after his behaviour in a work setting".

It is understood the statement refers to one of more incidents of sexual harassment in the workplace.

The annoucement comes just weeks after The Star received a clean bill of health and had its licence renewed by the Casino, Liquor and Gaming Control Authority.

Mr Vaikunta has been replaced by Frederic Luvisutto, who joined The Star from Jupiters Gold Coast.

The Media Man agency and its Casino News Media offshoot wish Mr Luvisutto well in his new role.

WWE Wrestlers To Clean House At Sydney's Allphones Arena 31st August 2012; WWE Gets New Creative and Development VP...

Aussie pro wrestling fans - get ready to rumble with the one and only WWE as seen on Australia's Foxtel.

The world's best professional wrestlers aka "sports entertainers" are going to come down under again and ply their craft in front of some of the world's most passionate and knowledgeable wrestling fans.

WWE Gets New Creative Boss...

No, it's not about John Laurinaitis (Executive Vice President of Talent Relations and Raw interim General Manager).

Ex Reveille and Warner Bros. exec Eric Pankowski has entered the ring at WWE as Senior Executive Vice President of creative and development.

Pankowski had joined Reveille in September as SVP of creative affairs, overseeing syndicated programming. In his new role with sports entertainment powerhouse, WWE, he will be responsible for all TV creative development, including reality and kids programming.

He will also manage WWE's creative writing teams and oversee the sale of programming to networks, studios and other distributors.

"No more bad storylines like what the world witnessed in the dying days of WCW please. WWE needs storylines for the times - as realistic and possible with a pro wrestling based product", a Media Man staffer was overheard.

"Eric is a creative veteran whose knowledge and experience will be a tremendous asset in both the creation of new WWE content as well as enhancing our core product," said WWE exec veep of creative Stephanie McMahon, to whom Pankowski will report.

Stephanie is the daughter of WWE founder and top brass, Vince McMahon.

Pankowski enjoyed 12 years at Warner Bros, culminating in his role as SVP of production company ParaMedia ("Lopez Tonight"). He has also been director of programming at Telepictures ("The Ellen DeGeneres Show").

Media Man and the existing WWE team wishes Eric Pankowski well in his new assignment and is looking forward to seeing results from his contribution.

Casinos Shares Get Boost...

Casino operators Crown and Tabcorp spinoff Echo Entertainment could increase revenue by billions of dollars if they manage to regain share of Asia's growing gambling market, according to a Citi report.

The report cited estimates by Australian tourism body, Tourism Australia, that the contribution by international tourists to Australian casino revenues had fallen from 12 per cent to 8 per cent since 2004, when rival markets opened in Macau, and more recently in Singapore.

"Australia's share of gaming revenue captured in the region of south-east Asia has fallen from 30 per cent to 9 per cent over the past five years," Citi gaming analyst Jenny Owen's report said.

Little wonder Crown Limited top brass James Packer has been so vocal as to the role that Australian land based casinos play in our tourism industry.

Crown and Echo are investing a combined $3.7 billion to entice mainly oriental clients to their casinos.

A 9 per cent share of the regional market would rocket Australian casino revenues to $3.73 billion this year from $3.43 billion in 2011, the report said.

It said that to give an example of the potential gain, a 15 per cent share of the regional market this year would equate to $5.63 billion in revenue for Australia's casinos.

This could add more than $188 million to earnings before interest and tax at Crown and $137 million at Echo, according to Citi, which based the numbers on last year's revenue share for the two firms.

Citi said Echo Entertainment was better positioned to reap any potential jackpot because its casinos were in more attractive tourism markets than Crown.

"Echo has more leverage in our view as Sydney outranks Melbourne as a preferred destination, and Brisbane and the Gold Coast outrank Perth," the report started.

The Media Man agency director owns shares in Crown Limited.

Problem gambling measures to proposed in Australia...

In Australia, the government of Prime Minister Julia Gillard has announced that it plans to introduce new measures to tackle problem gambling including a provision that would limit the amount of money a player can withdraw from an in-venue cash machine to $250.

The government revealed that it will propose legislation in the next Parliamentary session that would also require all new poker machines manufactured from 2013 to be capable of supporting pre-commitment and link up with a state-controlled pre-commitment system from 2016.

“We will also continue to work on pre-commitment technology through the COAG Select Council on Gaming Reform,” read a statement from the Gillard Government.

“At this forum in May last year, state and territory gaming ministers agreed to support the required infrastructure for pre-commitment technology in all jurisdictions.

“The Gillard Government understands that many Australians enjoy gambling responsibly but for others it can have devastating consequences. Problem gambling ruins lives and that’s why in November of 2008 we asked the Productivity Commission to inquire into problem gambling in Australia.

“The Productivity Commission found that problem gambling affects up to five million Australians including friends, family and employers of people with a gambling problem. These far reaching impacts are why the Australian Government is delivering genuine long-lasting reforms to help problem gamblers and their families.”

Regarding online gambling, the Gillard Government is planning to introduce legislation that would further ban the promotion of live odds during sports coverage and extend pre-commitment to those offering wagering services over the Internet. There are also measures planned to ‘crack down on online sportsbetting companies offering credit’ and passing ‘stricter limits on betting inducements’ while increasing the powers of the Australian Communications and Media Authority (ACMA) to enforce any new rules.

“The actions the Gillard Government is taking will be the most significant and far reaching national reforms to tackle problem gambling ever seen in this country,” read the statement from the Gillard Government.

Kerry Packer to be played by Lachy Hulme in Nine mini series...

The role of Kerry Packer will be played by actor Lachy Hulme in the Nine Network's mini-series focussing on the media and gambling tycoon's creation of World Series Cricket.

The Offspring and Hollowmen star will play the role instead of actor Rob Carlton.

Carlton was widely expected to reprise his role in the Nine mini-series after starring as Packer in ABC's acclaimed Paper Giants: The Birth of Cleo last year.

However, The Sunday Telegraph reports that Carlton, who received an AACTA Award nomination for playing the mogul, was dumped in favour of Hulme after Nine Entertainment Co chief executive David Gyngell and producer John Edwards witnessed Hulme's audition tape.

Gyngell was reportedly "blown away" by Hulme's impersonation.

Carlton told The Sunday Telegraph: "I had a fantastic time on Paper Giants and was proud of the work I did."

"Obviously I was really looking forward to doing Kerry Packer with Channel Nine and I thought that's what we were all moving towards."

A potential sequel to Paper Giants is tipped for the ABC, however it's not known whether Carlton would reprise his role.

As well as being nominated, Carlton will also present at Tuesday's AACTA Awards which will be televised on Nine at 9:30pm.

Hulme will also star as miner Todd Russell in Nine's Beaconsfield telemovie which will air later this year, also produced by Edwards.

Howzat: The Kerry Packer Story will air later in the year.

Gina Rinehart becomes biggest Fairfax shareholder...

Australia's richest woman, Gina Rinehart, has become the largest shareholder in newspaper publisher Fairfax Media in what could become a play for control of the 181-year-old company.

Ms Rinehart, a mining industry billionaire, had acquired 12.8 per cent of the nation's second-largest newspaper company by late today.

This puts her ahead of Commonwealth Bank's 12.4 per cent, according to IG Markets analyst Chris Weston.

The news pushed Fairfax shares up 7.5 cents, or 10.14 per cent, to a three-month high at 81.5 cents.

Fairfax Media publishers The Age, The Sydney Morning Herald and The Australian Financial Review and owns a string of radio stations.

Ms Rinehart made her $192 million play at 81.77 cents a share - a 10.5 per cent premium to Tuesday's close - which has increased her stake from 4.9 per cent to just under the 15 per cent ownership limit under current government law.

While neither Ms Rinehart nor Fairfax would comment today, the move has been met by mixed responses elsewhere.

This includes concerns that Ms Rinehart wanted a board seat and influence over editorial content.

Media analyst Peter Cox said there was no way Ms Rinehart was buying into Fairfax as a major shareholder just for a financial investment.

"This has to be driven by her view on politics in Australia," Mr Cox said.

"What's the point of spending that money on it if you're not going to have influence?

"So, I think it's possible she'd want to go on, buy more shares, get greater control and end up as the effective controller of Fairfax."

Ms Rinehart's late father, Lang Hancock, was an investor in Western Australian newspapers The Sunday Independent and the National Miner.

Ms Rinehart, who chairs her privately owned mining company Hancock Prospecting, has been a vocal critic of the Gillard government's mineral resources rent tax (MRRT) and Labor's plan to put a price on carbon pollution.

EL&C Baillieu Stockbroking media analyst Ivor Ries said Ms Rinehart's move on Fairfax was high risk, given he doubted she could influence the board and he doubted that the company would ever return to its profitable heyday.

"She could just be being opportunistic ... she's enjoying the up cycle of mining, media is in a down cycle and she's buying it at the bottom to flip them out in 18 months to two years' time when the media cycle turns better," he said.

Ms Rinehart's personal wealth is believed to have recently doubled to about $20 billion through the sale of a 15 per cent stake in the Roy Hill iron ore project in Western Australia to South Korean corporate giant Posco.

That would mean her investment in Fairfax represents less than one per cent of her fortune, with Fairfax's complete market value only $1.7 billion.

Avatar's James Cameron plans New Zealand move...

James Cameron has snapped up more farmland near New Zealand's capital Wellington, not far from his Oscar-winning colleague Peter Jackson.

Cameron, the director of Titanic and Avatar, two of the highest-grossing films in history, has bought more than 1,000 hectares in the Wairarapa region, around 80 kilometres north-east of Wellington, land information records show.

The area is renowned for its rolling coastal farmland used for beef, sheep and dairy farming, along with vineyards.

News media reports say he paid around $NZ20 million for the two separate properties.

The records show Cameron and his family, who currently live in Malibu, California, plan to "reside indefinitely" in New Zealand, and operate both properties as working farms.

Jackson, possibly New Zealand's most famous export after he directed the Lord Of The Rings trilogy, owns a large estate about 20 kilometres away.

It boasts a 20-metre high castle built on an island in a lake, along with sets from his Oscar-winning films.

Jackson's next film, The Hobbit, the prequel to the Lord Of The Rings trilogy, is due out later this year.

Cameron's property purchases have firmed expectations he will make large parts of two sequels to his 3D science-fiction epic Avatar in New Zealand.

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