gambling gossip from the Media Man - 8th August 2009
What a week its been. Australian self
confessed pathological gambler, Harry Kakavas "unlucky"
streak continues. If anyone could vouch its a casino
economy, it would be him. Thus far unsuccessful in
his bit to sue Melbourne's Crown Casino. Kakavas company
based on the Gold Coast has been giving the corporate
doctor. Challenger Managed Investments have appointed
John Park and Mark Korda of KordaMentha as receiver
managers. Incidental, Part is also looking after the
matters for former gaming and IT whiz kid cum tsar,
Daniel Tzvetkoff. Yes folks, the higher they climb,
the further they fall, especially in the casino circles
if these latest turn of events are anything to judge
by. In the meantime north of Australia's Gold Coast,
up Las Vegas and Atlantic City way Donald Trump is
looking to rescue, and no doubt, resurrect, his Trump
Casino empire. Trump's peers such as Steve Wynn are
said to not want a bar of igaming involvement (bit
of a threat to the bricks and mortar Stevo?), while
Harrah's Entertainment boss (formally PartyGaming
chief), Mitch Garber, is very confident and excited
about rolling out at least some of what he knows works
for his Harrah's hotel-casino-resort chain. We here
at Media Man
like this Mitch fella. Sound like he might be open
to some b2b and World Casino Directory and multi currency
casino listing proposals. Rumours are circulating
that some of the Vegas top brass has been observing
one Aussie companies b2b dealings with James Packer's
long time UK connection - Aspers, including Aspers
online ventures. Aspers Damian Aspinall, is finding
it impossible to live down his series of high profile
dates with Australia's "Body" Elle MacPherson.
Speaking of rumoured power couples, or at least, "power
pairings" (not to implicate the potentially innocent..
doubt it), Bodog
founder Calvin Ayre has been spotted with igaming
pr and communications queen, Rebecca Liggero. Ms Liggero
is said to have some positive and spicy history with
Ayre, and last week our miss was officially placed
in a role to help along the Bodog empire rebuild,
or global expansion, depending of the sources you
care to believe. PartyGaming remains in the party
hard - happy days mode at the moment with their CEO
Jim Ryan reporting that their PartyCasino.com
brands are performing well, and that their recent
purchase of Cashcade (including the famed Foxy
Bingo) are on track. Party keep teasing rising
poker and casino babe, Paris Hilton with public press
releases, however our precious Paris is yet to sign
the bottom line. Maybe she's waiting on Sexy Poker
(banned in Australia) to call. Not to be outdone,
Nicki Hilton has been hanging out considerably with
our main man, WSOP legend, Doyle Brunson. Hilton's
said to have injected some new life into "the
father of poker". The Bondi Beach igaming crew
are wondering when Holly Branson, daughter of business
tycoon, Sir Richard Branson, will one again grace
their shows. Sir Richard who also heads up Virgin
Games might take a liking to Berg's Gaming on location
at the Bondi Icebergs, said to be previous visited
by the power pairing, and Paris Hilton of course!
Whatever the case, its sure been a hot and eventful
few weeks in the casino sector, from court cases,
to buyouts, casino babes, not to mention the new poker
bill happenings in Washington. CAP, PAP and PPA took
no time to publish their spin on things and subsequent
press releases, and these developments are strongly
rumoured to be on the radar of Australia's Parliament
House, including the office of gaming and racing (who
have plenty of their own in house problems to contend
with). Stay tuned to Gambling911.com
for the latest and hottest news from the gambling
world, as we scour the universe for the news you need
man in more strife, by Shannon Willoughby - The
Gold Coast Bulletin - 8th August 2009
man who is suing Melbourne's Crown Casino for
$30 million is facing his own financial setback
on the Gold Coast.
directed by self-confessed pathological gambler
Harry Kakavas has moved into the hands of the
corporate doctor after it failed to meet its financial
Property Investments Group Pty Ltd, which owns
and runs a commercial property in Broadbeach,
is understood to owe its mortgagee millions.
appointment comes as Mr Kakavas awaits a judge's
decision over a legal stoush involving him and
Melbourne's Crown Casino.
Kakavas is suing Crown for $30 million plus damages
over claims it lured him to the tables, despite
knowing he was a banned gambler.
Property Investment's mortgagee, Challenger Managed
Investments, appointed John Park and Mark Korda
of KordaMentha as receiver managers.
Park said the debt remained confidential but The
Bulletin understands it is in the millions.
Kakavas's company paid $9.35 million for the mid-rise
on Queensland Avenue in 2005.
Park, who is also the liquidator for a company
controlled by embattled IT tycoon Daniel Tzvetkoff,
said there was a possibility they could sell the
are assessing the tenancy mix at the moment and
looking at the best strategy for realisation of
the property," he said. "We are assessing
the quality of the product (before we decide if
its going to go to the market)."
former king of Hedges Avenue -- a name Mr Kakavas
was crowned after his prolific buying and selling
along 'millionaires row' -- declined to comment.
judgment over his court case is expected to be
handed down within months, with final submissions
being heard on August 17.
Kakavas alleges the casino giant seduced him on
to the tables knowing he was a self-confessed
problem gambler. He is alleging negligence, unconscionable
conduct and breaches of the Casino Control Act
by Crown Casino.
claims he banned himself from the casino but said
he was lured back with VIP treatment.
former property developer claims to have turned
over more than $1.4 billion during a 14-month
gambling binge across Australia from June 2005.
is also suing the casino's chief operating officer
John Williams. Mr Kakavas claims Mr Williams lured
him back with VIP treatment.
Kakavas also alleges he was flown about 30 times
on Crown's VIP jet in 2007, was regularly handed
bags and boxes of cash and given a promise of
a 20 per cent rebate on all losses.
Casino boss Rowen Craigie, who also owns property
in Hedges Avenue, is also being sued.
Craigie had his Hedges Avenue mansion on the market
but it has since been withdrawn. (Credit: