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Australia's biggest gambler Mr Kerry Packer has made his long awaited move into the potentially lucrative world of Internet casinos, securing one of the five online gaming licences being awarded by the Tasmanian Government.
Mr Packer's two listed companies, Publishing and Broadcasting Ltd and Internet offshoot ecorp, will share ownership of the online gaming business, which is not expected to be launched for several months.
It is expected the business will use the name of Mr Packer's Melbourne casino, Crown, possibly Crown.com, and will be pitched mostly to Asian gamblers.
In an announcement to the sharemarket late last night, PBL management revealed the gaming business would not be offered to Australian residents despite being awarded the licence before last week's Federal Government's "moratorium" on new online gaming licences.
Victoria's Tabcorp also revealed it had received one of the five Tasmanian online gaming licences issued late last week.
Tabcorp's online casino would use the company's gaming businesses, chief executive Mr Ross Wilson said, which include Sydney's Star City casino.
Last Friday the Federal Government said it would introduce retrospective legislation to impose a 12 month moratorium on the granting of any more Internet gaming licences.
It did so after the ACT Government said it would grant another two online licences to the ACT TAB and Tattersalls.
State and territory governments have been able to grant Internet gaming licences for some time and 10 companies, including listed betting outfit eBet, Federal Hotels and Golden Casket are believed to already have submitted applications.
So far, Queensland, the Northern Territory, Tasmania, ACT and Norfolk Island have moved to grant licences to operators wanting to run online casinos. Victoria is expected to follow shortly. NSW has adopted a more cautious attitude to online gambling.
Because Australians will be banned from gambling on Crown.com, it is expected the joint venture will focus mainly on the lucrative Asian market.
"Gambling is huge in Asia and that's where the growth is going to come from," said an analyst last night.
"And Australia is just such a small part of the international [gaming] market."
Shifting the focus away from Australia, however, means missing out on the $91 billion generated by the gaming industry here last year.
But executive chairman of listed sports and telephone betting agency International All Sports, Mr Mark Read, agreed the Asian market was shaping up to be the biggest in the world.
"You've got 19 million millionaires that gamble in Indonesia alone," Mr Read said. "While there are some social and religious constraints on gambling in that region, there are the super-rich which are the driving force behind casinos around the world, including Crown."
Mr Packer's two listed companies, Publishing and Broadcasting Ltd and Internet offshoot ecorp, will share ownership of the online gaming business, which is not expected to be launched for several months.
It is expected the business will use the name of Mr Packer's Melbourne casino, Crown, possibly Crown.com, and will be pitched mostly to Asian gamblers.
In an announcement to the sharemarket late last night, PBL management revealed the gaming business would not be offered to Australian residents despite being awarded the licence before last week's Federal Government's "moratorium" on new online gaming licences.
Victoria's Tabcorp also revealed it had received one of the five Tasmanian online gaming licences issued late last week.
Tabcorp's online casino would use the company's gaming businesses, chief executive Mr Ross Wilson said, which include Sydney's Star City casino.
Last Friday the Federal Government said it would introduce retrospective legislation to impose a 12 month moratorium on the granting of any more Internet gaming licences.
It did so after the ACT Government said it would grant another two online licences to the ACT TAB and Tattersalls.
State and territory governments have been able to grant Internet gaming licences for some time and 10 companies, including listed betting outfit eBet, Federal Hotels and Golden Casket are believed to already have submitted applications.
So far, Queensland, the Northern Territory, Tasmania, ACT and Norfolk Island have moved to grant licences to operators wanting to run online casinos. Victoria is expected to follow shortly. NSW has adopted a more cautious attitude to online gambling.
Because Australians will be banned from gambling on Crown.com, it is expected the joint venture will focus mainly on the lucrative Asian market.
"Gambling is huge in Asia and that's where the growth is going to come from," said an analyst last night.
"And Australia is just such a small part of the international [gaming] market."
Shifting the focus away from Australia, however, means missing out on the $91 billion generated by the gaming industry here last year.
But executive chairman of listed sports and telephone betting agency International All Sports, Mr Mark Read, agreed the Asian market was shaping up to be the biggest in the world.
"You've got 19 million millionaires that gamble in Indonesia alone," Mr Read said. "While there are some social and religious constraints on gambling in that region, there are the super-rich which are the driving force behind casinos around the world, including Crown."
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