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Federal Hotels monopolised one-armed bandits in Tasmania – Made a fortune

April 5, 2017 Posted in News by No Comments

As you say it is always someone in the top who makes the big bucks. And this is nothing different. Would be interesting to see the relationship between the family and the politicians though. Not likely by the book there.

Worth mentioning is the difference in payout between pokie machines and the pokies find at online casinos. The machines you find on restaurants are common to pay out between 75-85% in winnings. To be compared with the online pokies giving 95-98%.

 

abc.net.au

Pokies, politics and profits: How Federal Hotels monopolised Tasmania’s one-armed bandits – ABC News (Australian Broadcasting Corporation)

The process was marked by secret negotiations, overblown claims of public benefit from economic development, and an ultimately broken pledge that the casino would not contain pokies.

Today, Wrest Point is little more than a hotel attached to a run-down “pokies barn”.

It makes 86 per cent of its gambling revenue from high-intensity pokies.

To observers today, this story will sound familiar.

Most startling, Boyce describes — in a chapter titled “Was the deputy premier bribed?” — the little-known allegations of corruption that surrounded the licensing of a second casino in Launceston.

These allegations surrounded the deputy premier, Kevin Lyons, who held the balance of power in a Liberal minority government, abruptly and unexpectedly quitting the Coalition in 1972. read more at abc.net.au

 

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