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News.com.au
2 hours ago
- News.com.au
New Entain Australia boss Andrew Vouris hits ground running in new role at the helm of wagering giant
Newly-appointed Entain Australia boss Andrew Vouris is waiting for no one in his plans to make his mark on the Australasian arm of the global betting behemoth. Vouris – who succeeds Dean Shannon at the helm of wagering brands Ladbrokes and Neds after the highly respected executive stepped down recently declaring 'the time right for change' – assumes the top job with a wealth of wagering experience behind him. Renowned for his no-nonsense approach and a love for innovation which has earned him the respect of racing's most senior figures, Vouris' 17-year wagering tenure has been as diverse as it has been rewarding. And it's that firm grasp of a complex and always evolving wagering ecosystem that pinpointed Vouris as the man to lead the organisation into a new frontier, having undergone a total management overhaul in the past year. 'I've been really forthright in my communication to the team – I want us to win, yes, but not at all costs,' Vouris said. 'We've got a hardworking and passionate workforce both here in Australia and New Zealand but there's always room for improvement and we're steadfast in our commitment to do that. 'With challenges comes opportunity.' The pointed comments in part speak to Entain Australia's ongoing Federal Court battle with AUSTRAC over historic allegations of noncompliance with anti-money laundering laws. In 2017, when working for Tabcorp, Vouris had responsibilities in helping navigate that company's own AUSTRAC proceedings, before coming out the other side. Vouris acknowledged that the matter continued to place a heavy burden on the organisation but he was now very much in the mindset of looking forward rather than back. 'I obviously can't speak on the matter specifically other than to say as an organisation we have changed significantly and continue to do so,' Vouris said. 'My prime focus is putting all our energy into connecting with our customers and stakeholders as best we can. 'At the core, punters want great products and competitive prices and that's our focus. 'Our integration of the New Zealand TAB in the past year or two has absorbed a lot of our resources but with that now complete, we can get back to innovation and growth which is a passion of mine.' The seismic change hasn't just been confined to a management revamp, with Entain Australia undergoing something of a realignment across other facets of the business. That included the cessation of a number of initiatives including the winding up of Ladbrokes Racing Club in Australia. 'At the end of the day we are a bookmaker – that's our business, bookmaking,' Vouris said. 'When you over-complicate things and overextend yourself you can lose your way.' With a successful background in start-ups (Unikrn and Luxbet) and a decade at Tabcorp, Vouris is as qualified as anyone to speak to the exponential threat facing racing. 'The tax regime is a huge concern for the long-term sustainability of racing – that's been well documented,' Vouris said. But Vouris said the challenges ddi not end there. 'Offshore and emerging cryptocurrency casino operators are a major threat too,' he said. 'They are growing at exponential rates, and the foreign licensing isn't returning anything on the domestic front. 'Some of the financial projections of what's being spent in these offshore casino markets is frightening and should be alarming to Australian racing. 'Action really needs to come now.' Quizzed on whether these challenges could ultimately impair Entain Australia's ability to remain aggressive in the racing sponsorship space, Vouris refused to rule it out. 'While others have been retreating in his space we've tried to remain as aggressive as possible,' he said. In recent months, rumours have intensified about the prospect of major corporate bookmakers like Ladbrokes and Sportsbet playing a role in bringing a national tote to life. It's been mooted that Tabcorp's hopes of merging the three tote pools includes plans for middle and best tote money from the top corporates also being channelled into the pool in a bid to generate even higher liquidity. But Vouris isn't sold. 'Show me a punter that would rather take a national tote price against the best price of the current three totes,' he said. 'I'm not convinced a national tote will be the huge win for racing it's being sold as. 'I think there's a lot that hasn't been considered on that front.'
News.com.au
2 hours ago
- News.com.au
How ‘boring' homes are winning Melbourne auctions
Melbourne's auction market is showing no signs of slowing down this winter, with buyers pressing ahead despite a pause in interest rate cuts and a seasonal dip in listings. The city recorded a solid 69.3 per cent clearance rate from 322 reported auctions, with 223 homes selling under the hammer, according to PropTrack. Several standout results helped drive momentum, including a $3.75m sale at 8-10 Maltravers Rd, Eaglemont, and $2.22m deal at 47 Belford Rd, Kew East. A character home at 44 Victoria Grove, Brunswick fetched $1.99m, while 3/8 Stewart St, Pascoe Vale sold for $850,000 following a short and competitive campaign. Ray White Victoria chief auctioneer Jeremy Tyrrell said school holidays and the Reserve Bank's interest rate hold didn't dampen demand. 'Competition continued to dominate across the state,' Mr Tyrrell said. 'We saw midweek auctions really firing too — our Ballarat team sold nine of 10 properties on Tuesday night alone.' Buxton Mount Waverley director Peter Serafino said buyers were showing a renewed appreciation for quality construction. 'Older homes are proving their worth,' Mr Serafino said. 'Buyers are realising they often offer better land, better locations and far better build quality than many new estates,' Mr Serafino said. Across Melbourne's suburbs, agents reported high energy among first-home and second-home buyers looking for move-in ready properties with long-term potential. Apollo Auctions Victoria director Andy Reid said straightforward family homes — not flashy architect-designed builds — were performing strongest in today's market. 'It's the 'boring' stuff that's going well — and I mean that in the best way,' Mr Reid said. 'Three-bed, two-bath, single-storey homes in suburbia — they're easy to understand and easy to buy. 'Meanwhile, high-spec two-storey homes and some developer stock are struggling.' Mr Reid said timing of the auction day mattered less than expected. 'One of my best results came from a 9.30am auction last Saturday,' he said. 'We smashed the quoted range by $150,000. 'Later auctions that day struggled.' Looking ahead to FY26, Mr Reid predicted a steady market unless multiple rate cuts reignite urgency. 'The first cut didn't move much, the second one started to. But with rates now on hold, we risk losing that momentum,' he said. 'Unless the next cut lands soon, it might feel like we're starting from scratch.'
ABC News
2 hours ago
- ABC News
Environmental issues sidelined in Tasmanian state election
Less than a week out from the Tasmanian election, the Liberals and Labor have steered clear of announcements for stronger environmental protection, instead focusing on industries and "brands". The snap election comes after the State of the Environment report was tabled in parliament last September — the first such report in Tasmania for 15 years, despite it being required every five years. It showed that out of 29 environmental indicators, 16 were deteriorating, six were stable, two were improving and five lacked enough data to be fully known. This included a worsening situation for threatened flora and fauna, the increasing fragmentation of native vegetation, the spread of invasive weeds and animals, and a lack of reliable data for water quality. The report made 16 recommendations, the Liberal government accepted six in full. At last year's state election, the Liberals' environment promises — under the title "keeping our parks and environment strong" — listed a range of funding for visitor infrastructure in state and national parks. The only part that referenced environmental outcomes was for captive breeding programs for the endangered Maugean skate, and for the critically endangered swift parrot and the orange-bellied parrot, each of which face ongoing pressure from industry. On Friday, Premier Jeremy Rockliff said the environment was part of Tasmania's "brand". "It's about getting the balance right. "Half of Tasmania is in reserve. That sends a very clear message to the world of our environmental credentials." A significant proportion of that "reserve" land is the Tasmanian Wilderness World Heritage Area. Mr Rockliff also listed the state's new container deposit scheme as a positive environmental outcome. He earlier announced a plan to make it easier for large industrial companies to negotiate and complete trade waste improvements with TasWater. In December, excessive trade waste from the Cadbury factory in Hobart caused a sewage treatment plant to fail, resulting in mostly untreated sewage flowing into the River Derwent for several days, with beaches closed. Labor's only environment announcement this campaign involved streamlining environmental approval for industries, including renewable energy. Labor leader Dean Winter used the regional forest agreement (RFA) as an example — a process in which native forest logging is "exempted" from additional assessment under federal environmental laws. Mr Winter said the idea was to speed up environmental assessments for projects like the Robbins Island wind farm. In a review of federal environmental laws by Professor Graeme Samuel — released in 2021 — the RFA system was described as providing "weaker" environmental protection, and that oversight was "insufficient". This month, state-owned logging company Sustainable Timber Tasmania released its updated list of native forest coupes that can be logged, burnt and re-sown at short notice, covering 39,417 hectares. Of those, about 6,300 hectares includes breeding areas for the swift parrot. When asked about environmental policies this election, Mr Winter said he wanted to address water quality. "We've seen over the course of the last 11 years, for example, the number of sewage spills into our waterways continuing," Mr Winter said. A report into Tasmania's water and sewerage industry, released last month, showed there were 64 sewer breaks and chokes per 100 kilometres of sewer — three times worse than similar-sized water authorities interstate. Just under a quarter of the state's potable water remains unaccounted for — or goes missing — each year. TasWater continued to miss service standard targets, with the water authority blaming "decades of underinvestment". Tasmania's Environment Protection Authority (EPA) was separated from the environment department in 2022, in an effort to make it more "independent" from government. But the Tasmanian Greens say this intent has not been achieved, because the EPA still has a "statement of expectation" from the environment minister. This includes that the EPA will "support sustainable development in Tasmania", which the Act defines as "the use, development and protection of natural and physical resources". The term, to "protect the environment of Tasmania", was removed from the Act in 2008 and has not returned. Greens leader Rosalie Woodruff said both major parties were sidelining environmental protection. "The Liberal and Labor party both are prepared to log and burn native forests in a climate emergency, and we know they are both backing big salmon corporations." An Invasive Species Council forum this month heard how Tasmania's environmental issues were continuing to have impacts on people's health, on volunteer groups and on farmers. Finn Pasanen is blind in his left eye due to toxoplasmosis, contracted by his mother while he was in utero, likely caused by stray and feral cats that frequented their backyard. Mr Pasanen said it had greatly affected his hand-eye coordination and depth perception, and he suffered motion sickness and headaches. "The best thing to do to reduce toxoplasmosis is getting your cats to not roam freely, [it's] much less likely to develop it themselves and become a vector," he said. TasFarmers chief executive officer Nathan Calman said toxoplasmosis was also causing problems for lamb and wool producers. The State of the Environment report found that invasive animals were continuing to increase as an issue in Tasmania, particularly cats and fallow deer. Landcare Tasmania chief executive officer Peter Stronach told the forum that volunteer groups were under increasing pressure due to the ongoing spread of invasive weeds. He said they remained heavily reliant on fundraising but government support was sporadic. "We don't get the funding that we need, and when the funding does come it's quite haphazard, to say the least," he said.
