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The Independent Liquor and Gaming Authority (ILGA) in New South Wales is seeking to transfer administration of the ClubGRANTS scheme to the State Revenue chief commissioner, citing operational pressures and ongoing scrutiny.
This was revealed through documents obtained by ABC and statements from ILGA chair Caroline Lamb on Monday.
Introduced in 1998, ClubGRANTS was designed to channel a share of gambling-linked profits from gaming clubs back into local communities. This includes health and welfare services as well as community development and sporting clubs.
What is The Luxe?
We’re nearly halfway through this Covid-19 shortened 2021 NHL season, and the playoff picture is starting to shape up. We’ve got odds for a potential Stanley Cup Matchup thanks to Bodog, and due to the wild shortened season we’re witnessing, they’re a little bit everywhere.
With just over a month since the season started, the condensed but pandemic riddled season has seen some teams play as many as 20 of their scheduled 56 matches, whereas others have had games postponed and played as little as 13. That’s still enough for the pundits to have favorites, and for sportsbooks to have started creating these lines.
At the top of the odds, we have a matchup between the Tampa Bay Lightning and either the Colorado Avalanche or Las Vegas Golden Knights. Tampa looks like a favorite thanks to their Goal Differential of +20, although they aren’t even top of the Discover Central division at this point, trailing both the Florida Panthers and Carolina Hurricanes.
About The Luxe
I concede, CEOs know much more about business than I do. That’s why they are business leaders and I am not, nor will I ever be. So who the hell am I then? I will say confidently, I absolutely know my place in this world. It is as clear to me as the sun. I may not understand much about doing business, but I know what money is, and I know what money is not. I know what happens to unbacked paper currency when governments shut down the world and blast currency from monetary firehoses all over the world until we are all drowning in it. It dies.
Are you listening, Oh you gaming industry execs? If you’re a CEO reading this, or a CFO, and you’re struggling with shut down casinos and mounting debt, I’m talking to you. You have only a few months at most to protect your companies from a hyperinflationary nuclear bomb that is about to go off and destroy everything in its path. The fuse is being lit as I write this. I will now describe the fuse.
About 18 months ago I wrote this weird, esoteric, wacky article. I made the case that once U.S. dollar interest rates went negative, all commodities would warp into backwardation. Meaning, the spot prices for all commodities would become more expensive than their futures price. This is now happening. Almost all commodities are now in persistent backwardation. All grains, sugar, lumber, and cotton; energy including natural gas and both Brent and WTI crude oil; base metals including copper, tin, and iron ore. They are all in backwardation now, and some have been that way for months now. The CRB commodities index is now climbing at its fastest pace ever, doubling since March.
