Mr McGraths account at William Hill has been held in the name of John Wilson said one insider who added that the real estate figures last bet was in mid December, 2017, when Mr McGrath deposited $500,000 into his account at William Hill. The half a million dollars was not used to reduce his debt…
Multiple sources familiar with William Hill Australia’s accounts have confirmed the company extends large lines of credit to Mr McGrath, who bets under a pseudonym and incurs average gambling losses of about $10 million a year. Mr McGrath has not settled his debt for some time, they said, leaving William Hill owed $16.2 million on its…
According to ASIC’s MoneySmart site, Australians collectively owe about $33 billion on credit cards and The Victorian Responsible Gambling Foundation figures suggest between 2015 – 2016 Australias electronic gaming machine expenditure reached $12.1 billion. A key indicator youre in over your head with pokies or credit cards is dishonesty. Addicts will go to great lengths…
Shares in embattled estate agent McGrath fell more than 8 per cent on Monday to a new intraday low of 43¢ after Fairfax Media reported founder John McGrath had accumulated a $16 million gambling debt with bookmakers William Hill. Mr McGrath has strenuously denied the story, calling it “ridiculous” but shares still fell sharply after opening…
Its Australian business, whose chief executive is high-profile bookmaker Mr Waterhouse, has been placed under a “strategic review” and is now up for sale. Industry sources confirmed multiple bookmakers had done due diligence on William Hill Australia in recent weeks, and said a deal could be sealed imminently. Unlike many of Australia’s other prominent online bookmakers, who…
By Stephen Gibbs for Daily Mail Australia Published: 17:09 AEDT, 22 February 2018 | Updated: 21:42 AEDT, 22 February 2018 e-mail 24 View comments Sydney’s Star casino lost or destroyed two cheques totaling $7million it was given as security by a high-rolling Chinese gambler. The casino admitted in the New South Wales Supreme Court the…
John McGrath has revealed Sydney lawyer Andrew Robinson wil be one of the two two new directors who will join the board of his struggling listed real estate business McGrath (ASX: MEA) tasked with the job of turning the company around. The other appointee is Peter Lewis, Kerry Stokes’s former chief financial officer, who…
JOHN McGrath has denied his gambling debts are out of control or in any way linked to his stake in his embattled real estate business. Shares in McGrath Ltd were placed in a trading halt on Thursday as the company sought further information from its founder related to recent media reports about Mr McGrath, who…
Controversy surrounding McGrath Real Estate (ASX: MEA) founder John McGrath’s alleged $16 million gambling debt has been addressed by McGrath himself in a letter to the ASX. The statement, released to the ASX by McGrath Real Estate, sees McGrath denying the claim that he has been using company money to fund his expensive…
John McGrath has denied his gambling debts are out of control or in any way linked to his stake in his embattled real estate business. Shares in McGrath Ltd were placed in a trading halt on Thursday as the company sought further information from its founder related to recent media reports about Mr McGrath, who…
