Business News Australia Pty Ltd

NRMA Parks & Resorts has snapped up a bustling holiday park in coastal New South Wales, acquiring the Blue Dolphin Holiday Resort from the Mitchell family in a deal reportedly worth $40 million. Based in Yamba, the resort is spread across 5.82 hectares of land and includes 300 metres of Clarence River frontage. The site has a wide range of ... https://lnkd.in/gAvGicd6

The Queensland Government has for the second time deferred a suspension of The Star Entertainment Group's (ASX: SGR) Brisbane and Gold Coast casino licences, pending an evaluation of progress around the group's comprehensive 640-point remediation plan to address past governance failings. The deadline for a decision was previou... https://lnkd.in/gW29YiCp

Adelaide's SkyCity casino has reached an agreement with the nation's financial crime watchdog to pay a penalty of $67 million over its contraventions of laws around anti-money laundering and counter-terrorism financing (AML/CTF), with its executive chair admitting the group "failed to live up to the standards required". Th... https://lnkd.in/gpeVVpi9

A Sydney-based environmental service company that recycles overlooked rubbish has secured $1.15 million via equity crowdfunding platform Birchal, giving it the firepower to accelerate nationwide expansion plans within a year of a previous $1 million raise.  Founded in 2019 by Giorgio Baracchi and Marco Prayer, RecycleSmart collects items t... https://lnkd.in/gXaDang5

After the dumping waves of the pandemic nearly knocked out iconic Australian surf magazine Tracks with its travel industry-dependent advertising revenue that suddenly disappeared, the business was picked up by some mates from Bondi and management to turn the publication's fortunes around. Fast forward three years later, amidst an epic ... https://lnkd.in/gctyrFPS

Australian development giant Lendlease (ASX: LLC) has announced today it has entered into a 50/50 joint venture with US private equity firm Warburg Pincus to establish a new life sciences real estate platform focused on the Asia-Pacific region. The deal, valued at $147 million, will see Lendlease transfer its current life sciences construction a... https://lnkd.in/g_9ZkJjv

The takeover plans of Singapore’s Louis Dreyfus Company (LDC) for Australia’s largest cotton processor Namoi Cotton (ASX: NAM) have been dealt a blow after the competition regulator raised concerns about a potential acquisition. The Australian Competition and Consumer Commission (ACCC) has outlined preliminary concerns about LDC&rsq... https://lnkd.in/er_h3tec

Cover Genius, a US-based insurtech founded by former Australian travel industry entrepreneurs Angus McDonald and Chris Bayley, has raised $US80 million ($119.2 million) in a Series E round amid a year of triple-digit revenue growth for the embedded insurance provider. The latest round, led by led by new investor Spark Capital and supported by e... https://lnkd.in/e3kdZu4M

Getahead founder and CEO 🚀 Sam McNamara of a job swiping app that has gone viral on social media says persistence was key to securing recent investments from Tinder co-founder Jonathan Badeen and the global dating app's founding team member and former head of marketing and communications, Rosette Pambakian. Badeen and Pambakian have joined the Getahead advisory board after investing an undisclosed sum in the business as it gears up for a fresh funding round, adding to $1.2 million in capital raised previously with cornerstone investors including Michael Dempsey of Pipeline Capital and Queensland coffee icon Phillip Di Bella. https://lnkd.in/e6UyMa_N

Pizza Hut Australia’s operator Pizza Pan Group has been fined $2.5 million for sending more than 10 million marketing texts and emails over a four-month period last year to customers who had either not consented to receive them or had unsubscribed. The fine for breaching Australian spam laws follows an investigation by the Australian Comm... https://lnkd.in/euGx4Np7