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The Northern Territory government has lowered the number [url=https://caravela.coffee/pages/ontario_casinos___online_casino___online_casino_reviews___online_casino.html ]online casino [/url] of poker machines allowed across the region as it continues to acknowledge the significant harm caused by problem gambling.

The cap on gaming machines in community venues has been reduced from 1699 to 1659, excluding machines at the NT's two casinos which are covered by separate agreements.

Gaming Minister Chansey Paech said since reintroducing the cap when Labor came to power in 2016, the government had lowered it three times, cutting about 200 machines from the pool.

"Our government is aware that problem gambling creates a significant public health risk to communities across the NT, and that's why we are doing what we can to reduce availability of gaming machines," the minister said.

"We continue to promote responsible gambling and provide ongoing funding for research as well as community-based support services."

Tuesday's changes also end a nine-month moratorium on new gaming machines in Alice Springs that was sparked by community concern over plans for 60 more at hotels and taverns in the town.

Applications for 40 of those machines in two venues have since been withdrawn.

Existing applications lodged last year for 20 machines at the Todd Tavern and Gap View Hotel remain in train, however no new applications from community venues across the Territory will be accepted once the cap is reached.

In regard to the Mindil Beach Casino in Darwin and the Lasseters Hotel Casino in Alice Springs, the government said they would need to adhere to a new code of practice that prioritised harm minimisation.



By Chiara Elisei

LONDON, June 5(Reuters) - A European derivatives committee said on Monday that a bankruptcy credit event has not occurred in relation to France's debt-laden Casino, dashing investor hopes for a payout on credit insurance linked to the retailer.

The EMEA Credit Derivatives Determination Committee (CDDC) met on Friday to discuss the question raised by an investor, it said on its website.

The heavily-indebted French retailer said last month it had entered court-backed talks with creditors after receiving their consent to open a court process known as conciliation without triggering a default under the terms of Casino issued bonds.

The CDDC said on Monday that in reaching its decision, it had considered previous cases including Casino's holding company, Rallye.

The committee said it had also considered features of French conciliation, noting that the process was designed to result in a full consensual agreement with creditors.
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But if a partial agreement is reached, this does not bind creditors who do not consent, meaning that other ways to get them on board would be sought, it noted.

Additionally, under French law, the opening of a conciliation procedure would override events of default in the debt instruments, the statement added.

However, the CDDC concluded that this alone was not sufficient to trigger a bankruptcy credit event.

A separate question was posed to the committee on Friday on whether a "failure to pay" credit event had occurred for Casino.

The committee has not decided yet whether to accept the question.

A number of circumstances can constitute a credit event, which can trigger a payout on credit default swaps which insure against losses from exposure to corporate or sovereign debt.

There were $428 million of net notional Casino CDS outstanding as of May 19, according to data from securities clearing and settlement firm DTCC.

Casino has been plagued for years by hefty debt following a string of acquisitions and by declining revenue and loss of market share in an increasingly competitive domestic market.

(Reporting by Chiara Elisei, editing by Dhara Ranasinghe and Emelia Sithole-Matarise)



Casino shares close down 9.4%

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Naouri questioned by police

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Casino has a large debt burden

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PARIS, June 1 (Reuters) - Jean-Charles Naouri, the boss of heavily indebted French supermarket group Casino, is being questioned by police as part of an ongoing investigation into alleged stock price manipulation, corruption and insider trading at the company, France's financial prosecutor's office said on Thursday.

Shares in Casino, already under pressure from the company's financial problems, closed 9.4% lower.

The national financial prosecutor said in March that it had opened a preliminary investigation in February 2020 into Casino over alleged price manipulation, corruption and insider trading charges in 2018 and 2019.

When contacted by Reuters on Thursday, Casino said it had no comment to make.
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Naouri is the 74-year-old chairman and CEO of the company, which owns the Franprix and Monoprix chains.

The prosecutor's office declined to comment on whether the probe targeted Naouri directly.

The probe was launched in 2020 after the prosecutor's office was alerted by France's AMF market watchdog, a source close to the matter said.

Last week, Casino said it was officially starting court-backed negotiations with creditors as the company seeks a way out of its financial woes while weighing two tie-up bids from wealthy investors.

Casino has been plagued for years by hefty debt following a string of acquisitions and by declining revenues and loss of market share in an increasingly competitive domestic market.

(Reporting by Benoit Van Overstraeten, Silvia Aloisi, Dominique Vidalon, Tassilo Hummel and Sudip Kar-Gupta Editing by Susan Fenton)

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