June 1, 2024, brings a mixture of significant events in the Australian business landscape, spanning from a considerable data breach at a major ticketing firm to a record-breaking property sale and controversies involving prominent consultancies. Here’s a roundup of the top news stories.
Ticketek's Cyber Incident
Data Breach Details
Ticketek has announced a “cyber incident” that may have compromised its customers' personal information, including names, dates of birth, and email addresses. This breach occurred through a third-party global supplier, affecting data stored on a cloud platform.
Government Response
The National Office of Cyber Security has been notified, and Cyber Security Minister Clare O’Neil confirmed the limited scope of the breach via platform X. Importantly, Ticketek assures that passwords and credit card information were not affected.
Ongoing Investigations
The National Cyber Security Coordinator mentioned that both the Australian Signals Directorate and the Australian Federal Police are investigating the incident. Additionally, the Department of Home Affairs is in discussions with Ticketmaster concerning a separate cybersecurity matter. Ticketek is actively working to resolve the issue.
Stake.com Founders Invest in Pointsbet
New Stake in ASX-listed Pointsbet
Australian billionaires Ed Craven and Bijan Tehrani, co-founders of Stake.com, have acquired over 5% of Pointsbet, an ASX-listed company. This venture is facilitated through their company Easygo Gaming, marking their entry into traditional wagering and entertainment markets.
Confidence in Pointsbet's Strategy
Easygo Gaming's spokesman expressed confidence in Pointsbet’s strategy and performance, emphasising the company’s focus on gaming, media, and technology expansion. Craven and Tehrani have yet to apply for a wagering licence despite their interest in Australia's legal gambling market.
Pointsbet's Market Position and Competitor Challenges
Pointsbet, after selling its US business to Fanatics for $US225 million ($343.2 million), aims to enhance its Australian presence. CEO Sam Swanell noted significant improvements in financial forecasts for 2024. Meanwhile, competitors Bet365 and Entain are under AUSTRAC investigation, and betr is merging with BlueBet. These developments are set against the backdrop of incoming regulations, including a ban on credit card betting.
Perth Airport Refueling Problem
Travel Disruptions
A refueling issue at Perth Airport has disrupted weekend travel, grounding nine international and five domestic flights on Saturday morning. No further check-ins or bag drops are being allowed at the moment.
Cause and Impact
The problem was identified as a load pressure issue in the fuel lines, resulting in significant operational impacts and delays since Friday night. Airlines have been advised to ensure flights can return without refueling at Perth.
Response and Resolution Efforts
Local experts are addressing the issue while Perth Airport urges passengers to contact their airlines for updates.
Record-Breaking Penthouse for Sale
Culture Kings Founders' Gold Coast Penthouse
Simon and Tah-nee Beard, founders of the streetwear brand Culture Kings, have listed their luxurious Gold Coast penthouse for $30 million, potentially setting a new Queensland apartment record.
Property Highlights
The penthouse in the Soul building, Surfers Paradise, spans 1000 square meters over four levels, featuring five bedrooms, seven bathrooms, multiple living areas, a gym, a swimming pool, and a unique sneaker collection bookshelf.
Market Milestone
If sold at the asking price, it would surpass the current $24 million record. The Beards have decided to sell after renovating a nearby home. Their wealth remains significant, with their presence on the Young Rich List.
CT Group's Controversial Consultancy in Hong Kong
Alleged Assistance to Pro-Beijing Officials
CT Group, formerly Crosby Textor, faces scrutiny for advising pro-Beijing officials in Hong Kong before a key election. Their work allegedly supported the introduction of national security laws curtailing free speech and suppressing opposition.
Project Ocean and Public Opinion Management
The consultancy’s polling and focus groups were commissioned by Our Hong Kong Foundation and funded by Chow Tai Fook. The research aimed to boost pro-Beijing voter turnout amidst fears of a resounding defeat in the 2019 elections.
Government and Expert Reactions
Australian Foreign Minister Penny Wong and former national security adviser Justin Bassi condemned any involvement with Hong Kong authorities post-crackdown. CT Group denies unethical conduct, maintaining that their research adhered to standard procedures.
