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The cryptocurrency gaming start-up is backed by some of the country’s best-known venture capital funds and says it has significantly reduced its cash burn. The company had already been heavily sold off over the year, with Trump administration trade policies increasing the cost of its products and hurting sales. Airtree and Quadrant led a big capital injection into the Sydney robotics start-up, catapulting its founders up the Young Rich List. The creation of software has driven 47 of the fortunes, including seven new additions in cryptocurrency. The Young Rich List, now in its 20th year, shows shop owners are thriving in another patchy year for tech founders, and there’s a new young billionaire in town.
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Star Entertainment to cut costs after $110m first-half loss
Polymarket has become a sprawling clearinghouse for geopolitical speculation, on which the line between informed conviction and inside knowledge is blurred. The casino giant had been working on overhauling its borrowing facilities, and will replace a syndicate of lenders that includes Soul Patts and Macquarie. The embattled gaming group has finalised a deal to sell its stake in Queen’s Wharf to Chow Tai Fook and Far East Consortium and manage it for a small fee. The Albanese government’s planned new restrictions mean people could opt out of gambling ads on their favourite podcasts or platforms like YouTube and Spotify.
The founder of the sportswear chain rose from 77th place to 29th and was the biggest mover of the year, with an estimated personal wealth of $221 million. The wealthiest people under 40 are now worth a combined $31.7 billion, led by Canva duo Melanie Perkins and Cliff Obrecht, who topped the list for the sixth year. Simon Beard, the founder of streetwear empire Culture Kings, wants to live as long as possible to enjoy his success. The total valuation of Australia’s 100 richest people aged 40 and under is diminished in 2022, but you still need $35 million to get on the list. Major betting agencies TAB, Betr and bet365 have SA Premier Peter Malinauskas at odds of $1.01 to win on March 21, unprecedented ahead of an election.
This may be one of those era-defining occupations – like being a Wall Street trader in the 1980s, a dotcom founder in the 1990s or an influencer in the 2010s. The 44-year-old founder of Virtual Gaming Worlds fronted Perth Magistrates Court on Thursday on nine new charges. The results are the first for the embattled casino operator since Bally’s and the Mathieson family took over as majority owners.
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Betters win $1.4m on US strikes wager placed just before bombs hit
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