entertainment News | The Market Online The Market Online – First with the news that moves markets. Breaking Australian stock market news, ASX 200 announcements and the latest ASX news today. Thu, 03 Apr 2025 22:45:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 ‘Value for money’: Swift inks 2 renewals contracts in mining sector for $1.3 million https://themarketonline.com.au/value-for-money-swift-inks-2-renewals-contracts-in-mining-sector-for-1-3-million-2025-04-04/ Thu, 03 Apr 2025 22:45:12 +0000 https://themarketonline.com.au/?p=748333 Swift Networks Group (ASX:SW1) has announced contract renewals totalling $1.3 million from two longstanding clients in the mining industry for network infrastructure and entertainment.

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The clients, Roy Hill and Pilbara Minerals (ASX:PLS), have signed up for 12 months; the former was already the first mine with entertainment and engagement solution Swift Access.

This product includes a low bandwidth entertainment feature, which enables early-release access for sought-after movies and other communication tools.

Roy Hill has previously implemented Swift Access at its personnel village in 2022 and will now become the first client to roll out the next generation (Swift Access 2025), with the rollout to begin later in April.

Pilbara’s renewal will mean another 12-month subscription to Swift’s products.

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Swift CEO Brian Mangano said the renewals were a testament to the quality of the services on offer in the communication package. “We are very pleased to continue to work with Roy Hill to create and develop the best entertainment and engagement experience for their team on site,” he said.

“The continuation of our subscription agreements with Pilbara Minerals and Roy Hill also reinforces the demand for Swift’s reliable and value-for-money village entertainment services across the mining sector.”

Swift has been trading at 1cps through this red Friday.

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JB Hi-Fi reports $9.59 billion in sales for FY 2024, snaffles home retailer E & S Trading Co https://themarketonline.com.au/jb-hi-fi-reports-9-59-billion-in-sales-for-fy-2024-snaffles-home-retailer-e-s-trading-co-2024-08-12/ Sun, 11 Aug 2024 23:54:20 +0000 https://themarketonline.com.au/?p=709517 Electronics and entertainment retailing giant JB Hi-Fi Ltd (ASX:JBH) told investors it had achieved solid sales of $9.59 billion in the 2024 Financial Year – despite a tough environment for retailers generally – while also announcing an acquisition which will see it branch into other aspects of the home product market.

In addition to the headline figure for sales, JB Hi-Fi said it had achieved a net profit after tax (NPAT) of $438.8 million for FY 2024, while earnings before interest and tax (EBIT) were $647.2 million.

Focusing on its Australian market, the company said total sales during the period had risen 1% to $6.61 billion, underpinned by continuing demand for technology and consumer electronics products, and sales events around Black Friday, Boxing Day and Tax Time.

In New Zealand, the company reported a total sales increase of 12.3% to NZ$327.9 million, with the main areas of growth being in mobile phones, audio, games hardware, IT and small appliances.

Group CEO, Terry Smart said each brand’s core strengths had boosted these results.

“In this tough retail environment where customers are seeking value, our brands continue to resonate strongly driven by the trust customers have in our low-price best value proposition,” he said.

Also reported in this announcement was the company’s plan to acquire E. & S. Trading Co. Pty. Ltd – a long-established retailer of kitchen, bathroom and laundry goods which is mostly based in Victoria.

First opened by the Sinclair Family in 1962, E & S has 10 showrooms in that state and one opening in the ACT in August, and recorded a FY24 revenue of around $230 million.

The acquisition is to happen in two parts: with JB Hi-Fi taking on 75% for a $47.8 million cash consideration, followed by a put and call option arrangement for the remaining 25% to occur in September 2029.

The market was pleased with the final year report card, and by 15:54 AEST, JB Hi-Fi shares were trading at $72.86, a rise of 8.15% since the market opened.

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Former Crown CEO and MD McCann gets the nod for roles at Star https://themarketonline.com.au/former-crown-ceo-and-md-mccann-gets-the-nod-for-roles-at-star-2024-06-26/ Wed, 26 Jun 2024 00:53:18 +0000 https://themarketonline.com.au/?p=702549 Star Entertainment Group Ltd (ASX:SGR) has appointed Steve McCann – former chief executive officer and managing director of Crown Resorts Ltd – to the same positions, as the company seeks to rebound in the wake of New South Wales state government’s investigations into the company.

Mr McCann – who will join the company on July 8 – also spent a decade as Group CEO of real estate group Lendlease Corporation Ltd, but it is his experience reshaping the corporate culture of Crown which has been underscored as relevant for Star.

Casino operator Star runs the Queen’s Wharf and Treasury Casino in Brisbane, as well as flagship property The Star in Sydney, and another of the same name on the Gold Coast, and has been subject to an ongoing inquiry into casino licences announced in February.

Last month, the company also fielded discussions about potential buyout, with shares rising 23 percent on this news, as Florida-based Hard Rock in particular expressed its interest.

Company chairman Anne Ward – who was appointed in April – said it was a positive step to have someone of Mr McCann’s experience and respect onboard.

“Given his time with Crown, and previous long-standing leadership at Lendlease, he has the right credentials to lead The Star’s remediation program,” she said.

“His track record reflects his capability to work collaboratively with multiple stakeholders and lead meaningful transformational change and cultural renewal.

“This experience will be invaluable as we work towards rebuilding trust and expediting the sustainable transformation of The Star.”

Steve McCann said he was pleased with the appointment.

“I look forward to joining The Star at this critical time. I recognise that there are manycomplex issues and challenges for the company to address,” he said.

“I am committed to working with the Board and the various stakeholders to help drive change, restore confidence and achieve a sustainable resolution.”

Star has been trading up nearly 2 percent at 47 cents.

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PlaySide to take gamers back to Westeros with new PC title https://themarketonline.com.au/playside-to-take-gamers-back-to-westeros-with-new-pc-title-2024-05-24/ Fri, 24 May 2024 04:43:54 +0000 https://themarketonline.com.au/?p=698759 Melbourne-based videogame developer PlaySide Studios Ltd (ASX:PLY) has announced a collaboration with Warner Bros Interactive Entertainment and HBO to create a multiplayer strategy game based on the award-winning televisions series Game of Thrones.

PlaySide – which has a portfolio of 70 video game titles under its belt, including RTS Age of Darkness: Final Stand – will develop the game, which will then be licensed by Warner Bros on behalf of HBO.

The game itself will recreate the characters and settings seen in the show in real time strategy (RTS) format and will feature multiple game modes. The latter means that people will be able to play on their own, with friends or as part of a larger multiplayer battle.

Gameplay will revolve around significant factions from the series, with each faction having its own heroes and styles of play, meaning that players can take part in a story in which they lead their army to victory, using tactical warfare and politics.

The title will be available for PC, reflecting PlaySide’s experience in developing video games for multiple platforms including PC/console, mobile, virtual reality and mixed reality.

The market seemed pleased with the news, sending PlaySide’s shares up by 8.62 percent – to 94.5 cents – by 15:28 AEST since market open.

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