The Northern Territory news Sat 4 Sep 2021
The Northern Territory news; NewspaperNT
Community newspapers -- Northern Territory -- Darwin.; Australian newspapers -- Northern Territory -- Darwin.
News Corp Australia
Copyright. Made available by the publisher under licence.
News Corp Australia
SATURDAY SEPTEMBER 4 2021 BUSINESS 39 V1 - NTNE01Z01MA Steve McCann. is about to top the $500m funds under management mark about 10 months after he founded it. I worked at this big, powerful tech hedge fund and it was awesome (but) I realised I was an entrepreneur at heart, he said. His Goanna Capital named as a reminder of the home country he left in 2011 invests in technology startups at the pre-initial public offering stage and is raising $US250m for its second fund after quickly raising $US150m last year for the first fund. Mr Hilmer now flits between an apartment overlooking New York and a house he owns in the snowy hills of Utah a far cry from when he worked at a BWS bottle shop while studying commerce and law at UQ, dreaming of Manhattan. If you told me when I was at BWS in 11 or 12 years this is going to be your life I would have thought youd lost your mind, he said. As for the future, Mr Hilmer talks about perhaps returning to Australia one day and pursuing a political career. Whatever happens, he says budding entrepreneurs should think about following his unconventional path. Sink your teeth in and have a crack, he said. FROM BWS TO THE BIG TIME ON WALL STREET New York-based Australian investor Rob Hilmers Goanna Capital is about to top $500m in funds under management. Picture: Andrew Kelly Crowns 22-year relationship with the city had been damaged by revelations of money laundering, problem gaming and underpayment of taxes. Melbourne is where Crown began, it is the heartbeat of Crown. We must regain that trust, he said. I am willing to do whatever it takes. I cant change the past of course; there are wrongdoings that we need to get past and were under a lot of scrutiny as a result. But what I can do and will do is everything in my power to ensure that they are not repeated. Crown is currently battling another royal commission in NEW Crown Resorts boss and former Lendlease CEO Steve McCann says he will do whatever it takes to regain the trust of Melburnians in its flagship Southbank casino. But as questions arise about a regulatory break-up of the group, Mr McCann says he still wants to see the gaming giant built by the Packer family maintain control of its Sydney and Perth properties. While Raymond Finkelstein, head of the Victorian royal commission into Crown, finalises his report on whether Crown is suitable to operate the casino, Mr McCann is preparing to uproot his family from Sydney and move to Melbourne. As the CEO of Crown Resorts subject to a few remaining regulatory checks and of the Melbourne casino, Mr McCann is legally obligated to reside in Victoria, a requirement the royal commission found Crown had flouted in the past. Mr McCann said he was happy to make the move because, as a Melbourne native, he understood how badly New Crown chief wont gamble on heartbeat Perth as well as trying to achieve regulatory approval to operate its Sydney casino, after the NSW Bergin Inquiry this year found the company temporarily unsuitable to operate the $2.2bn property. Its largest extant threat remains Commissioner Finkelsteins self-admitted parochial reading of Victorias Consolidated Casino Agreement, which requires the operator of the Melbourne casino to maintain it as its flagship Australian casino. It has raised the possibility that the commission could force a break-up or at least force Crown to keep its Sydney or Perth operations smaller than Melbournes. Crown Sydney is an outstanding resort, it will attract tourism, it will attract high-end tourism and a lot of tourists that come to Australia like to spend time in more than one city, Mr McCann said. I think we need to look at how all that works, in the constraints of the regulatory environment to maximise state revenue as well and to maximise the opportunity to continue to invest in and develop the Melbourne asset as well. C A S I N O S LACHLAN MOFFET GRAY WOOLWORTHS chief executive Brad Banducci has made a personal plea for the nation to beat the delta blues together, as he reflected on the impact on mental health of prolonged lockdowns. In his latest CEO letter, under the heading beating the delta blues together, Mr Ban ducci said he had read a lot of customer feedback and the sense of frustration due to delta is palpable. Our slow cooking and scratch baking adventures from last year have turned into meal shortcuts, and were seeing growth in chilled and frozen food categories that make life a little easier. We also understand that the current challenges are hav ing an impact on our collective mental health, so it is more important than ever to look out for each other and ourselves. While the number of Woolworths staff in isolation had led recently to some empty shelves in supermarkets, Mr Banducci was quick to dismiss concerns of a return to last years panic shopping, which he referred to as the toilet paper wars. Woolies CEO urges united front S U P E R M A R K E T S ELI GREENBLAT Receive full digital access plus weekend newspaper home delivery. For just $5 per month for the first 3 months.* C A L L 1 8 0 0 0 3 1 3 5 3 O R V I S I T N T N E W S . CO M . AU/ 5 FO R 3 *Full Digital Access + Weekend Delivery costs $5 billed approximately monthly for the first 3 months. After the first 3 months, the cost is $33 billed approximately monthly. Renewals occur automatically unless cancelled in accordance with the full Terms and Conditions. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. New customers only. Home Delivery not available in all areas. Allow up to 5 days for home delivery to commence. Prices after the first 3 months may be varied in line with full Terms and Conditions; see www.ntnews.com.au/subscriptionterms for full details.