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Avraham Shalel CEO and co-founder of Plarium, said that Aristocrat was an ideal partner for their common goal of becoming the top social gaming provider globally. Plarium’s existing management team along with Shalel is expected to remain at the helm.
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However the arrest of 18 employees by the Chinese government for gambling crimes last month has since affected business, in particular the inflow of visitors to its Australian casinos. According to analysts, the company is waiting for the situation to settle down before moving forward with the restructuring proposal.
This week, the Cairns Post reported that the local Salvation Army has been forced to let go of a problem gambling counsellor. This is due to lack of financial support from federal government, and there are concerns that even more cuts may be made in the future.
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The word codpiece was essentially slang for crotch piece and even in those days it wasn’t widely accepted. Many members of public took umbrage with the indecency of the codpiece. Philosophers of the time quite correctly noted that hypocrisy of being unable to mention the body part that the codpiece embellishes, yet it may be flaunted in public.
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This mega-casino resort is expected to generate around $1 billion for the Queensland government although the major chunk of that revenue will be collected only after a 10 year period of operation. Queensland is expected to bring in around $880 million after the casino completes 10 years of operation but will receive its first installment of around $272 million this week. We reported in October that China would largely financing the casino build.
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Stories also abound about women being blown around by strong gusts of wind, having their dresses caught in carriage wheels and being trapped in burning buildings. Fortunately the trend of ladies wearing illogical, impractical fashions would soon become a thing of the past. Just kidding, these voluminous dresses remained popular for most of the 19th century.
The deal between the two companies will be completed by the end of 2017. Avraham Shalel, CEO of Plarium, will remain the head of the company even after the acquisition; however, he and 12 other executives at Plarium have decided to defer parts of the payment until 2020.