Octopus Treasure

What is Octopus Treasure?

In August newly appointed CFO Michael Snape said the move was expected to de-lever, unlock and return capital to shareholders.

Future proceeds from Entain’s full exit of Entain CEE will be used to reduce group reported leverage below 3x, with excess capital returned to shareholders, the company said.

Analysts remain bullish on the operator’s future following its H1 earnings report. A Goodbody note dated 13 August hailed “another positive update, with H1 adjusted EBITDA landing comfortably ahead of expectations”.

What is Octopus Treasure?

Entain said at the time: “As part of our ongoing focus on enhancing Entain’s operational efficiency and agility, we have begun implementing organisational changes which will regrettably impact a number of roles across the group over the months ahead.”  

Entain cut down its Ladbrokes retail estate in Ireland by over a third in April, amid reports it had withdrawn from discussions to sell its entire Ladbrokes retail estate in the market.

Last week, Bet365 also cut more than 300 jobs in response to the UK’s tax increase.

How to play Octopus Treasure

Grant argues that he has booked five Royal Caribbean cruises that were valued at a total of AUD 22,000. He booked the cruises with money he won playing at the Royal Caribbean’s ships’ casinos. 

However, before he could even board the first cruise, Grant was told that he would not be able to proceed onboard. Grant had his son and partner along with him. The company only then went to inform Grant that he had been placed on a “no sail” list, effectively a ban, because of “breaking the house rules” in the casino.

Royal Caribbean informed Grant that he had broken various casino rules. While Grant filed a legal action against Royal Caribbean with the Queensland Civil and Administrative Tribunal, he has enjoyed qualified success so far.