Victorian Pokies provide money for health

Mar 10 2010 Updated July 4, 2023

The Weekly Source

1 min read

The Victorian government has raised almost $1 billion from the auction of poker machine licences and most of the money has been earmarked for health, with the remainder funding bushfire initiatives. The auction for the 10-year licences ended on Monday and breaks the current duopoly.

VCAT rules Lifestyle Communities’ DMF model illegal

Lifestyle Communities’ business model is under serious threat after a ruling by VCAT President Justice Ted Woodward found its exit fee structure to be illegal. The ASX-listed land lease operator, which was valued at $861.9 million and placed in...

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Ian Horswill

07 Jul 2025

Mergers & Acquisitions

“Aveo is a fantastic business, run by a fantastic management team”: Scape CEO Stephen Gaitanos backs landmark $3.85B acquisition

Scape Australia CEO Stephen Gaitanos has praised the leadership of retirement living operator Aveo, following its acquisition by The Living Company – Scape’s parent – for $3.85 billion, in what is now the largest direct real estate transaction...

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Ian Horswill

30 Jun 2025

Community Living

Catholic Healthcare investing $600M to build connected communities across NSW

One of Australia’s largest Not For Profit providers of home care, residential care and retirement living services, is investing over $600 million over the next five years in five innovative connected communities in New South Wales. “We’ve spent...

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Ian Horswill

07 Jul 2025

Government Policy

Regulator locks in new liquidity standards for aged care providers

The Aged Care Quality and Safety Commission (ACQSC) has released its consultation report on the draft Financial and Prudential Standards set to come into effect under the new Aged Care Act from 1 November 2025 – and as expected, the core liquidity...

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Lauren Broomham

03 Jul 2025

Summerset’s second Melbourne retirement village to open early 2026 as new sales record set

Summerset has posted its strongest quarterly sales on record, with 402 sales for the quarter ending 30 June 2025 – comprising 222 new sales and 180 resales – according to a market update released to the NZX and ASX. It marks the New...

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Ian Horswill

1 hour ago

The Weekly SOURCE

Mergers & Acquisitions

Levande marks seventh retirement village site acquisition in two years

The retirement living operator has acquired the development rights from Mirvac to build a retirement village at Oatlands Golf Club, a private golf club just beyond Parramatta’s CBD, about 18km northwest of central Sydney. Levande is partnering with...

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St Bart’s proposed 80-bed Perth aged care home for the homeless one step closer

Western Australia’s Metro Inner Development Assessment Panel has recommended approval of St Bart’s aged care facility on Brown Street, East Perth, which will provide 80 aged care beds for people over 50 who have a history of homelessness.

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Mercy Community opens $41M aged care home in Rockhampton, QLD

Queensland faith-based operator Mercy Community has held an official opening of its three-storey, 90-bed Mercy Haven aged care facility in Rockhampton, QLD, with CEO Justin Lorenz leading guests on a guided tour.

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Caroline Egan

09 Jul 2025