Original URL: http://www.theregister.co.uk/2011/12/22/harvey_norman_bets_on_gaming/

Gerry turncoat Harvey gives gamers a deal

Launches discount, offshore GST-free online gaming site

By Natalie Apostolou

Posted in Games, 22nd December 2011 21:00 GMT

The CEO of Australian retailer Harvey Norman, Gerry Harvey has unleashed his fickle ways on the gaming industry, launching an offshore discount gaming site just days before Christmas.

Harvey has been one of the most vociferous protagonists against the growth of borderless online shopping, campaigning for months on the idea of instituting GST on international orders.

His new venture www.harveynormandirectimport.com, is the manifestation of the etailing model that he has been so strongly arguing against.

The site will be based in Ireland, which will allow Australian customers to buy games directly from Harvey Norman Ireland, GST free, and at the lowest prices currently available in Australia.

Harvey Norman’s European suppliers are sourcing hundreds of game titles on line, which are available for immediate shipping.

"The gaming customer in Australia has been paying too much for years and we look forward to providing our customers with a new cost effective offering”, said Ben McIntosh, GM, Harvey Norman Computers and Communications.

The announcement came at the same time as the company informed the ASX that it had extended a loan agreement with financiers for the repayment of $610 million which was due to be repaid in December 2012.

Under the new terms of the Syndicated Facility Agreement, the loan is repayable in two tranches, one of $370 million, on 22 December 2014 and the remaining $240 million on 22 December 2016.

That’s a lot of games to sell to online. ®