Tabcorp Holdings Limited is an Australian wagering, gaming and Keno operator and one of the world’s largest publicly listed gaming companies. They carry a supporting media arm. The company manages leading customer brands in Australia, including TAB.com.au, Luxbet, Sky Racing, Sky Sports Radio, Tabcorp Gaming Solutions (TGS), and Keno, serving millions of customers every year.The company’s gaming services firm, Tabcorp Gaming Solutions (TGS) services include the supply of gaming machines, investment in interior design and refurbishment, strategic business advice, access to latest business insights along with loyalty and marketing services.
UK-based Entain Plc has made a non-binding offer to buy the wagering and media division of Australia’s largest gambling company, Tabcorp Holdings.
Tabcorp said a power outage that took out its systems over the weekend caused it to lose wagering turnover over the weekend, but the hit to EBITDA will be less than $10 million. It says its systems have now largely been restored.
Tabcorp digital turnover outstripped retail turnover for the first time in a full year after Covid-19 forced the closure of its outlets and tipped the group to an $870 million ($631.8 million) loss.
Australian wagering giant Tabcorp announced it has secured agreement from its bank lenders for a waiver of leverage and interest cover covenants in response to the financial impact of the Covid-19 pandemic. The waiver is related to its Syndicated Facility Agreement, representing facilities of A$2.2 billion (US$1.6 billion), according to a company filing. As of […]
Australian wagering giant Tabcorp announced a 4.4 percent increase in group revenue for the first half of the 2020 financial year, driven by performance in its lotteries business. The company said that it registered more than 300,000 new customers in the past six months – translating to strong growth in both digital and retail lotteries […]
Tabcorp said it had reached an multi-year accord with the NFL to be the exclusive wagering partner in Australia.
The Australian Federal Police has dropped the investigation into foreign bribery allegations from wagering giant Tabcorp to the family of the Cambodian prime minister, saying it was not possible to obtain the evidence required for criminal prosecution. Tabcorp’s allegedly paid A$200,000 (US$137.4 million) to a consulting company connected to the sister of Cambodian Prime Minister […]
Australian wagering operator Tabcorp has been convicted and ordered to pay more than $14,000 in fines and costs for offering an illegal gambling inducement in NSW. According to a statement from Liquor and Gaming NSW, the penalty was handed down in Sydney’s Downing Centre Local Court on Wednesday after Tabcorp pleaded guilty to breaching NSW […]
Tabcorp Holdings and its UBET Qld unit have received a statement of claim from Racing Queensland related to the state’s new point of consumption tax (POC).
Australian lotteries and wagering giant Tabcorp has appointed Adam Newman as its new chief financial officer, replacing Damien Johnston. Mr Newman will commence the role in early October 2019. Newman has been the CFO of ASX listed energy company AusNet since 2013 in the same role. His previous experience includes leadership roles at BlueScope in […]
Australian wagering giant Tabcorp swung to a net profit of A$28.7 million (US$21.3 million) in FY17, helped by growth in its wagering and lottery business. Net profit after tax was up from a $20.8 million loss in the prior year period. Revenues was up 71.4 percent to A$3.8 billion, while EBITDA reached $529.4 million, up […]
Australian wagering giant Tabcorp on Thursday confirmed its exit from Sun Bets, its flagging UK online wagering business that it has been operating in partnership with News UK since 2016. In an ASX filing on Thursday, Tabcorp Holdings said it will make a payment to News UK to the sum of GBP 39.5 million to […]
Tabcorp Holdings on Tuesday announced that its wholly-owned subsidiary, Tatts Online Pty Ltd, has exercised in full its option to purchase an additional 3.5 million shares in Jumbo Interactive Limited. The purchase would be made at an exercise price of $2.37 per share. However, in conjunction with the share acquisition, Tabcorp also announced it had […]
Tabcorp is eyeing possible expansion in the U.S. after the Supreme Court struck down a ban on sports betting, local media reports. CEO David Attenborough was cited as saying in the Sydney Morning Herald that the Australian wagering giant was keeping a close watch on legal developments in America. He said Tabcorp “might well” look […]
Australian wagering giant Tabcorp is in discussion with News UK to exit its struggling Sun Bets venture, which has reportedly cost the group more than $135 million in two years. The agreement between Tabcorp and News UK to operate the betting business began in December 2015, which is set to run over the course of […]
Australian wagering giant Tabcorp could be raking in more than A$100 million (US$76.1 million) in betting turnover from the upcoming football World Cup, according to a report from the Australian Financial Review. The World Cup runs every four years, and is known to be one of the biggest events for bookmakers globally. This year, the […]
Australian gambling operator Tabcorp Holdings on Thursday said its statutory net profit fell more than 50 percent in the first half of the 2018 financial year. Tabcorp said NPAT and EPS were adversely impacted by significant items after tax of A$57.4 million (US$44.9 million), which comprised of Tatts Group acquisition related costs, Sun Bets onerous […]
The Alliance for Gambling Reform is calling for a complete ban on political donations from the gaming industry, after recent disclosures revealed more than A$1.5 million was donated to major political parties in 2016/17, local media reports. According to analysis by the AGR, in 2016/17, there were 20 seperate gambling industry donations to the federal […]
Tabcorp is planning to close online bookmaker Luxbet following its $11 billion merger with Tatts Group, according to Australian media reports. Customers were told by email on Friday that bets will no longer be taken from Dec. 22. “In August, Tabcorp Holdings Limited (Tabcorp) announced it was undertaking a strategic review of its Luxbet business,” […]
The Supreme Court of Victoria has approved the scheme of arrangement for the combination of Tabcorp and Tatts Group, with the two companies now finally given a clear path to implementing their much anticipated merger. On Tuesday, Tatts announced that its shareholders approved of the company’s merger with Tabcorp Holdings Limited, with 98.6 percent of […]
Australian online bookmaker CrownBet has agreed to no longer impede the US$8.3 billion Tabcorp Tatts merger, after reaching a settlement agreement with the wagering giant. On Thursday, Australian-listed Tabcorp announced it has entered into a settlement agreement which would see CrownBet withdraw its opposition to the upcoming merger. In return, Tabcorp said it has agreed […]
Yggdrasil games will feature on Sun Vegas after the supplier reached an agreement with operator Tabcorp. Sun Vegas will enjoy Yggdrasil’s full portfolio of slots, including recent releases Jungle Books and Valley of the Gods. It will also have access to Yggdrasil’s collection of in-game promotional tools, BOOST and social sharing tool, BRAG. The deal […]
The merger of Tabcorp and Tatts Group is back on track after the Australian Competition Tribunal ruled on Friday that the merger is allowed proceed again, local media reports. The merger was called back into question in July after the Australian Competition and Consumer Commission appealed against the tribunal’s first ruling in June. Following the […]
ASX-listed Tabcorp Holdings Ltd recorded a statutory loss in the first quarter of FY18, as a result of significant items related to its proposed combination with Tatts, AUSTRAC civil proceedings and an operating loss from Sun Bets. The company however reported a 5.7 increase in revenue for the three months to September 30, 2017, reaching […]
Australian wagering giant Tabcorp has pleaded guilty for failing to include a gambling warning notice on a promotion involving jelly beans and mints, local media reports. The company handed out promotional packages containing jelly beans and mints to pedestrians near the Sydney CBD in March, with various slogans including “Nothing’s as sweet as a win” […]
The A$11 billion (US$8.9 billion) merger between Tabcorp and Tatts is looking more likely to be delayed after the Competition Tribunal set an October 24 to 25 date for the merger rehearing, The Australian reports. The dates fall after an October 18 proposed meeting where Tatts shareholders are expected to vote on the deal. “This […]
The A$11 billion (US$8.9 billion) merger between Australia’s Tabcorp and Tatts Group hit a rather large snag on Wednesday after the federal court ruled that the decision be sent back to the Australian Competition Tribunal (ACT), local media reports. The latest court decision is a result of a July appeal from the Australian Competition and […]
Australian wagering giant, Tabcorp swung to a loss of A$20.8 million ($16.5 million) in the year ending June 30, hurt by the costs of its merger with rival Tatts and legal costs. The group had $199.7 million of one-off items, including $61.8 million in fines and legal costs after regulator Austrac ruled the company had […]
The Australian competition regulator has withdrawn its bid to stop the Tabcorp-Tatts merger from moving forward while the appeal against its approval is heard, local media reports. The Australian Competition & Consumer Commission (ACCC) originally sought an injunction after requesting for a federal review of Australian Competition Tribunal’s approval of the deal. ACCC chairman Rod […]
Australia’s corporate bookmakers will be the hardest hit should South Australia’s point of consumption tax be adopted by other states in the country, says CLSA analyst Anthony Longo in a note on Friday. The analyst said that calls for a national point of consumption tax has been gathering in Victoria and New South Wales, who […]
Tabcorp says it remains confident in its proposed merger with Tatts Group, despite a recent legal challenge from the Australian Competition and Consumer Commission (ACCC), which opposes the merger. On Monday, the ACCC said it had applied for a judicial review of the recent Australian Competition Tribunal (ACT)’s decision to approve the Tabcorp-Tatts merger, alleging […]
The proposed Tabcorp-Tatts Group merger is set to face a new set of hurdles after the ACCC on Monday announced it is seeking a judicial review of its recent approval. The watchdog on Monday said it has applied for a judicial review of the recent Australian Competition Tribunal (ACT)’s decision to approve the Tabcorp-Tatts merger, […]
Tabcorp chief executive David Attenborough says the company’s Luxbet brand may be axed after its merger with Tabcorp, The Australian reports. Speaking to RSN radio on Wednesday, Attenborough said Luxbet was under review as it is set to record an earnings loss in the 2017 results. He said that, following the merger, the new combined […]
Tabcorp Holdings has been given the go-ahead from the Australian Competition Tribunal for its proposed merger with lottery giant Tatts Group, according to an ASX announcement from Tabcorp on Tuesday. The tribunal noted it is “satisfied that the proposed merger is likely to result in substantial public benefits,” according to president, John Middleton in a […]
The decision on whether the proposed merger between Australia-listed Tabcorp and Tatts Group will be allowed to go ahead has been extended by three months, local media reports. The Australian Competition Tribunal was scheduled to make a ruling by Tuesday next week, but the deadline has been extended to September 10. The ACT said it […]
ClubsNSW has warned that the potential Tabcorp-Tatts merger could “kill off” digital wagering competition and increase the price of racing vision, The Australian reports. ClubsNSW’s public affairs executive manager, Joshua Landis, expressed his concerns in his submission to the Australian Competition Tribunal on the Tabcorp and Tatts deal. Mr Landis said it was his view […]
The Pacific Consortium, the group behind the most recent takeover offer for Australia’s Tatts Group, says it will not undertake any further work on a bid after its latest A$6.2 billion (US$4.6 billion) cash bid was rejected by the Tatts board. “Given the current approach of the Tatts board the consortium does not intend to […]
Private equity group Pacific Consortium has sweetened its offer for the proposed takeover of Tatts Group, making an all cash bid of A$7.2 billion, or A$4.21 cash per Tatts share. Last year, Tatts Group rejected the consortium’s cash-and-shares offer, which valued the lotteries giant at A$3.40 per share cash for the lotteries business and shares […]
Wagering giant Tabcorp has agreed to divest its Queensland electronic gaming machine monitoring business, Odyssey, as part of the process for securing competition approvals for its proposed merger with Tatts Group Ltd. In a filing to the Australian Stock Exchange on Tuesday, the group announced it has executed agreements with Australian National Hotels Pty Ltd, […]
Tabcorp will soon be announcing a five-year partnership with the Australian Hotels Association which will allow pubs to be incentivized for bets placed by customers using the TAB app, local media reports. Under the deal, around 1116 NSW pubs will be eligible to receive a commission from bets placed at their venues on the TAB […]
Tabcorp said it is maintaining its dividend targets this year after a Federal Court approved a A$45 million ($35 million) penalty to settle a case with financial intelligence agency Austrac. The Australian Transaction Reports and Analysis Centre brought the case against Tabcorp in 2015 for compliance deficiencies relating to anti money laundering and counter-terrorism financing […]
Australia-listed Tabcorp has lodged an application with the Australian Competition Tribunal for authorization to proceed with its merger with Tatts Group. According to a media release, the tribunal application “will be supported by substantive evidence from a wide range of industry participants and experts as to the substantial public benefits from the Transaction accruing to […]
Tabcorp unit, Sky Racing World, the exclusive distributor of Southern Hemisphere horse-racing content to the Americas has expanded its partnership with TVG, a California-headquartered racing-focused TV network and advance depositing wagering (ADW) site. The companies’ new media partnership will see increased TV coverage of Australian racing on TVG and TVG2 from Thursday March 9th, 2017. […]
Australia’s competition regulator says it will examine the proposed merger between wagering giants Tabcorp and Tatts Group “in greater detail”, according to a media release on Thursday. “The ACCC (Australian Competition & Consumer Commission) has consulted extensively with industry participants within the racing, wagering, and gaming industries. The matter raises complex competition issues in a […]
Australian wagering giant Tabcorp has agreed to pay a A$45 million penalty to settle a case brought on by Australia’s financial intelligence agency, local media reports. The Australian Transaction Reports and Analysis Centre (Austrac), filed papers in the Federal Court against three Tabcorp companies in July 2015 for “extensive, significant and systemic non-compliance” with Australia’s […]
Wagering operator Tabcorp has been fined A$16,500 (US$12,600) and ordered to pay legal costs of A$100,000 for publishing illegal advertising in NSW, local media reports. The verdict was delivered on Tuesday by the Downing Centre Local Court in Sydney, which found Tabcorp guilty of offering inducements to potential punters to participate in gambling or to […]
Australian wagering giant Tabcorp Holdings Ltd posted narrowed net profit in the first half of the 2017 financial year, down 28.1 percent to A$58.9 million (US$4.5 million). According to the company’s filing to the Australian Stock Exchange on Thursday, the results, which were below expectation, were largely attributed to significant terms after tax caused by […]
Australian lotteries giant Tatts Group Ltd. has rejected the A$7.3 billion (US$5.5 billion) offer from the Pacific Consortium for its acquisition. Earlier in December, a consortium of four financial investors, called the Pacific Consortium offered up to A$7.3 billion for the acquisition of Australian lottery operator Tatts Group. The Pacific Consortium comprises First State Superannuation […]
Tabcorp has been found guilty of illegally luring punters to open new accounts through promotions published both online and in print, SBC News reports. The promotion, published in August 2015, offered bonus bets and other rewards as inducements. The company was brought to court for publishing ads tempting NSW residents with inducements to gamble or […]
A consortium of four financial investors, called the Pacific Consortium has offered up to A$7.3 billion (US$5.5 billion) for the acquisition of Australian lottery operator Tatts Group, according to a filing to the Australian Stock Exchange on Wednesday. The Pacific Consortium comprises First State Superannuation Scheme, Morgan Stanley Infrastructure Inc., which is an adviser to […]
The acquisition of Tabcorp Holdings Ltd will be a “relatively difficult bite” for Ladbrokes Coral Group Plc, said analysts from Citigroup Inc. quoted by Bloomberg. Earlier this week, it was reported that Ladbrokes Coral was interested in acquiring Tabcorp in a multi-billion dollar deal. The deal would create one of the world’s biggest gambling groups, […]
Tabcorp and Tatts Group may be forced to sell some of their non-wagering businesses under terms imposed by the Australian Competition & Consumer Commission (ACCC), according to market analysts. The market experts, quoted by The Australian, have noted that the ACCC denied the partnership nearly a decade ago, on the grounds of unfair competition. But […]
Ladbrokes Coral is reportedly interested in acquiring Australia’s largest betting company, Tabcorp in a multi-billion dollar deal. According to local media, Ladbrokes Coral has hired advisers within the last few weeks to work on the proposal. The deal would create one of the world’s biggest gambling groups, worth close to GBP5 billion (US$6.2 billion). It […]
Tabcorp has been incentivizing pubs, clubs and other venues that contain TAB outlets to sign customers up for online TAB accounts, according to local media. Over the last few months, the wagering giant has been trialing a program where TAB’s digital products are promoted within venues. Venue owners are then paid a commission when a […]
Tabcorp has confirmed it has grabbed a 10 percent stake in Tatts Group in a strategic move to shore up the $11 billion merger between the two. According to a filing to the Australian Stock Exchange, Tabcorp entered into a cash-settled equity swap on Friday, which gives it rights to 147 million share in Tatts […]
Tabcorp says it will appeal a decision made by the Advertising Standards Board (ASB) against a TV advertisement for the TAB mobile app, which it says depicts excessive gambling, local media reports. The TV commercial for the mobile app was broadcast last month, showing a man reminiscing a recent fishing / camping trip with friends, […]
Australia’s corporate bookmakers have been up in arms over the latest changes to the Interactive Gambling Act, which they claim give Tabcorp and Tatts Group free reign over in-play betting. According to a joint letter sent by Australia’s bookmakers in early November, the latest IGA amendments included a measure that would effectively give the Tabcorp-Tatts […]
Donald Trump’s election victory will not have an immediate impact on Macau SAR, says analysts, but it may be too early to tell. “I don’t think there will be any direct impact, positive or negative,” Union Gaming’s Grant Govertsen said to Macau Daily Times. “…because Macau has far more ties to the Chinese economy [than […]
Wagering giant Tabcorp was hit with investor backlash in its latest annual general meeting over a proposed increased pay packet for its executives and its planned merger with Tatts Group, local media reports. Just over three-quarters of proxy votes were cast at the AGM in Sydney on Tuesday supporting the company’s plans to increase the […]
Australia’s Tabcorp Holdings and Tatts Group have agreed to a A$11.3 billion ($8.7 billion) merger, in a deal which analysts say could help defend against popular online rivals. The transaction will see Tabcorp offer 0.8 Tabcorp share plus A$0.425 in cash for each Tatts share. That implies a value of A$4.34 per share. “This transaction […]
Australia-listed Tabcorp and Tatts Group said on Tuesday that they are in talks to create a A$9.34 billion ($7.1 billion) betting giant, Reuters reports. According to an investment banker involved in the talks, a transaction could be announced within the next two days. Tabcorp announced a “Trading Halt Session” on Tuesday in a filing to […]
Australian wagering giant Tabcorp is aggressively protecting its horse racing broadcast rights in Australia and New Zealand, the Australian Financial Review reports. The wagering company has been spending big amounts to maintain access to vision in Western Australia, and is currently in talks with racing authorities in South Australia and New Zealand to extend deals. […]
Tabcorp chief David Attenborough has warned global rivals that other Australian states may soon be making similar arrangements to South Australia’s point-of-consumption tax, local media reports. SA’s point of consumption tax was announced in June, marking the first time an Australian jurisdiction has targeted betting companies based on where the bets are made, rather than […]
Australia’s TAB has undertaken a significant brand repositioning ahead of the AFL and NRL final series. The relaunch, named the “We Love A Bet” campaign, highlights TAB’s role in providing unique social and memorable moments punters experience when placing a bet with TAB. Led by a series of advertising across television, radio and digital platforms, […]
Australian wagering giant Tabcorp Holdings Ltd posted net profit A$169.7 million for the full year ended June 30, 2016, down 49.3 percent year-on-year. Tabcorp said the results were largely impacted by significant items after tax of A$16.2 million, compared to a one-off tax benefit of A$163.2 million in 2015. The significant items included costs relating […]
Australian gaming giant Tabcorp is expanding its non-traditional business through the acquisition of INTECQ Ltd, an electronic gaming machine developer and marketer, local media reports. The ASX-listed gaming technology group INTECQ was acquired through a A$128 million (US$96.9 million) deal, which Tabcorp says will strengthen its gaming services division and add $20 million to underlying […]
Crownbet chief executive Matthew Tripp has called for an ACCC investigation into Tabcorp’s Sky Channel regarding its broadcast rights hold over almost all forms of racing in Australia. Earlier this week, Tabcorp’s chief executive David Attenborough blamed the online wagering industry for the government’s new stance on betting advertising, saying the crackdown is a result […]
Tabcorp’s David Attenborough has welcomed the proposed tough new stance on betting advertising, saying the crackdown is a result of the wagering industry being unable to regulate themselves adequately. According to the Australian Financial Review, the CEO said the TV ad bans proposed by crossbench federal MP Andrew Wilkie and Senator Nick Xenophon had a […]
SkyCity is likely to deliver a “positive surprise” this results season, while Crown and Ainsworth are likely to underwhelm, said CLSA in a note on Wednesday. “SkyCity is our pick of the gaming stocks to deliver a positive surprise this reporting season, but in the company’s 1H17 trading update rather than the result,” said the […]
Australian wagering giant Tabcorp has filed a defence in relation to civil proceedings brought by AUSTRAC, said the operator in a media release. Tabcorp says it is contesting many of the allegations made against it, with the exception of allegations that related to: its NSW business not enrolling as a reporting entity in the prescribed […]
Australian wagering giant is reportedly looking to launch a takeover bid for the management rights of the fixed odds business of New Zealand’s TAB, the Australian Financial Review’s Street Talk reports. The move is said to be part of the wagering giant’s push into overseas markets to diversify its earnings. On Tuesday, The New Zealand […]
UK-based bookmaker Ladbrokes has accused the Australian federal government of favoring incumbents Tabcorp and Tatts Group with its decision to ban “click-to-call” systems for live sports. The Norfolk-Island licensed bookmaker is the first of its peers to stop offering the service in Australia. Earlier this week, the Northern Territory government sent a letter to its […]
Australian wagering giant Tabcorp has appointed Jamie Hart as executive director of Sun Bets, a News UK joint venture focusing on the UK and Irish market, local media reports. Tabcorp said Mr. Hart, who recently quit William Hill as its head of innovation in March will now report to Tabcorp’s head of wagering, Craig Nugent. […]
An Australian advertising association has released a new code to ensure advertisers and marketers maintain socially responsible ads on wagering products and services, local media reports. Last week, the Australian Association of National Advertisers (AANA) released the Wagering Advertising and Marketing Communication Code to oversee how wagering and gaming companies go to market Under the […]
Australian betting operator Tabcorp said it has extended its sponsorship deal with the Australian Trainers Association, the representative organization for the country’s horse trainers. The new agreement will see Tabcorp partner with the ATA on a number of new race-day initiatives in 2016. It also includes sponsorship of the Australian Trainers’ Trust, including a significant […]
Australia-listed Tabcorp Holdings Limited reported FY 16Q3 group revenues were up 1.9 percent sequentially, according to a recent media release. FY 16Q3 group revenue was A$518.4 million (US$394.7), and year-to-date revenue was A$1.7 million, up 1.9 percent from the previous corresponding period. “Tabcorp continued to drive revenue growth in the third quarter, with pleasing levels […]
Australian wagering operator CrownBet is to be fined more than $20,000 for illegal betting advertising in NSW, local media reports. Liquor and Gaming NSW said that on Thursday last week, the Crown Resorts betting arm was convicted on five counts of publishing advertising that offered inducements for NSW residents to gamble. The company pleaded guilty […]
Australia’s Tatts Group has told investors its $9 billion merger with rival Tabcorp will remain “on ice” due to concerns related to the bidding of Western Australia’s TAB network, local media reports. Robbie Cooke, chief executive of Tatts Group said uncertainty over the response from the Australian Competition and Consumer Commission to a merged bid […]
Tabcorp will be facing new charges after Australia’s financial intelligence agency increased its case against the wagering giant with new allegations, local media reports. Australia’s financial intelligence agency is increasing its case against Tabcorp with new allegations against the wagering giant, local media reports. The Australian Transaction Reports and Analysis Centre (Austrac) and Tabcorp were […]
Tasmania’s racing operator Tasracing has signed a three-year sponsorship deal with Tabcorp, as well as a 10 year broadcasting rights deal with Sky Racing, local media reports. This commercial arrangement will allow Tabcorp, through its Luxbet brand, to have naming rights for the Elwick, Mowbray and Spreyton racetracks, the Tasmanian Summer Racing Carnival and the […]
Anti-corruption experts in the US and Europe say Australian federal police and corporate watchdog ASIC may be spread too thinly to combat anti-bribery cases and more resources are needed, the Sydney Morning Herald reports. Senior OECD anti-corruption official William Loo said Australia’s federal police may not be adequately resourced to handle so many investigations. “How […]
Sky Racing World, a Louisville, Kentucky-based subsidiary of leading Australian wagering operator Tabcorp, has announced a partnership with Hipodromo Argentino de Palermo, a horse-racing track in Buenos Aires, Argentina. Sky Racing World will provide exclusive simulcasting of all races taking place at the Argentinian track to advance deposit wagering (ADW) brands, racetracks and off-track betting […]
The Cambodian bribery allegations could cost Tabcorp up to $120 million (US$90.4 million) in costs and penalties, according to Sydney Morning Herald quoting a CLSA report. The brokerage firm says while in Australia, very few cases of this type make it to trial, while in the US there is a higher chance of a […]
Elmer Funke Kupper has resigned as head of Australia’s main securities exchange as Australian Federal Police probe bribery allegations, local media reports. According to ASX Ltd., the resignation is effective immediately. The ASX CEO has also requested a leave of absence from Tabcorp’s Board of Directors until the bribery investigation conducted by the Australian Federal […]
Online betting on live sports will be banned until the next federal election, local media reports. The in-play betting ban means that bookmakers offering the “click to call” and other live betting systems, including William Hill, Ladbrokes and Bet365, will be shut down. According to The Australian, the government has not yet decided whether it […]
A $200,000 (US$150,300) payment, which was allegedly made as part of a previous attempt to secure a lucrative online gaming licence in Cambodia is being examined by Australian and overseas anti-bribery agencies, according to a report from the Sydney Morning Herald. Australian Securities Exchange chief Elmer Funke Kupper was the CEO of Tabcorp when the […]
Tabcorp and the Victoria Racing Club has announced a new eight-year sponsorship agreement, extending the existing relationship to 2024. The new arrangement, to take effect Aug. 1, 2016, continues Tabcorp as the official wagering partner of the VRC and the Melbourne Cup Carnival. The deal will also include a number of new benefits such as […]
Tatts Group has been told it must pay back more than $540 million ($391 million) to the Victorian Government after losing an appeal in The High Court of Australia. Tatts will also have to pay the state’s costs for the appeal, costs from earlier court hearings and interest, which has yet to be determined. Tabcorp […]
Tabcorp is seeking to clarify a Federal Court judge’s claim that it is refusing to make board minutes available in relation to ‘dirty money’ claims brought to the court by the Australian Transaction Reports and Analysis Center (Austrac), according to Sydney Morning Herald. The judge last week had questioned why Tabcorp would not release the […]
Gaming Minister Colin Holt has told Treasurer Mike Nahan he will not support the sale of WA TAB if the money goes towards paying down the mounting state debt, local media reports. Instead, Holt has reportedly demanded the money to be directed towards the state’s racing industry. “The State Government will not proceed with a […]
Australia’s largest bookmaker, Tabcorp says it is preparing to enter UK’s GBP 3 billion (US$4.2 billion) a year online gambling market with News UK in Spring, according to the Financial Times. Sun Bets is scheduled to launch within six months, with Tabcorp in charge of the gambling platform, and News UK to promote the joint […]
Western Australia’s betting agency will be officially put up for sale within weeks, according to WA’s Racing and Gaming Minister, Colin Holt in an interview with the Australian Financial Review. The potential $1 billion deal (US$710.6 million) for Australia’s last owned betting agency has seen Australia’s Tabcorp and Tatts Group fighting for the rights to […]
Tabcorp Holdings Ltd announced it is to be issued a new NSW Keno License to operate the NSW Keno business until 2050. Keno is a random number game played every three minutes offering instant prizes and large jackpots. Keno is available in over 1,800 NSW Clubs and Hotels. Tabcorp operates Keno in NSW under a […]
Australia betting giant Tabcorp has reported net profit after tax of $81.9 million for the half year ended Dec. 31, 2015, down 33.1 percent from the same period 2014, according to a recent filing to the Australian Stock Exchange. The wagering behemoth announced earnings per share (EPS) of 9.9c per share, down 38.1 percent, and […]
Tabcorp has added Germany’s totalizator to its multi-billion dollar wagering pool via a co-mingling deal. The deal will allow punters in Germany to bet on Australian racing through the German tote, and get access to deeper bet pools and less volatile odds,. It is part of an ongoing strategy by the Australian betting giant. “We’ve […]
Wagering giant Tabcorp has rejected the joint venture approach from British wagering operator Ladbrokes. The deal was first floated in late 2013, according to local media. Ladbrokes, who had launched an online offering was hoping to get a head start on its rivals at the time by teaming up with the incumbent retailer operator, Tabcorp. […]
Tabcorp’s earnings are under pressure from intense online competition, though expansion of its fantasy sports deal may be its saving grace, The Sydney Morning Herald cited a Morgan Stanley analyst as saying. The report estimates the wagering behemoth’s share of online wagering turnover will fall to 23 percent in 2018, down from 30 percent in […]
Tabcorp Holdings has teamed with News UK to launch a new online wagering and gaming business in the UK and Irish markets. The business will be known as Sun Bets and will launch in 2016. The new business will bring together Tabcorp’s capability in global wagering with News UK’s vast customer base and market-leading media […]
Tabcorp has called for a civil-penalty regime for breaches of gambling law, with companies, directors and executives subject to fines, according to a submission to a government review on online gaming seen by The Australian. The ASX-listed company has said that the Australian Federal Police’s recent failure to investigate three British firms offering in-play betting […]
Tatts Group shareholder Sandon Capital voiced disapproval over a potential $9 billion merger between Tatts and wagering company Tabcorp, and suggested that Tatts should look at separating its wagering and lotteries businesses, The Sydney Morning Herald reported. Sandon Capital portfolio manager Gabriel Radzyminski said that Tatts could be worth more than $5.50 a share […]
Tabcorp and Tatts Group announced to the stock exchange that talks regarding a merger have failed and will not continue after both companies were unable to agree on the terms. “Tabcorp confirms that while confidential discussions have taken place regarding a potential merger, the companies were unable to agree mutually acceptable terms and those discussions […]
Australian gambling operator Tabcorp is seeking a new marketing chief after CMO Michael Smith announced that he had left the company following just 10 months in the leadership role. Smith, a former telecoms marketing senior executive for Optus and Singtel, confirmed to Australian Media news source Mumbrella that he had chosen to leave the operator […]
Tabcorp reported total group revenues for the three months ended September 30 of A$543.5 million ($386.4 million), up 1.1 percent year-on-year. Total wagering turnover was $31 billion, up 3.2 percent on the prior corresponding period which included the 2014 soccer World Cup, Tabcorp said in a filing. Wagering and Media revenue growth of 0.7 percent was also […]
A Tabcorp-Tatts Group merger “makes sense” but is unlikely to materialize until the Western Australian wagering licence is sold, said CLSA Research. Recent mergers and acquisitions in the UK wagering sector have increased the focus on a potential deal highlighting synergies and the importance of scale especially, said CLSA in a note. The Tabcorp and […]
Tabcorp reported net profit after tax of A$334.5 million ($246 million) for the full year, up 157.5 percent on the prior corresponding period, driven by its Fixed Odds and Digital Wagering business. Earnings per share rose to 42.5 cents per share, up 146.5 percent, while EBITDA before significant items rose 4.5 percent to $508.1 million. […]
Australian betting operator Tabcorp has announced that it has ended its broadcast stand-off with race track operator Racing Victoria, following months of deadlock negotiations regarding distribution rights. Both Racing Victoria and Tabcorp governance have agreed terms for Victoria race fixtures to be broadcast on Sky Racing 1 network. The broadcast will bring a much needed […]
Australia’s financial intelligence unit, Austrac, has filed papers in the Federal Court against three Tabcorp companies for “extensive, significant and systemic non-compliance” with Australia’s anti-money laundering and counter-terrorism financing legislation. In an announcement to its website, Austrac said the action follows a long and comprehensive process of assessment of the Tabcorp Companies. “AUSTRAC has provided […]
Australia’s Tabcorp said it expects an income tax benefit of about A$128.9 million ($102 million), which will be recorded as a significant item in its accounts ending June 2015, as a result of a settlement with the Victorian government over income tax. The accord relates to the $597.2 million paid by Tabcorp to the state […]
The High Court of Australia will hear and determine whether to allow Tabcorp to appeal the judgement of the appeal court related to Tabcorp’s claim for a payment of $686 million from the state of Victoria. Tabcorp claims that the State of Victoria was obliged to make the payment to Tabcorp in August 2012 when […]
Australia’s Tabcorp is teaming up with U.S. online gaming tournament platform, Unikrn, to offer online betting on arena battle games such as League of Legends and Counter strike, according to media reports. About 500,000 Australian adults are thought to play such games. The deal with Unikrn will form part of Tabcorp’s sports betting offering and […]
Australia’s High Court declined to grant Tabcorp special leave to appeal a judgment made in July ordering the company to pay a levy on its former gaming machine operations. The Victorian government had applied a Health Benefit Levy on Tabcorp’s former gaming machine operations for the 2013 financial year, the company announced. Tabcorp says the […]
Tabcorp reported strong financial results for the first half of this financial year, with net profit increasing 64 percent, boosted by a one-off income tax benefit of $31.5 million. In an earnings call, CEO David Attenborough said the financial results along with the company securing domestic and international media rights for New South Wales thoroughbred […]
Australian racing is in the midst of one of the biggest changes in its long history as the nation's two biggest states – New South Wales and Victoria – wage what the media have dubbed a "turf war" and behind which lies two different approaches to the business of betting.
Australian operators are concerned a point of consumption tax introduced in South Australia may go national, which they say could potentially render the wagering industry unprofitable. The measure is an attempt to tax money where it is actually earned, effectively preventing online companies from enjoying tax arbitrage by basing their operations in a low tax state while offering their services across the country.
Australia’s booming sports betting market is still seen as being attractive to foreign investors despite the merger of local incumbents Tatts and Tabcorp, which are now expected to dominate the market. Opponents to the merger say the combination will reduce competition in the fastest growing area of the market - online and telephone betting. It also comes hot on the heels of new online gambling legislation, which far from bringing Australia in line with international standards, imposed a more restrictive regime.
It’s not the first time we’ve had cause to write about the impact of politics on Asia’s gaming industry and it’s unlikely to be the last. This time politics are casting a shadow over Australia, where attitudes towards gambling appear to be hardening. The recent election has strengthened the position of a hardline anti-gambling crusader, who may now have a much stronger voice.
The Financial Action Task Force has included casinos as money laundering risks since 2003, allowing more than 12 years for countries to implement effective controls in accordance with its recommendations. However, there have been mixed results across Asia.
Horse racing officials, looking to revitalize the pari-mutuel betting model, are turning to the financial world for technology to enable the development of new and complex bets.Pari-mutuel wagering has long formed the financial backbone of horse racing but as the sport comes under serious threat from sports betting and has its revenue drained by illegal bookmaking activities, the popularity of "totalizator" has waned. And complex technology originally applied to solve liquidity problems in derivative markets may now be the thing that comes to the rescue.
The Asian-African Tote Association (AATA), which was established last year to foster relationships between global wagering operators, wrapped up its annual conference in Sydney Sept. 4th- 5th, with leading industry figures providing insight on topics including the potential of co-mingling and the challenges posed by illegal gambling. As wagering operators face mounting competition from other forms of gambling, they are also contending with an illegal market, offering cheaper products and worth potentially as much as $500 billion.
Following months of controversy over “in-play” bets and growing offshore wagering, the Australian government has said it will launch a review of the country’s online gambling act. Industry experts are calling on the government to avoid short-term fixes and over regulation and instead to focus on the rapidly evolving nature of the sector and the technology that drives it.
There have been several recent changes to its gambling legislation in Australia that may have wide implications in both the online and land-based sphere, including the first case brought under the anti-money laundering laws by AUSTRAC.On 22 July 2015, AUSTRAC initiated court proceedings against three subsidiaries of Tabcorp for “extensive, significant and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing legislation.” This is the first time that AUSTRAC has initiated Court proceedings under the act, showing it's not a toothless tiger.