Tabcorp fined A$16,500 for illegal promotion

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 open a betting account.

In the sentencing hearing, Magistrate Susan McIntyre imposed the maximum penalty of A$5500 for each of the three offences, adding that a strong message needed to be sent to other gambling companies.

Last week, Tabcorp posted narrowed net profit for the first half of the 2017 financial year, down 28.1 percent to A$58.9 million. Total revenue for the half year was A$1.2 billion, up 2 percent year-on-year.

SHARE
Previous articlePariplay Ltd. partners with Interwetten Gaming
Next articleVenues should be penalized: Health groups

Related Articles

Tabcorp EBITDA hit from power outage less than $10 million

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. 
Australia tabcorp

Tabcorp digital turnover grows, though group posts loss

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.

Tabcorp secures debt waivers as part of Covid-19 response

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 […]

Tabcorp lottery segment drives FY20H1 revenue

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 […]