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.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing what 2020 may have had in store.