In a major leadership move, Australian gambling giant Tabcorp Holdings Limited today announced the appointment of Gillon McLachlan as the company’s new Managing Director and Chief Executive Officer.
McLachlan, who is currently the CEO of the Australian Football League (AFL), will join Tabcorp on August 5, 2024, and assume the role of Managing Director and CEO upon receiving all necessary regulatory approvals.
In the interim, he will act in an observer capacity, while Bruce Akhurst continues to serve as Executive Chairman.
Tabcorp considered that McLachlan brings a wealth of experience to the group and a proven track record of success.
During his decade-long tenure as the CEO of the Australian Football League, he led the organization through a period of substantial growth, more than doubling its revenues from AU$502 million ($332.1 million) in 2013 to AU$1.06 billion ($661.7 million) in 2023.
He was also responsible for securing the largest sports broadcasting rights deal in Australian history.
Under McLachlan’s leadership, the AFL competition expanded to 18 teams, and he also oversaw the launch of the AFLW (Australian Football League Women) competition.
Additionally, Tabcorp said he demonstrated expertise in managing complex stakeholder environments and working productively with all levels of government.
“Securing Gill is a great vote of confidence for Tabcorp’s future. We’ve laid strong foundations, and Gill brings a growth mindset and the capability to capitalize on the opportunities ahead of us,” Tabcorp’s Executive Chairman, Bruce Akhurst, highlighted in the announcement.
Akhurst also noted that McLachlan’s deep understanding of sport, racing, and wagering, combined with his significant commercial acumen, will be invaluable for Tabcorp’s business, particularly in the areas of wagering and media.
Tabcorp has announced a substantial loss of AU$636.8 million ($417.2 million) and a 5 percent revenue decline in its latest half year report. The loss was mainly attributed to a significant cash impairment within its wagering and media division, stemming from reduced gambling activity and heightened tax rates.
