Tabcorp Holdings has informed markets that Adam Rytenskild has resigned with immediate effect as CEO of the ASX-listed wagering and racing media group. Investors were informed this morning of the immediate departure of Rytenskild who faces “allegations of using ‘inappropriate and offensive’ language in the workplace.” Tabcorp said its board considered the language used by the CEO to be inconsistent …
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Tabcorp posts €385m losses in H1 of compound AUS challenges
Tabcorp has accrued corporate losses of AU$636m (€385m) as detailed in the interim 2023/2024 accounts of the ASX gambling group. Statutory losses were attributed to Tabcorp booking impairment charges of AU$731m (€440m) during H1 2023/2024 trading for the reporting period up to 31 December 2023. As reported: “Non-cash impairment charges relate to certain assets in New South Wales (NSW) and …
Read More »VRC, Tabcorp & Nine to grow Melbourne Cup in new broadcast deal
The Victoria Racing Club (VRC), Tabcorp and Nine Entertainment (Nine) have formed a broadcast, media and sponsorship deal for the Melbourne Cup Carnival. The partnership, running from 2024 to 2029, will see the four-day Australian horse racing meeting broadcast on all Tabcorp-operated Sky platforms and the TAB app, with the betting firm having the right to on-sell coverage to other …
Read More »Tabcorp wins exclusive Victoria 2024-to-2043 wagering licence
Tabcorp Holdings has won the exclusive tender to operate the Wagering and Betting Licence of the State of Victoria. 2024 will see the Victorian government modernise the state’s wagering regime to improve consumer protections and tax collection from betting duties. Tabcorp’s flagship TAB brand will serve as the exclusive operator for retail wagering and betting in Victorian pubs for a …
Read More »Tabcorp appoints Mark Howell as inbound CFO to boost 2025 vision
The board of Tabcorp Holdings has confirmed the appointment of Mark Howell as the new Chief Financial Officer (CFO) of the ASX-listed sports betting and racing media group. Subject to regulatory approvals, Howell will take over the role ‘before the end of June 2024’ and will replace Daniel Renshaw, who announced his departure from Tabcorp’s executive leadership team in September, …
Read More »“There is too much gambling advertising” say Tabcorp leadership
Tabcorp’s C-level leadership have broadly endorsed ongoing Australian gambling reforms, in particular the creation of a ‘level playing field’ across the market and tightening restrictions around advertising. Bruce Akhurst, Tabcorp Chairman, and Adam Rytenskild, the ASX firm’s Managing Director and CEO, commented on political developments at the company’s recent AGM, whilst also offering insights into the outcomes of its extensive …
Read More »Tabcorp revenue bitten by ‘softer trading’ in 1Q24
Tabcorp’s revenue fell across multiple verticals during the first quarter of its 2024 financial year, covering trading between 1 July 2023 to 30 September 2023. An update to the ASX stock exchange revealed that Tabcorp’s total group revenue had fallen 6%, with wagering turnover down 0.9% and wagering and media revenue declined by 5% too. Things were not much better …
Read More »Tabcorp returns to black accelerating 2025 vision
Tabcorp has stated that it has achieved the year-1 objectives of its business transformation following its demerger from Tatts Group, in line with the group’s new TAB25 corporate strategy. Publishing its 2022/2023 financial accounts, the reorganised ASX sports betting group achieved corporate revenues of AUS $2.43bn (€1.45bn). A year following its demerger from Tatts lotteries, the commercial make-up of Tabcorp …
Read More »Tabcorp reiterates responsibility as Aus gambling falls under spotlight
Gambling and particularly its advertising and marketing practices have been an area of focus for Australian authorities at the state and federal level. Amidst this, leading betting firm Tabcorp has outlined its responsible advertising principles. A statement published on the ASX group’s website, signed by Managing Director and CEO Adam Rytenskild, asserted that Tabcorp is supportive of ‘tougher restrictions’ on …
Read More »Tabcorp exploring sublicensing Melbourne Cup TV rights
Tabcorp has invited commercial television networks to express an interest in purchasing the domestic broadcast rights for the Melbourne Cup. The ASX-listed gambling group has asserted that it expects the deal could generate up to AU$100m (£53,171,300) over five years. Tapcorp already owns the international broadcasting rights to the thoroughbred event, and has now been granted permission by the Victoria …
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