Tag Archives: Adam Rytenskild

Tabcorp is planning a +AUS $100m (€61.m) bid to become the Melbourne Cup broadcast rights holder, the marquee fixture of Australia’s Spring Carnival.  The ASX betting group is reported to be in negotiations with Victoria Racing Club, in which it seeks to become the ‘local and global’ distributor for the “race that stops the nation”. Held every November, the Melbourne …

Tabcorp’s market leadership position in Australia remains steady as the company reported a small increase in revenue in the second half of 2022, softening the blow of retail closures during the first six months of the year. Issuing an update to its ASX investors covering H123 (30 June-31 December 2022), the betting, gaming and media group reported a 10.6% increase …

Tabcorp Holdings has published its FY22 sustainability report, covering its ESG activities during 2022, including a period before its demerger with The Lottery Corporation. Back in May, Tabcorp completed a demerger of its lottery and keno business, which saw the development of The Lottery Corporation, as the group places a continued focus on gaming and sports betting products. However, the measurements …

The board of Tabcorp has grand ambitions for the company going into 2023, according to the group’s leading board members at its latest AGM. In a statement to investors, Bruce Akhurst (Chairman) and Adam Rytenskild (Managing Director and CEO) asserted that the Australian media firm was ‘raising the game’ following 2022.  This included an update on FY23 trading – covering …

Australian media reports that Betr, the new sportsbook venture of Matthew Tripp, has pulled out of its ‘leading bid’ to take over management of the Western Australia TAB (WA TAB).  This October, the WA Gaming and Wagering Commission surprised industry observers by naming Betr, a yet-to-be-launched sportsbook, as the frontrunner to win its WA TAB contract. The decision was branded …

Tabcorp has committed to invest AUS $33m (€21m) in Dabble Sports, an Australian start-up which aims to develop sports betting’s most socially responsive wagering platform.    The investment will see Tabcorp secure a “20% equity interest” in Dabble’s commercial development, with the ASX group allowed to appoint a director to the start-ups board. Founded in 2020 by Tom Rundle (CEO) and …

Successfully completing the demerger of its Lotteries and Keno business from the Wagering and Media unit, Tabcorp has provided an update on wider commercial success throughout the 2021/22 financial year (FY22). In its financial statement to the ASX, Australia’s largest betting and gaming enterprise reported revenues from both divisions separately, listing Lotteries and Keno as ‘discontinued operations’. Income for Wagering …

Adam Rytenskild, the new Chief Executive of a transformed Tabcorp Holdings, has outlined his determination to revitalise the heritage operator’s online sportsbook performance. Speaking to the Australian Financial Review (AFR.com), Rytenskild admitted that the ASX group’s flagship TAB sportsbook property had fallen behind the ‘nimble competitors’ of Sportsbet AU (Flutter Entertainment) and Ladbrokes Australia (Entain Plc).    Rytenskild stated that …

Publishing its 2022/2023 state budget, the Treasury of New South Wales (NSW) has confirmed a 5% increase in the Point of Consumption Tax (POCT) related to wagering services.  As of July 2022, NSW will demand that all state-licensed bookmakers pay a POCT rate of 15% applied to all sports betting wagers (online and land-based). NSW introduced a 10% POCT wagering …

Tabcorp has detailed a successful end to 2021 trading as the ASX betting group completes the demerger of its lottery and keno business. Updating its investors, Tabcorp group revenues increased by 8.8% to AUS $5.6m (2020: $870m), whilst EBITDA also rose by 11.3% to AUS $1.1m ($985,230). A unit breakdown saw the Wagering & Media unit, consisting of the firm’s …