Tag Archives: Tabcorp Holdings

Tabcorp raises $230m through retail bookbuild

Tabcorp Holdings has confirmed that it has completed the ‘retail component’ of its AU$600 million (€370 million) entitlement offer, having raised approximately AU$230 million (€142 million). Completing the retail phase of its entitlement offer authorised following Tabcorp publishing its 2019 results, the ASX gambling group sold 8.5 million retail entitlements through the placement generating $2.7 million for company shareholders. The …

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Tabcorp double burdened by covid and group impairment charges

Tabcorp Holdings has declared annual statutory operating losses of AUS $870m (€520m), as group performance was anchored by a combination of asset impairment charges and COVID-19 impacts recorded across its retail wagering portfolio.  Publishing its 2019/2020 financial results, the ASX-listed gambling group recorded a 5% decline in group revenues, falling to AUS $5.22bn (FY2018/19: $5.44bn), with the company absorbing double-digit …

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Tabcorp expects $1bn hit as ‘COVID and retail contractions’ take effect

Tabcorp Holdings will write down its wagering and media business by at least AUD $1 billion (€605m) as a result of COVID-19 shutdowns and ‘the possible acceleration of retail contraction’. The company made its statement in a filing to the ASX Exchange, in which it revealed that it had undertaken a ‘review of assets’ in which it expects to incur …

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Tabcorp calls for leadership makeover as Attenborough ends CEO tenure

Tabcorp Holdings has confirmed that Group Chief Executive David Attenborough will be stepping down in the first half of next year. Attenborough initially joined Tabcorp in April 2010 as managing director for wagering. He then became Managing Director and CEO following Tabcorp’s demerger of its former casinos business in June 2011. As CEO of Tabcorp, Attenborough led the firm’s AUS …

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Tabcorp cancels 2020 dividend as part of new debt arrangement

Tabcorp Holdings has informed investors that the company will sanction no dividend in relation to financial-year 2020 trading. The firm has been forced to terminate the 2020 dividend (fiscal year ending 30 June) as part of its agreed terms with bank lenders, allowing the ASX betting group to waiver approximately AUS $2.2 billion (€1.3bn) of debt covenants until 2021.  Updating …

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Ziggy Switkowski steps down from Tabcorp board

Australia ASX-listed gambling group Tabcorp Holdings has confirmed that non-executive director Dr Ziggy Switkowski would be stepping down from the company’s board, with his retirement effective immediately. Switkowski has held the position of non-executive director since 2006. During his tenure he served on several board committees, including as chairman of the People and Remuneration Committee. Tabcorp Chairman Paula Dwyer stated: …

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Tabcorp names David Gallop as non-executive director

Australian  ASX-listed gambling group Tabcorp Holdings has confirmed the appointment of former-National Rugby League  (NRL) Chief Executive David Gallop to its Board of governance, assuming the position of Non-Executive Director.  Gallop also served as the CEO for Football Federation Australia from 2012 up until his resignation in July. His tenure is due to end on December 31. The appointment, which is yet …

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Australian police close Tabcorp bribery investigation

The Australian Federal Police have decided to close a three-year inquiry into lotteries and betting operator Tabcorp due to the lack of evidence. The investigation, which led to the resignation of Chief Executive of the Australian Securities Exchange (ASX) Elmer Funke Kupper, was looking into bribery charges made against Tabcorp Holdings, relating to a $200,000 payment made to family members …

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Tabcorp appoints Adam Newman as group financial lead

Australia ASX-listed gambling group Tabcorp Holdings continues it’s executive leadership restructure confirming the appointment of Adam Newman as inbound Chief Financial Officer (CFO). Newman is set to join Tabcorp leadership this October, departing from ASX-listed home energy network AusNet Services, where he has formerly led all financial and treasury disciplines as Group CFO (2013-2019). The appointment sees Newman replace long-term …

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Sky Racing World Launches OZ simulcasting for North America

Tabcorp Holdings’ international racing subsidiary Sky Racing World (Sky World) has announced the launch of an Australian racing High Definition (HD) simulcasting channel for the North American marketing. The launch of the channel marks Sky World’s continued focus on the North American market, with its racing content accompanied by a new customised graphics package for North American clients. David Haslett, President and CEO, …

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