Tag Archives: tabcorp

September to October 2020 in Review: Autumn signals a ‘generational change’

2020’s Autumn months held no respite for betting leadership, as the sector was placed at the forefront of global business headlines reporting on inbound changes be it through regulatory challenges, M&A or leadership changes… SBC – Politics and M&A make global betting the headline maker…  The betting industry’s autumn proceedings begun with further political maneuverers centred around the UK government’s …

Read More »

January to February 2020 in Review: New year sees betting accept its new duties

SBC recounts the events of an unprecedented and relentless 2020, an unforgettable year that has disrupted all betting components and relationships… SBC – Spain cracks the whip as betting leadership accepts wider responsibility remits European online gambling leadership was given no grace period to ease into a new decade of regulatory complexities, as a newly formed Spanish coalition government signed …

Read More »

Sportsbet broadcasts British and Irish racing through SIS and RMG deal

Sportsbet broadcasts British and Irish racing through SIS and RMG deal

Racecourse Media Group (RMG) and Sports Information Services (SIS) have formalised a multi-year streaming and marketing content arrangement with Sportsbet Australia, allowing the operator to broadcast and take bets on British and Irish racing The deal will see British and Irish thoroughbred racing – which is shown on Tabcorp’s (TAB) SKY Racing network on the TAB app, in venues and …

Read More »

Dwyer and Attenborough warn of Tabcorp’s civic duties as company transitions to a new era

Tabcorp Holdings Group CEO David Attenborough and Executive Chair Paula Dwyer have issued their final joint statements as the corporate leaders of the Australia ASX gambling and lotteries firm.  As previously communicated to markets, Attenborough and Dwyer will formally depart from all Tabcorp leadership and governance duties prior to the firm’s 2021 AGM. The leadership duo, who have led the …

Read More »

Senet Australia appoints Paul Newsom as new client advisory lead 

Senet, a multidisciplinary consultancy specialising in gambling compliance, law and business guidance for Australia’s wagering marketplace, has confirmed the appointment of Paul Newsom as its new Head of Advisory Practice. A recognised figurehead for Australian gambling, Newsom most recently served as Deputy Secretary of the New South Wales Department of Industry, responsible for liquor, gambling and racing public policy and …

Read More »

Tabcorp raises $371m through institutional entitlement offer

Australian racing and wagering company Tabcorp has completed the institutional component of its AU$600 million entitlement offer, with the 97% take-up raising AU$371 million. Tabcorp’s latest financing transaction was revealed following last week’s publication of the ASX gambling group’s 2019/2020 fiscal results, recording operating losses AUS $870 million (€520m), primarily attributed to ‘asset impairment charges’ restructuring the firm’s wagering units. …

Read More »

Melbourne spike sees Tabcorp close TAB Victoria betting shops

Tabcorp Holdings has been forced to close a significant number of TAB betting shops and agents across Victoria, after State Premier Daniel Andrews enforced a further coronavirus lockdown. On Monday, following a spike of more than 200 new cases in the district area of Melbourne, the Victoria government issued a border closure between Victoria and New South Wales – Australia’s …

Read More »

Tabcorp secures debt interest amnesty for 2020  

Tabcorp Holdings has reached an agreement with its US debt holders which will allow the ASX gambling group to defer payments on its debt covenants.  Last month, Tabcorp communicated that it had entered negotiations with US debt holders to obtain new ‘covenant terms’ on its corporate debt tranche of AUS $2.1 billion, maximising financial flexibility as it looks to navigate …

Read More »

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 …

Read More »

TAB urges punters to ‘spend local’ in support of Australian racing

Tabcorp Holdings’ flagship sportsbook property TAB has launched its new “Back the Industry” campaign, urging punters and businesses to support Australian racing during the ongoing COVID-19 crisis. Despite all Australian professional sports leagues postponing their imminent 2020 schedules, Australian horse and greyhound racing remain as the last organised sports still operating during the Australian COVID-19 lockdown, maintaining all meetings behind …

Read More »