Tag Archives: tabcorp

Tabcorp posts €385m losses in H1 of compound AUS challenges

SBC News 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 …

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VRC, Tabcorp & Nine to grow Melbourne Cup in new broadcast deal

SBC News 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 …

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RWA: ‘Sensible’ regulations lead to safer gambling in Australia

SBC News RWA: ‘Sensible’ regulations lead to safer gambling in Australia

In the face of mounting pressure to raise the standards of safer gambling in the country, the Australian federal government has taken on the task to reach higher player protection levels by enforcing new regulations. These regulations are affecting a number of areas of bookmaker operations, including payments and retail betting. Recently, the Victoria Gambling and Casino Control Commission (VGCCC) …

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Tabcorp urged to go cashless in Victoria strengthening TAB’s exclusive rights

SBC News Tabcorp urged to go cashless in Victoria strengthening TAB’s exclusive rights

Tabcorp has been ordered by the gambling authority of Victoria to ‘go cashless’ with its electronic betting terminals (EBTs) to prevent underage gambling. Annette Kimmitt, CEO of the Victoria Gambling and Casino Control Commission (VGCCC), highlighted that there is currently a need for stricter protection against underage gambling after multiple reported incidents of minors placing bets without obstruction or the …

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Tabcorp and RMG distribute Sky Racing content to fans in Aus & NZ

SBC News Tabcorp and RMG distribute Sky Racing content to fans in Aus & NZ

Tabcorp and Racecourse Media Group (RMG) have announced a five-year deal to serve fans in Australia and New Zealand.  From 1 January 2024, the gambling company will distribute its Sky Racing channels in the territory for tote (pari-mutuel) wagering for RMG’s British and Irish content, as well as fixed odds wagering for RMG’s British racecourses.  The agreement enables Sky Racing …

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“There is too much gambling advertising” say Tabcorp leadership

VGCCC hands largest ever AUS$1m fine to Tabcorp

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 …

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Tabcorp revenue bitten by ‘softer trading’ in 1Q24

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 …

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TAB venues face VGCCC wrath over minor gambling breaches

VGCCC hands largest ever AUS$1m fine to Tabcorp

Tabcorp along with eight venues have been charged by the Victorian Gambling and Casino Control Commission (VGCCC) for allegedly allowing minors to gamble. In breach of the Gambling Regulation Act 2003, Tabcorp faces a total of 54 charges from the VGCCC, including 27 counts of allowing a minor to gamble and failing to reasonably supervise its electronic betting terminals. The VGCCC has charged eight …

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Tabcorp resolves Australian Tax Office dispute for AUD$83m refund

Tabcorp resolves Australian Tax Office dispute for AUD$83m refund

Tabcorp Holdings has received an AUD$83m refund from the Australian Tax Office (ATO) after settling a dispute with the government body. The operator, one of the market leaders in Australian betting and gaming via its TAB sportsbook brand, had been at loggerheads with the ATO regarding income tax treatment of payments for ‘various licences and authorities’. The $83m refund represents …

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VGCCC hands largest ever AUS$1m fine to Tabcorp

VGCCC hands largest ever AUS$1m fine to Tabcorp

The Victorian Gambling and Casino Control Commission (VGCCC) has completed a three-year investigation into Tabcorp, issuing the firm a fine of AUS$1m (€6m). Tabcorp, the largest gaming company in Australia and one of the market leaders in sports betting via its TAB brand, was charged with failing to comply with VGCCC directives to provide information during an outage. The ASX-listed …

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