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 …
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Tabcorp details revenue growth ahead of lotteries demerger
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 …
Read More »Rytenskild & Akhurst take leadership of demerged Tabcorp
Tabcorp Holdings has formally announced its new leadership team and boardroom restructure as the business expects to demerge The Lottery Corporation unit on 1 June 2022. The transition sees David Attenborough retire as Chief Executive of the ASX gambling firm, who will be replaced by Adam Rytenskild as Group CEO of Tabcorp. Last year, Attenborough postponed his planned resignation, in …
Read More »Tabcorp split signals new era for Australian betting
Australian gambling stands on the verge of a market transformation, as shareholders of ASX gambling group Tabcorp Holdings have unanimously approved splitting the business. This morning, Tabcorp’s board disclosed that 99% of shareholders had approved for the demerger of ‘The Lottery Corporation Limited’ – the unit that operates the Tatts Lotto and Keno business across Australia’s six states. The demerger …
Read More »Tabcorp secures approval to spin-off Tatts lottery business
Directors of the Australian lottery, gaming and wagering corporation Tabcorp have ‘unanimously recommended’ that shareholders vote in favour of the proposals to demerge its Tatts lottery and keno operations from its gaming and wagering business. Publishing its ‘Demerger of The Lottery Corporation – Briefing Presentation’, the firm detailed the proposed new business structure which would see Tabcorp separate into two ASX-listed …
Read More »Rugby league clubs join NSW govt initiative against sports betting advertising
Two major Australian National Rugby League (NRL) clubs have joined the New South Wales government’s ‘Reclaim the Game’ initiative, distancing themselves from sports betting. By signing up to Reclaim the Game, the Canterbury-Bankstown Bulldogs and South Sydney Rabbitohs have become the first teams from the NRL – one of the most-watched tournaments in Australia, with a TV audience of 101.9 …
Read More »Victoria state awards 20 year Keno licences to Tabcorp and Lottoland
Australian betting and gaming operator Tabcorp and Lottland’s regional subsidiary Lottoland Australia have been awarded 20 year licences in Victoria. Both licences commence on 15 April 2022 and run until 2024, with the two companies permitted to provide Keno games services across online and retail verticals by the Victorian State Government. ASX-listed gambling group Tabcorp had previously been active in …
Read More »Tabcorp sees TAB comeback jinxed by NSW venue restrictions
Tabcorp Holdings has underlined that its business recovery continues to be affected by COVID-19 restrictions applied across Australia’s five-state provinces. Publishing its half-year 2021/2022 results for the six-month period ending 31 December, the ASX gambling group recorded a 2% increase in corporate revenues to AUS $2.93 billion (€1.52 bn). Topline growth was attributed to Tabcorp’s Lotteries-&-Keno unit registering an 11% …
Read More »Entain and Tabcorp battle for WA TAB ownership
Attention has been drawn to Western Australia, as the state’s government undertakes a final bidding round to sell its WA TAB bookmaker office – a transaction that will reshape Australia’s gambling landscape. The auction sees Entain Plc once again step up to the M&A plate, as the FTSE100 gambling group bids to acquire the WA TAB as a retail asset …
Read More »English speakers identified as most at-risk problem gambling group by Gambless
Gambless has recorded 3,500 self-assessment tests completed via its mobile app, revealing strong differences in problem gambling across international borders, with English speakers encountering issues much more than other linguistic groups. Publishing its first annual report, the Mindspa-funded and ORCHHA-certified international gambling harm prevention app found that English speakers, mainly from the US, UK, and Australia, recorded a 57% higher …
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