Tag Archives: Tatts

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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Tabcorp returns to black accelerating 2025 vision

Adam Rytenskild

Tabcorp has stated that it has achieved the year-1 objectives of its business transformation following its demerger from Tatts Group, in line with the group’s new TAB25 corporate strategy.  Publishing its 2022/2023 financial accounts, the reorganised ASX sports betting group achieved corporate revenues of AUS $2.43bn (€1.45bn). A year following its demerger from Tatts lotteries, the commercial make-up of Tabcorp …

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ARC recruits Brendan Parnell as MD for Media & International 

SBC News ARC recruits Brendan Parnell as MD for Media & International 

Arena Racing Company (ARC) has confirmed the inbound appointment of Brendan Parnell as Managing Director of its Media and International units.  The former Chief Executive of Racing Queensland (2018-2022), Parnell will join the ARC executive leadership team in spring 2023, taking charge of the company’s media rights strategy for domestic and international markets. ARC underlined Parnell’s proven experience in negotiating …

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Tabcorp reserves $150m to accelerate Rytenskild digital makeover

Adam Rytenskild

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 …

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Tabcorp split signals new era for Australian betting 

Tabcorp revenue bitten by ‘softer trading’ in 1Q24

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 …

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Tabcorp secures approval to spin-off Tatts lottery business

SBC News 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 …

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Tabcorp sees TAB comeback jinxed by NSW venue restrictions 

Tabcorp revenue bitten by ‘softer trading’ in 1Q24

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% …

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Entain to blowout all bid competition in pursuit of TAB

Tabcorp revenue bitten by ‘softer trading’ in 1Q24

Australia’s sports betting incumbents will be closely monitoring the interim results of Entain Plc, published on Thursday 8 July, to see if the FTSE100 gambling group increases its offer to acquire Tabcorp Holdings’ TAB wagering unit. First off the mark, last February Entain launched its initial AUS $3 billion (€2bn) offer to acquire TAB’s wagering and media divisions – an …

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TAB chasing pack must clear regulatory hurdles

tabcorp

Suitors pursuing a break-up of Tabcorp Holdings’ wagering and media assets will have to clear a number of regulatory hurdles in order to complete a deal. As further parties declare their interests in bidding to acquire TAB, the Australian Competition and Consumer Commission (ACCC) has stated that it is ‘monitoring developments closely’ in a situation that will likely change the …

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