Tabcorp Holdings

Tabcorp Holdings Limited
Public
Traded as ASX: TAH
Industry Gambling
Founded Melbourne, Australia,
1994 privatisation of the Victorian TAB
Headquarters Melbourne, Australia
Key people
 Paula Dwyer, Chairman
David Attenborough, Managing Director and CEO
Products Wagering
Gaming
Media
Keno
Revenue Increase AUD 3,828.7 million (FY18)[1]
Number of employees
 3,000 (2015)
Website http://www.tabcorp.com.au/

Tabcorp Holdings Limited (Tabcorp) is an Australian wagering, gaming and Keno operator and one of the world’s largest publicly listed gaming companies.[2] They carry a supporting media arm.

Business overview

Wagering

Gaming

  • 1.2 million electronic gaming machine (EGM) customers
  • Operates 13,303 EGMs in 263 clubs and hotels in Victoria, with the licence expiring in August 2012
  • Tabcorp Gaming Solutions (TGS) to commence operation post August 2012
  • TGS is a specialised consulting and support service for operators of EGMs

Keno

  • 1.354 million Keno customers
  • Operates across 2,739 venues in NSW and Queensland
  • New Victorian licence commences in April 2012

Media

  • Three Pay TV channels – Sky Racing 1, Sky Racing 2 and Sky Thoroughbred Central.
  • Sky Racing broadcasts to 2.35 million homes, 5,015 retail outlets with coverage of more than 83,000 races per year and is exported to 29 countries
  • Sky Racing World is exported to 14 million UK and Irish households through international racing broadcaster ‘At The Races’
  • Sky Sports Radio is owned and operated by Tabcorp

History

Tabcorp was first listed on the Australian Securities Exchange in 1994 as part of the first major public offering by the Victorian State Government of a statutory body. The Victorian TAB had been established in 1964.[4] The company acquired the businesses formerly conducted by the TAB for a total of $77.8 million and acquired licences to conduct wagering and gaming in Victoria for $597.2 million.

In December 1999 Tabcorp announced the acquisition of Star City Holdings Limited, the owner of the Star City hotel and casino complex in Sydney.

In April 2000 Tabcorp announced the acquisition of Structured Data Systems Pty Ltd, which developed networked wagering systems, Keno systems and animated games.

In November 2003 Tabcorp merged with Jupiters Limited which owned the three Queensland-based casinos and other gaming operations in Queensland and New South Wales.

In September 2004 Tabcorp completed a takeover for Tab Limited, the New South Wales-based wagering and media company.

An investigation by news.com.au reporters Will Temple and David Higgins released on 22 August 2007 claims that Tabcorp had secret approval from the NSW government to loan money to "select high value wagering customers".[5]

In June 2011 Tabcorp demerged its casinos operations which resulted in Tabcorp’s casinos business being separately listed as Echo Entertainment Group (ASX: EGP). The existing wagering, media, gaming, and Keno businesses were retained by Tabcorp.

In March 2016, Tabcorp extended its sponsorship agreement with Victoria Racing Club (VRC) to 2024.[6]

On 16 March 2017 Tabcorp was fined A$45 million for breaching money-laundering laws. Suspicious behaviour on 108 occasions was not reported to the Australian Transaction Reports and Analysis Centre (AUSTRAC).[7]

In April 2018, the UK Gambling Commission fined Tabcorp £84,000 after its subsidiary business Sun Bets, was found to have breached gambling laws for a publicity stunt involving taking bets on Sutton United's reserve goalkeeper eating a pie during an FA Cup tie against Arsenal F.C. in February 2017.[8]

See also

References

  1. ↑ "Tabcorp 2018 Annual Report" (PDF). tabcorp.com.au.
  2. ↑ "About Us". tabcorp.com.au. Retrieved 2 August 2016.
  3. ↑ John Stensholt (12 December 2017). "Tatts shareholders in big vote for $11b Tabcorp merger". afr.com.au. Retrieved 17 August 2018.
  4. ↑ "TABlet: the first thirty years"
  5. ↑ Will Temple and David Higgins (22 August 2007). "Govt in secret betting scandal". News.com.au. Retrieved 10 November 2008.
  6. ↑ https://www.gamblinginsider.com/news/1887/tabcorp-strikes-new-victoria-deal
  7. ↑ Ryan, Peter (16 March 2017). "Tabcorp fined $45 million for breaching counter-terrorism financing laws". ABC News. Australian Broadcasting Corporation. Retrieved 17 March 2017.
  8. ↑ "Gambling Commission issues Tabcorp with 'Piegate' penalty package Bet". 16 April 2018. Retrieved 18 April 2018.
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