Wednesday, 15 August 2012
: Tabcorp Holdings Limited enters a new era on August 16 as the company transitions to Victoria’s new gambling industry structure.
Tabcorp will operate Victoria’s new Victorian Wagering and Betting Licence and will commence a new 50/50 Joint Venture with the Victorian Racing Industry.
The new licence allows Tabcorp to offer on-course and off-course wagering and betting on thoroughbred, harness and greyhound racing and approved sporting and other events. The licence also allows for the offering of approved simulated racing games.
Tabcorp will also commence its new Tabcorp Gaming Solutions business. Under the new Victorian industry model, TGS will be the leading gaming services provider, helping hotels and clubs manage their gaming offer to patrons.
TGS has contracted more than 8500 gaming machines. From August 15 Tabcorp will have transitioned out of its Tabaret business.
“Tabcorp has been a reliable and trusted operator of gambling businesses in Victoria since the company’s establishment in 1994,” said Tabcorp Chairman Paula Dwyer.
“We are committed to delivering the best possible experience for our customers, continuing to invest in our businesses and working with the three racing codes to strengthen Victoria’s position as one of the world’s premier racing jurisdictions.”
Since 1994, when it was granted the Victorian Wagering and Gaming licences, Tabcorp’s Joint Venture with the Victorian Racing Industry has returned more than $4.5 billion to the three racing codes.
This has been the major factor in ensuring Victoria’s thoroughbred, harness and greyhound racing industries are among the best funded in the world.
As part of the new arrangements, the Victorian Racing Industry will receive at least $1 billion from Tabcorp until the end of FY2015, continuing to ensure a well funded and vibrant industry.
Tabcorp’s businesses also make substantial contributions to the community. In FY2012 alone taxes on gambling paid by Tabcorp were $1.12 billion.
Of this, Tabcorp paid $817.9 million in taxes on gambling in Victoria.
Tabcorp Chief Executive Officer David Attenborough said: “Tomorrow marks a new era in Tabcorp’s history. We have maintained a strong focus on ensuring the transition to Victoria’s new gambling environment is seamless for our customers, venue partners and other stakeholders. I would like to acknowledge the hard work and commitment of our employees in helping to achieve this.
“The launch of TGS and the new Victorian Wagering and Betting Licence are valuable growth opportunities for our business. Following the award of the new wagering licence, we have been making major investments in the network to give Victorians who enjoy their racing and sport the world’s best products and services.”
Tabcorp also launched the social lottery game, Keno into Victoria in April, after being awarded Victoria’s first ever stand-alone Keno licence. Keno is now live in more than 600 Victorian venues.
In addition to its Victorian businesses, Tabcorp’s operations include:
• Wagering in NSW through a TAB-branded network of approximately 2,100 agencies and licensed venues, as well as on-course, telephone and online channels.
• TAB Sportsbet, the national leader in fixed odds betting on sport, racing and other events, distributing its products through Tabcorp’s retail network, as well as online, telephone and on-course channels.
• Luxbet, a national online racing and sports bookmaking business, based in the Northern Territory.
• The Sky Racing media business which broadcasts more than 85,000 races a year to 2.4 million homes, 5,400 commercial outlets and 31 countries.
• Keno through more than 2,800 distribution points in NSW and Queensland.
Tabcorp is proud of its corporate social responsibility record. Tabcorp was once again recognised by the Dow Jones Sustainability Index as the overall global leader in the gambling industry and a world leader in the promotion of responsible gambling in its 2011 ratings.
Tabcorp has also been a major donor to the Australian community and gave significant donations to the Victorian bushfire and Queensland flood appeals.
Tabcorp has more than 136,000 shareholders and has a market capitalization within the top 100 Australian companies listed on the Australian Securities Exchange (ASX). Tabcorp is also a major Australian employer, with almost 2,500 employees.