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Tabcorp
Holdings
 
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Australia's
Tabcorp wins state wagering license - 19th July 2011
Australian gaming group Tabcorp has won the Victorian
state wagering license from 2012, and will pay a premium
up front of A$410 million ($435 million), the Victorian
state government said on Tuesday.
"The
new 12-year licence, which commences in August 2012,
allows the licensee to conduct pari-mutuel and fixed
odds betting, operate the only off-course retail network
in Victoria, establish and operate a Betting Exchange
in Victoria to support account based betting and conduct
approved simulated racing events," the government
said.
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Press
Release
Tabcorp
Agrees Sponsorship Agreement
23rd December 2008
Australian
gambling and entertainment group Tabcorp Holdings
Limited has signed a long-term sponsorship deal with
Harness Racing Victoria for the naming rights to a
new $30 million racing and entertainment complex being
built near Melbourne.
The
development in Melton to the west of the state’s
largest city will be known as Tabcorp Park for both
racing and commercial business when it commences trading
in early-March of next year. The deal mirrors one
that rival firm Betfair signed last month with the
Melbourne Racing Club that saw the historic Sandown
Racecourse branded as Betfair Park for three years.
Tabcorp
Park will feature a 41-room four-star hotel, function
and conference rooms, a bistro, a gaming room, a sports
bar and betting facilities. Racing will begin on the
first weekend of July before becoming a weekly Friday
night fixture over the first year of operation.
“We
are pleased to officially announce that from this
day forward the Melton Harness Racing and Entertainment
Complex will be known as Tabcorp Park,” said
Neil Busse, Chairman for Harness Racing Victoria.
“Tabcorp
have acquired naming rights to the complex as a part
of a long-term sponsorship deal and we thank them
for their investment in the future of the Victorian
harness racing industry. The commercial facilities
will open for business on March 5 of next year and
will service the community seven days a week with
hotel, conference, dining and entertainment facilities.
“Following
this opening, work will commence on stage two of the
construction of our state-of-the-art racetrack, which
will be ready to host trials in late-May and commence
racing in July.
“Tabcorp
Park will quickly become the spiritual home of harness
racing in Victoria and it will provide an important
new revenue stream to support and grow the industry
throughout Victoria.”
Profile
Tabcorp
Holdings is an Australian company with interests in
gaming and wagering. It was formed through the privatisation
of the Victorian Totalisator Agency Board (TAB) in
1994. The TAB ran all off-track betting on horse racing,
greyhound racing, and harness racing in Victoria,
as well as on-course totalisator betting. Since privatisation
Tabcorp has diversified into other forms of gambling.
It now has four major areas of activity:
1.
It owns and operates four casino-hotel complexes;
Star City Casino in Sydney, the Conrad Jupiters on
the Gold Coast, Conrad Treasury Casino in Brisbane
and Jupiters Townsville in Townsville. In 2004, these
provided 41% of earnings.
2. It operates poker machines in many venues across
Victoria; with it and Tattersalls the only two companies
permitted to run the devices. It has a joint venture
with Tattersalls to run keno games in hotels across
the state. In 2004, 26% of earnings came from gaming.
3. It continues to operate off-course and on-course
totaliser betting throughout Victoria and now New
South Wales (through the acquisition of its privatised
NSW equivalent Tab Limited) Betting is now available
from many pubs as well as the traditional separate
TAB betting shops, and the TAB offers bets on many
sports activities other than horse racing. 28% of
earnings came from wagering.
4. It operates Sky Channel, a national horse racing
television network which broadcasts into TAB outlets
and hotels, as well as a NSW-wide radio network. These
provided 5% of earnings in 2004.
Tabcorp's
operations employ about 12,000 people. Net profit
after tax was approximately $471 million AUD in 2003-04,
on revenues of about 2,500 million AUD.
Gambling,
and especially "pokies" remain a somewhat
contentious political issue in Australia, and like
all gaming operators the efforts of Tabcorp to grow
its gaming revenue can be politically controversial.
Anti-gambling activists have noted that Tabcorp and
its competitor have increasingly moved their allocated
quota of poker machines around the state to maximise
revenue, thus resulting in concentration of machines
in working-class areas.
An
investigation by news.com.au reporters Will Temple
and David Higgins released on August 22nd 2007 claims
that Tabcorp had secret approval from the NSW government
to loan money to “select high value wagering
customers”. (Credit:
Wikipedia).
Profiles
TAB
Star
City Casino
Conrad
Jupiters
Websites
TAB
Sports Bet
TAB
Click
here to become a TAB account holder
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