Tag Archives: New South wales

Tabcorp posts €385m losses in H1 of compound AUS challenges

SBC News Tabcorp posts €385m losses in H1 of compound AUS challenges

Tabcorp has accrued corporate losses of AU$636m (€385m) as detailed in the interim 2023/2024 accounts of the ASX gambling group. Statutory losses were attributed to Tabcorp booking impairment charges of AU$731m (€440m) during H1 2023/2024 trading for the reporting period up to 31 December 2023. As reported: “Non-cash impairment charges relate to certain assets in New South Wales (NSW) and …

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NSW to take ‘zero tolerance approach’ on pub betting advertising from December

NSW to take ‘zero tolerance approach’ on pub betting advertising from December

Pubs and clubs in New South Wales (NSW) are overwhelmingly complying with new regulations around public advertising, according to the state regulator. State-wide reforms to betting regulation have imposed a range of new rules for the local industry from 1 September onwards, including a requirement for all alcohol-serving venues to remove external gambling signage.  A Liquor and Gaming New South …

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NSW tasks panel to deliver ‘gambling reforms roadmap’ by 2024

SBC News NSW tasks panel to deliver ‘gambling reforms roadmap’ by 2024

 The government of New South Wales (NSW) has formed a new independent panel to deliver a “comprehensive roadmap on gambling reforms.” The panel, consisting of 16 members, will be led by former NSW Office of Liquor, Gaming and Racing Commissioner, Michael Foggo, who will serve as Chairman. Tasked with providing optimal oversight on gambling policies, the panel’s composition includes representatives …

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Australian operators warned to knuckle down on TV gambling harm messages

SBC News Australian operators warned to knuckle down on TV gambling harm messages

The NSW Government (New South Wales) is calling on wagering operators to ensure that responsible gambling messages are communicated effectively in advertising. The announcement comes as Liquor & Gaming NSW has issued show cause notices to two betting operators due to irregularities in their TV ads that undermined previously-agreed responsible gambling messages. Liquor & Gaming NSW is responsible for ensuring …

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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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NSW levels Australia POCT wagering tax at 15% across all states

SBC News NSW levels Australia POCT wagering tax at 15% across all states

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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New South Wales govt seeks public feedback on betting and racing legislation

NSW

The government of New South Wales has set itself an objective to ‘improve, modernise and streamline’ the state’s wagering and racing laws, which are due for repeal on 1 September 2022.  Currently, betting and horse racing in Australia’s most populous state are governed by the Betting and Racing Act 1998 and Betting and Racing Regulation 2012 and the Totalizator Act …

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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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Senet Australia appoints Paul Newsom as new client advisory lead 

SBC News Senet Australia appoints Paul Newsom as new client advisory lead 

Senet, a multidisciplinary consultancy specialising in gambling compliance, law and business guidance for Australia’s wagering marketplace, has confirmed the appointment of Paul Newsom as its new Head of Advisory Practice. A recognised figurehead for Australian gambling, Newsom most recently served as Deputy Secretary of the New South Wales Department of Industry, responsible for liquor, gambling and racing public policy and …

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