Tag Archives: tabcorp

Tabcorp bribery charges force Elmer Funke Kupper to resign as ASX CEO

Elmer Funke Kupper has announced his resignation as Chief Executive of the Australian Securities Exchange (ASX) as he faces potential allegations of bribery committed during his tenure as CEO of gambling operator Tabcorp. The Australian Federal Police are investigating bribery charges made against Tabcorp Holdings relating to a $200,000 payment made to family members of Cambodian Prime Minister Hun Sen. The …

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Will Tabcorp and News UK launch Sun Bets within six months?

It has been reported that Australian betting company Tabcorp is scheduled to launch Sun Bets, in partnership with Rupert Murdoch’s News UK, within the next six months. Chief Executive at Tabcorp, David Attenborough, had this to say: “It is a natural step for us. We have worked with News Ltd. closely in Australia and built up a high degree of trust. They have one …

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Australia Racing Minister seeks speedy sale of state-owned TAB

Australian news sources have reported that Racing & Gaming Minister Colin Holt is seeking to privatise the Western Australia TAB network (WA TAB), which represents the country’s last state-owned betting agency. Holt is reported to be seeking a AUS $1 billion sale for the state asset, with the Racing Representative Group set to present its auction plans to WA regulators. …

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Tabcorp extends NSW Keno licence until 2050 with AUS $25 million payment

Australian gambling operator Tabcorp has confirmed that it will make an upfront payment of AUS $25 million (£12.2 million) to the New South Wales (NSW) government for its extension of Keno gaming services. The NSW licence, will see Tabcorp extend it Keno provisions services until 2050. The operator is expected to pay an additional Aus $3 million in yearly licence …

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Tabcorp and German Tote to pool totalisators

Germany’s totalisator is the latest to join Tabcorp’s multi-billion dollar wagering pools, following an agreement completed between Tabcorp and German Tote. German Tote is majority-owned by French wagering operator Pari Mutuel Urbain (PMU), while German racetracks (BGG Betriebsgesellschaft der Galopp-Rennvereine mbH) also have a minority stake. The deal will involve the German Tote taking all Australian thoroughbred and harness racing and co-mingling their …

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Tabcorp reported to have rejected Ladbrokes Australian joint venture

The Sydney Morning Herald (smh.com.au) has reported that Tabcorp governance rejected a joint venture approach by Ladbrokes Plc, in a move that would have rocked the Australian betting market. Ladbrokes are reported to have proposed the joint venture in late 2013, with the firm looking to create Australia’s biggest gambling operator. At the time Ladbrokes had launched its Australian betting division …

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UFC 193 betting ban due to corruption concerns

It has been reported that Tabcorp was banned from taking bets on the UFC 193 event in Melbourne in November by Victoria’s gambling regulator. The ban arrived amid warnings that UFC was vulnerable to money laundering by figures in organised crime and corruption. This became the first time that the Victorian Commission for Gambling and Liquor Regulation had refused an …

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Tabcorp to enter UK market in partnership with The Sun

Australian bookmaker Tabcorp Holdings has teamed up with News UK, publisher of The Sun newspaper, to launch a new online wagering and gaming business in the UK and Irish markets. The business will be known as Sun Bets and will launch in 2016. The new business will bring together Tabcorp’s capability in global wagering with News UK’s vast customer base …

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Tabcorp still keen on Tatts Group wagering assets

Despite failing to agree merger terms, Australian business news sources have reported that competitors Tabcorp and Tatts Group may enter some form of corporate union in 2016. Business news sources have reported that Tabcorp governance are still closely monitoring Tatts wagering assets in Queensland, South Australia and the Northern Territory. Following a weekend of speculation, on Monday Tabcorp and Tatts …

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Strewth! Tatts & Tabcorp $9 billion merger talks collapse

Australia’s biggest gambling operators Tatts Group and Tabcorp have failed to agree terms on a merger which would create a + $9 billion enterprise. This weekend national news sources reported that a conformation of the merger talks between the two parties was imminent, but almost immediately the deal was dead in the water. The planned merger would have seen the …

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