Tag Archives: tabcorp

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 …

Australian racing and wagering company Tabcorp has completed the institutional component of its AU$600 million entitlement offer, with the 97% take-up raising AU$371 million. Tabcorp’s latest financing transaction was revealed following last week’s publication of the ASX gambling group’s 2019/2020 fiscal results, recording operating losses AUS $870 million (€520m), primarily attributed to ‘asset impairment charges’ restructuring the firm’s wagering units. …

Tabcorp Holdings has reached an agreement with its US debt holders which will allow the ASX gambling group to defer payments on its debt covenants.  Last month, Tabcorp communicated that it had entered negotiations with US debt holders to obtain new ‘covenant terms’ on its corporate debt tranche of AUS $2.1 billion, maximising financial flexibility as it looks to navigate …

Tabcorp Holdings has informed investors that the company will sanction no dividend in relation to financial-year 2020 trading. The firm has been forced to terminate the 2020 dividend (fiscal year ending 30 June) as part of its agreed terms with bank lenders, allowing the ASX betting group to waiver approximately AUS $2.2 billion (€1.3bn) of debt covenants until 2021.  Updating …

Australia ASX-listed gambling group Tabcorp Holdings Plc has posted an underwhelming corporate performance, publishing its half-year 2019 trading results (six-month period ending 31 December 2019). Despite recording a 4% increase in corporate revenues to AUS 2.9 billion, Tabcorp results detailed a number of concerns for investors as it delivered a further quarter trading performance below market expectations. Tabcorp’s group performance …

Australia ASX-listed Tabcorp Holdings will renew an ambition to establish its presence within UK gambling, as it prepares to bid for the 2023 National Lottery operating contract. The Daily Telegraph reports that Tabcorp governance has held discussions with investment bank Rothschild, one of four strategic advisors forming the UKGC’s tender evaluation body. A turbulent 2019 saw Tabcorp governance criticized by …

Issuing a market filing, the governance of Australia ASX-listed gambling group Tabcorp Holdings has confirmed the inbound appointment of Anne Brennan as a corporate non-executive director. Updating investors, Tabcorp governance awaits the necessary regulatory and ministerial approval to confirm Brennan’s appointment, with the executive expected to serve as Tabcorp governance advisor from February of next year. An expert in corporate …