Tabcorp Holdings
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| Type | Public (ASX: TAH) |
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| Industry | Gambling |
| Founded | Melbourne, Australia, 1994 privatisation of the Victorian TAB |
| Headquarters | Melbourne, Australia |
| Key people | Paula Dwyer, Chairman David Attenborough, Managing Director and CEO |
| Products | Wagering Gaming Media Keno |
| Revenue | AUD2,9410.9 million FY11 (excludes demerged Casino business) |
| Employees | 3,000 (2012) |
| Website | http://www.tabcorp.com.au/ |
Tabcorp Holdings Limited (Tabcorp) is an Australian wagering, gaming and Keno operator and one of the world’s largest publicly listed gambling companies. They carry a supporting media arm.
Contents |
[edit] Business Overview
| Division | Description |
|---|---|
| Wagering |
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| Gaming |
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| Keno |
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| Media |
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[edit] History
Tabcorp was first listed on the Australian Securities Exchange in 1994 as part of the first major public offering by the Victorian State Government of a statutory body. The company acquired the businesses formerly conducted by the TAB for a total of $77.8 million and acquired licences to conduct wagering and gaming in Victoria for $597.2 million.
In December 1999 Tabcorp announced the acquisition of Star City Holdings Limited, the owner of the Star City hotel and casino complex in Sydney.
In April 2000 Tabcorp announced the acquisition of Structured Data Systems Pty Ltd, which developed networked wagering systems, Keno systems and animated games.
In November 2003 Tabcorp merged with Jupiters Limited which owned the three Queensland-based casinos and other gaming operations in Queensland and New South Wales.
In September 2004 Tabcorp completed a takeover for Tab Limited, the New South Wales-based wagering and media company.
An investigation by news.com.au reporters Will Temple and David Higgins released on 22 August 2007 claims that Tabcorp had secret approval from the NSW government to loan money to "select high value wagering customers".[1]
In June 2011 Tabcorp demerged its casinos operations which resulted in Tabcorp’s casinos business being separately listed as Echo Entertainment Group Limited (ASX: EGP). The existing wagering, media, gaming, and Keno businesses were retained by Tabcorp.
[edit] Sustainability
The Tabcorp group is committed to responsibly and efficiently delivering its products and services for all stakeholders. This has resulted in Tabcorp being assessed in the inaugural FTSE4Good ESG (environmental, social and governance) as the best company in the global travel and leisure sector. In the 2011 annual Dow Jones Sustainability Index assessment, Tabcorp received 100% for promoting responsible gambling. It has received this rating for the past five years and was recognised as the overall global leader in the gambling industry in 9 out of the last 10 years.
[edit] Responsible Gambling
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.[2] 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.
Tabcorp has responsible gambling codes of practice in place for its wagering, gaming and Keno businesses, which comply with relevant regulatory requirements. Tabcorp has a self exclusion program called BetCare, an employee assistance program, and supports gambling counselling services to assist customers and employees who require support for their problem gambling.
[edit] Community
Tabcorp businesses and employees contributed approximately $3 million in benefits to local communities and charitable organisations during the 2011 financial year.
In addition the Tabcorp Group contributed a total of $91.5 million (including from the former casinos businesses) in the 2011 financial year to State community benefit funds in Victoria, New South Wales and Queensland.
[edit] See also
[edit] References
- ^ Will Temple and David Higgins (22 August 2007). "Govt in secret betting scandal". News.com.au. http://www.news.com.au/story/0,23599,22287565-5013674,00.html. Retrieved 10 November 2008.
- ^ Davidson, Kenneth (9 June 2003). "Pokie revenue puts us on the road to nowhere". The Age. http://www.theage.com.au/articles/2003/06/08/1055010873049.html. Retrieved 2 February 2012.
