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Tabcorp aims US expansion

Niji Ng

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Tabcorp aims US expansion
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Plans are reportedly on the anvil at Tabcorp, Australia’s largest gambling company, to expand in United States, where the states could legalise sports betting following the landmark US Supreme Court order.

Last month, New Jersey won a years-long case in the Supreme Court for the repeal of a law prohibiting sports betting across most US states. The ruling has paved the way for the opening of lucrative new wagering markets in the US, where some estimates have suggested punters already place up to $195 billion a year on underground sports betting.

Tabcorp chief executive David Attenborough on Wednesday said the company was keeping a close watch on legal developments in America, saying Tabcorp “might well” look to move into the market, but his main priority was focusing on finalising Tabcorp‘s integration the Tatts Group after the two companies sealed their $11 billion mega-merger late last year.

“Are we going to be rushing in there? No. Will we be going into America eventually? We might well,” he said at an event hosted by the American Chamber of Commerce in Australia.

“But it will be at the right time … and right now, we are focused on Australia and getting this integration done.”

Mr Attenborough said he was undeterred by the troubles Tabcorp has faced with its ailing UK joint venture – online gambling company Sun Bets – which has struggled since its launch two years ago.

Tabcorp recently told investors it was in negotiations with its joint-venture partner, News Corp UK, to exit Sun Bets.

“That in no way affects future opportunities internationally at the right time,” Mr Attenborough said.

“International businesses aren’t wrong … the Sun Bets business is not making the money that it needs to.”

Since the Supreme Court ruling, some states including New Jersey, Delaware and Rhode Island have already moved to allow wagering companies.

Mr Attenborough said there remained uncertainty about what shape the US sports-betting market may take, and regulatory and taxation differences between various states.

“It’s going to be a patchwork quilt. There are going to be a number of states that go slow, they think New York is probably going to be the biggest market in the short term,” he said.

“We are monitoring all the information that’s flowing out over there. We are not creating right now a ‘shall we, shan’t we’, we are in the pure monitoring phase.”

 

Source: smh.com.au

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Australia

Tabcorp reports higher revenues in 2019

Niji Ng

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Tabcorp reports higher revenues in 2019
Photo Source: Tabcorp
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Australia’s gambling company Tabcorp has reported impressive results for the first month of 2019 on the revenue front. The group amassed revenues of $2,787m, an increase of 108.3 per cent when compared to last year’s revenue for the same period.

The rise is attributed to strong lotteries and Keno performance, digital and retail growth, increased investment in customer generosities and UBET, underperformance pre-transition to full TAB offering, good progress on gaming services contract renewals and new venue sign-ups, and operating expenses reduction driven by synergy benefits.

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Australia

Australia forms anti-match fixing unit

Niji Ng

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Australia forms anti-match fixing unit
Image Source: economist.com
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Australia has decided to the Sports Betting Integrity Unit, to intensify its fight against the illegal practices in the betting industry. This unit will strengthen the national anti-doping regulator.

The new body is expected to tackle match-fixing and cheating in local sports. It will also oversee the nation’s top sporting codes, such as the AFL and NRL. The new national sports integrity commission is likely to begin its operation in July 2020 and will gather and act on intelligence about match-fixing and corruption.

The Department of Home Affairs, the Australian Sports Anti-doping Authority (ASADA) would also get more powers to tackle doping under this new guidance. The authority will also work with federal agencies to collect intelligence and work with integrity units.

The creation of the new unit comes after an inquiry by former police corruption royal commissioner James Wood, who raised concerns after it was revealed that information about corruption and organised crime infiltration of sport was not being acted upon.

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Australia

UFC World Champion Robert Whittaker Becomes Latest PlayChip Brand Ambassador

Zoltan Tundik

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Photo source: Robert Whittaker Twitter
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The current UFC Middleweight Champion struck a deal with the Universal Gaming Token in the lead up to his highly anticipated title fight at UFC 234 in Melbourne next month.

One of Australia’s biggest stars in mixed martial arts has joined the PlayChip Ambassador team ahead of his title clash with USA’s Kelvin Gastelum.

Robert “The Reaper” Whittaker, the incumbent UFC Middleweight Champion, is becoming one of the most recognisable names in the sport having remained unbeaten since 2014, racking up nine straight victories. He is currently ranked #12 on the UFC’s list of best pound-for-pound fighters.

Whittaker’s addition to the PlayChip family continues the Universal Gaming Token’s affiliation with the rapidly growing sport of Mixed Martial Arts, following its agreement with the striking coach of Conor McGregorOwen Roddy, late last year. Cricketing icon, Brett Lee, rounds out the group of ambassadors for PlayChip.

PlayChip Foundation board member, Daniel Simic, was thrilled with addition of the prize-fighter and backed both parties for big things in 2019.

“We are proud to have Robert join the team ahead of his massive clash next month,” he said. “Robert embodies everything we strive for here at PlayChip – dedication, professionalism and an unstoppable drive for success”.

Robert Whittaker was also excited about the new partnership, saying, “PlayChip is at the cutting edge of online gaming. It’s a dynamic first mover in a big market and is a great fit for Team Whittaker. I look forward to changing the game of UFC and online gaming with PlayChip”.

Whittaker is defending his UFC Middleweight World Championship Belt at Rod Laver Arena in Melbourne on February 10. He is fighting against 4th ranked US contender, Kelvin Gastelum, in a match where tickets sold out in just 3 hours.

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