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Tabcorp Holdings

Company nameTabcorp Holdings Limited
Company typePublic (Asx - TAH)
SloganThe bigger better game
IndustryGambling
FoundedMelbourne, Australia, 1994 privatisation of Victorian TAB
HeadquartersMelbourne, Australia
Key peopleJohn Story, Chairman
Elmer Funke Kupper, Managing Director & CEO
ProductsTotalisator wagering
Casinos
Gaming machines
RevenueA$4.22 billion (2009)
Employees12000 (2004)

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Tabcorp Holdings is an Australian company with interests in gaming, wagering and related media. It was formed through the privatisation of the Victorian Totalisator Agency Board (TAB) in 1994. The TAB ran all off-track betting on horse racing, greyhound racing, and harness racing in Victoria, as well as on-course totalisator betting. Since privatisation Tabcorp has diversified into other forms of gambling. It now has three major areas of activity:

# It operates poker machines in many venues across Victoria; with it and Tattersalls the only two companies permitted to run the devices. It has a joint venture with Tattersalls to run keno games in hotels across the state. In 2004, 26% of earnings came from gaming. This licence is due to expire in 2012.

# It continues to operate off-course and on-course totaliser betting throughout Victoria and now New South Wales (through the acquisition of its privatised NSW equivalent Tab Limited) Betting is now available from many pubs as well as the traditional separate TAB betting shops, and the TAB offers bets on many sports activities other than horse racing. 28% of earnings came from wagering. It also operates internet bookmaker Luxbet, licensed out of the Northern Territory.

# It operates Sky Channel, a collection of horse racing dominated television channels, as well as a NSW-wide radio network - Sky Sports Radio. These provided 5% of earnings in 2004.

It owned and operated four casino-hotel complexes; Star City Casino in Sydney, the Jupiters on the Gold Coast, Treasury Casino in Brisbane and Jupiters Townsville in Townsville. In 2004, these provided 41% of earnings. These were spun off as Echo Entertainment Group in 2011.

Tabcorp's operations employ about 12,000 people. Net profit after tax was approximately $471 million in 2003-04, on revenues of about $2,500 million.

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. 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.

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”.


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