Tag Archives: Tabcorp

Tabcorp-backed body lobbies for higher online betting taxes in Australia

Tabcorp-backed body lobbies for higher online betting taxes in Australia

Tabscorp (TAB), Australia’s largest gambling business, has allied with anti-industry group the Alliance for Gambling Reform as well as the Australian Hotel Association to lobby for higher taxes for online betting operators.

The newly-created trade association, named the Aussie Fair Play Coalition (AFPC), will push for other states to follow Queensland’s lead in harmonising the tax paid by online and land-based operators.

The group pointed to the fact that online operators are principally foreign-owned, and therefore argue that the inequitable tax rates unfairly penalise domestic businesses. While some online operators are from Australia, the majority are not based in Australian territory.

This argument is not a novel one – Victoria introduced the first point-of-consumption tax (POCT) in 2019, in the wake of fears that foreign-owned bookies were not paying Australian taxes.

Currently, the POCT stands at 10% in New South Wales and Victoria, 15% in the Australian Capital Territory, T..

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Strong lottery showing helps Tabcorp revenue grow 2.2% in H1

Strong lottery showing helps Tabcorp revenue grow 2.2% in H1

Australia’s Tabcorp Holdings reported an increase in revenue for the six months ended 31 December 2021, with its lottery division the standout performer ahead of its demerger from the group.

For the first half of the operator’s financial year, revenue was up 2.2% year-on-year to AU$2.93bn (£1.55bn/€1.86bn/$2.11bn).

The largest contributor to the group total was the Lotteries and Keno division, comprising The Lott and Keno brands. It saw revenue increase 10.9% to AU$1.78bn in spite of keno venues being impacted by Covid-19 trading restrictions. While keno revenue was down 9.8% to AU$119.0m, lottery was up 12.7% to AU$1.67bn across retail and digital channels.

A highly visible retail network – comprising newsagents, petrol stations, kiosks and pharmacies – helped turnover grow 5%, while digital’s share of lottery turnover was up from 32.1% in the prior year to 36.7%.

Game development helped keep jackpot games and Saturday Lotto turnover growing. However, other titles, such as scra..

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