The government of New South Wales has announced a 5% increase to the Point of Consumption tax on corporate sportsbooks. With this development, the POCT will rise from 10% to 15% and the new rules will be effective on July 1, 2022. Tax Revenue Is Set to Increase by Over $500 Million NSW’s tax increase […]
Tabcorp has ended its three-year legal dispute with Racing Queensland as the operator reached a conditional settlement and it will have to pay AU$150 million ($108.3 million) after the new reforms that were announced by the government of Queensland, Australia. This development comes just days after the company announced several changes in its senior development […]
The Australian state of Queensland will introduce a significant increase to the taxes that corporate sports betting companies pay. This was announced by the state government today. Queensland Levels the Playing Field Queensland’s vision is to change how racing is funded. To that end, a new 5% racing levy will be introduced. This adds to […]
Tabcorp has announced several senior management team changes ahead of its demerger in which its lottery operations will be separated from gaming, wagering and media services. All of the changes were set out in the Demerger Booklet and the demerger is expected to finalize on June 1. Some Employees Will Be Transferred to The Lottery […]
At the end of March, Australia’s lottery operator Tabcorp announced its lottery and keno demerger will be subject to a shareholder’s vote. On May 12, its shareholders showed overwhelming support for the proposal, with close to 99% of all votes expressed during the general meeting favoring the demerger, around 0.17% of votes going against it, […]
Tabcorp, Australia’s lottery operator, will likely demerge its lottery from its gambling business. Almost all shareholders have approved the move and its fate is now up to the court. Tabcorp’s Investors Approved the Demerger Tabcorp’s plan is to establish its lottery business as a separate company called “The Lottery Corporation.” The investors were overwhelmingly in […]
Australian gambling business Tabcorp announced the demerger of its Lotteries & Keno business moved one step closer after the Supreme Court of New South Wales ruled for a shareholder vote on the proposed scheme. Court Green-Lighted Demerger The NSW court ruling requires Tabcorp to convene a shareholder meeting and conduct a shareholder vote on a […]
Australian gambling company Tabcorp and Lottoland, the national online lottery operator, have been awarded 20-year licenses by the Victoria State Government to offer keno games in the jurisdiction. Lottoland Australia and Tabcorp may launch keno products starting on April 15 with the expiration date set for April 2042. Retail and Online Keno Products Both Coming […]
Australian racing and sports betting firm Tabcorp has seen an increase in its revenue in the first half-year of FY 2022. The surveyed period ended on December 31, 2021, and resulted in revenues of AU$2.93 billion ($2.11 billion) or up 2.2%. The period is noted down as H1 2022 because of the specific way Tabcorp […]
ACMA, the Australian Communications and Media Authority, is not relenting to clean up the sports betting and gambling space in the country. After targeting offshore lottery websites for the first time earlier this week, ACMA has now issued a formal warning to respected Aussie sports betting company Tabcorp which the regulator claims accepted 37 illegal online in-play bets on […]
