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Tabcorp

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Tabcorp Holdings Limited
TypePublic
ASX: TAH
IndustryGambling
Founded1994
HeadquartersMelbourne, Australia
Key people
Gillon McLachlan (CEO)
Products
Revenue
  • Increase AUD$2.6 billion (2025)
  • DecreaseAUD$2.34 billion (2024)
Number of employees
5,000+ (2019)
Websitewww.tabcorp.com.au

Tabcorp is an Australian gambling company that provides wagering and gaming products and services. It is listed on the Australian Securities Exchange (ASX).

History

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In 2017, Tatts Group merged with Tabcorp Holdings Limited under the Tabcorp brand.[1] The following year UBET was transitioned back into the flagship TAB brand. In July 2021, Tabcorp announced it would spin off its lotteries and keno business into a separate listed company, called The Lottery Corporation, with Tabcorp retaining its wagering and media arm.[2][3]

Tabcorp history

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In 1961, the Victorian TAB (Totalisator Agency Board) was established, legalising off-course totalisator betting. Three years later in 1964, the NSW TAB was established, betting on two race meetings on its first day at Canterbury and Menangle.

Tabcorp was listed on the Australian Securities Exchange by the Government of Victoria in August 1994, operating a wagering and gaming licence in Victoria.[4][5] In 1999, Tabcorp acquired Star City Holdings, and in 2000 it acquired Structured Data Systems, a developer of wagering and Keno systems.[6]

Tabcorp merged with Jupiters in November 2003 and in 2004, took over Tab Limited, the New South Wales based wagering and media company, including Sky Channel.[7][8]

Matthew Slatter became CEO of Tabcorp in 2002, and oversaw the merge with Jupiters in 2003. However, after a 10% fall in profits in early 2007, he was sacked by the Tabcorp board.[9]

In 2011, Tabcorp demerged its casino operations resulting in Tabcorp's casinos business being separately listed as Echo Entertainment Group. The existing wagering, media, gaming and Keno businesses were retained by Tabcorp.[10]

In 2012, Tabcorp commenced operating Victoria's new Wagering and Betting Licence.[11] In 2014 Tabcorp acquired ACT TAB.[12] In 2016, Tabcorp acquired the gaming systems company Intecq.[13]

In May 2022, Tabcorp shareholders approved the scheme of arrangement for the demerger of the Lotteries and Keno business The Lottery Corporation[circular reference] from Tabcorp.[14][15] The Lottery Corporation commenced trading on the ASX on 24 May 2022. The Lottery Corporation operate the brands The Lott and Keno.[16]

In June 2024, former Australian Football League CEO Gillon McLachlan was appointed CEO of Tabcorp, beginning the role in August 2024.[17]

Controversies

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On 16 March 2017, Tabcorp was fined A$45 million for breaching money laundering laws. Suspicious behaviour on 108 occasions was not reported to the Australian Transaction Reports and Analysis Centre (AUSTRAC).[18]

In August 2007, a News.com.au investigation reported claims that Tabcorp had secret NSW government approval to lend money to selected high-value customers.[19]

In April 2018, the UK Gambling Commission fined Tabcorp £84,000 after its Sun Bets subsidiary breached gambling rules over a publicity stunt during a February 2017 FA Cup tie.[20][21]

In May 2026, AUSTRAC launched an investigation into Tabcorp over concerns about the company's ability to prevent illegal activity, such as money laundering and terrorism financing, on its platform.[22][23]

Tatts Group history

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TAB Qld (TABQ) opened for business in 1962 and was listed by the Government of Queensland on the ASX in November 1999.[24] In 2000, TABQ acquired the Northern Territory TAB from the Government of the Northern Territory and in 2002, the South Australian TAB from the Government of South Australia.[25][26] In December 2002, TABQ changed its name to UNiTAB.[27]

In 2006, Tattersalls Ltd and UNiTAB merged under the Tattersalls brand, and in 2007 the group changed its name to Tatts Group.

Between 2010 and 2012, Tatts Group acquired NSW Lotteries, SA Lotteries and Tote Tasmania. In 2014 it secured a Queensland wagering licence with 30-year exclusivity, and in 2015 it launched the UBET wagering brand.[28]

Wagering and media

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Tabcorp supplies wagering and media services under the TAB brand through retail outlets and digital channels. It was the market leader in Australian wagering until 2020.

See also

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References

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  1. ^ "Australian Competition Tribunal decision on Tabcorp-Tatts merger". Australian Competition and Consumer Commission. 2017. Retrieved 1 July 2026.
  2. ^ Tabcorp announces intention to demerge Lotteries & Keno, Creating Tow Market Leading Companies. Tabcorp. 5 July 2021.
  3. ^ Tabcorp knocks backs suitors and will proceed with demerger. TDN Australia. 6 July 2021.
  4. ^ Tabcorp float scrapes floor at $2.25. Australian Financial Review. 15 August 1994.
  5. ^ Hoye, Russell (1 June 2005). "A Sure Bet: Privatisation of the Victorian TAB". International Gambling Studies. 5 (1): 85–94. doi:10.1080/14459790500098028. ISSN 1445-9795.
  6. ^ OK for Tabcorp's Star City takeover. Australian Financial Review. 7 October 1999.
  7. ^ Former investors. Tabcorp.
  8. ^ Tabcorp takes Management Control of Tab Limited. Tabcorp. 6 July 2004.
  9. ^ "Tabcorp sacks CEO Matthew Slatter". 14 March 2007.
  10. ^ Demerger of Echo Entertainment Group. Tabcorp.
  11. ^ Staff, Racing com. "RV welcomes announcement of new Wagering Licensee". RACING.com. Retrieved 29 December 2020.
  12. ^ Lawson, Kirsten (30 July 2014). "Tabcorp buys ACTTAB in $105.5 illion deal". Canberra Times. Retrieved 29 December 2020.
  13. ^ "Tabcorp buys gaming systems group INTECQ for $128m". Australian Financial Review. 31 July 2016. Retrieved 29 December 2020.
  14. ^ "Demerger of The Lottery Corporation approved by Court". Listcorp. 20 May 2022. Retrieved 24 May 2022.
  15. ^ "Tabcorp receives final courtroom approval to complete lotteries demerger". Inside Asian Gaming. 22 May 2022. Retrieved 1 July 2026.
  16. ^ "Our Brands". The Lottery Corporation. 24 May 2022. Retrieved 24 May 2022.
  17. ^ "Tabcorp a 'fitter' business after returning to net profit in FY25". iGaming Business. 27 August 2025. Retrieved 1 July 2026.
  18. ^ Ryan, Peter (16 March 2017). "Tabcorp fined $45 million for breaching counter-terrorism financing laws". ABC News. Australian Broadcasting Corporation. Retrieved 17 March 2017.
  19. ^ Will Temple and David Higgins (22 August 2007). "Govt in secret betting scandal". News.com.au. Retrieved 10 November 2008.
  20. ^ "Gambling Commission issues Tabcorp with 'Piegate' penalty package Bet". 16 April 2018. Retrieved 18 April 2018.
  21. ^ "Tabcorp agrees £39.5m deal to exit Sun Bets". iGaming Business. 20 July 2018. Retrieved 1 July 2026.
  22. ^ Brischetto, Patrick (7 May 2026). "Tabcorp under investigation after money laundering, terrorism financing concerns". 9news. Retrieved 12 May 2026.
  23. ^ Mathers, Hugo (7 May 2026). "Tabcorp shares plummet amid AUSTRAC investigation". Capital Brief. "Crownpokies". Retrieved 1 July 2026.
  24. ^ Admission to Official List Australian Securities Exchange 15 November 1999
  25. ^ Advice re Northern Territory TAB TABQ 14 April 2000
  26. ^ To Acquire South Australian TAB TABQ 15 August 2001
  27. ^ Certificate of Registration on Change of Name to Unitab Ltd Unitab 3 December 2002
  28. ^ "Tatts to roll out 50 UBET stores in 2015". SBS News. Retrieved 5 January 2021.
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