Tabcorp supports Australian reforms

Jake Graves October 25, 2023

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Tabcorp supports Australian reforms

The leadership at Australian gambling operator, Tabcorp have come out in support of the ongoing gambling reforms across the oceanic nation.

These reforms most notably include creating a level playing field in the market and tightening advertising restrictions.

The problem of advertising

Tabcorp is acknowledging the need to reduce gambling advertising and has significantly pledged to avoid advertising on free-to-air television between the hours of 6 am and 8:30 pm next year.

The Australian Communications and Media Authority (ACMA) recently conducted a study using Nielson Advertising data that found that over one million gambling advertisements were aired on Australia’s free-to-air television between May 2022 and April 2023.

This amounted to a total valuation for gambling promoter’s advertising spend of AU$238.6 million.

In lieu of such figures, Tabcorp has advocated for greater restrictions on gambling advertising during a parliamentary inquiry into online gambling.

Tabcorps perspective

Tabcorp sees the level playing field as a way to compete fairly with foreign bookmakers for the first time.

The company has reported improved performance and profitability in states where a level playing field has already been implemented.

Tabcorp’s primary focus is now on its Wagering and Media unit, including the TAB sportsbook brand, following the demerger of its Lottery and Keno business.

Focusing on achieving its TAB25 plan targets, the company intends to increase its digital market share, return on investment capital, as well as operating expenditure among others.

The company also has management incentives that are aligned with the goal of growing shareholder value during this disruptive period for the company.

Speaking in the matter, Tabcorp’s chairman Bruce Akhurst made this statement:?

“This is a very disruptive period for our company. The Board is very conscious of the need to deliver long-term financial outcomes for shareholders and to retain, motivate and reward management to do the work to achieve this.”

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