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Tabcorp Holdings to spin off its casinos into a separate company
Tabcorp says splitting its operations in two recognises the different opportunities and investment profiles of its businesses.
Bloomberg reports that Tabcorp Holdings Ltd., Australia’s biggest gambling company, plans to spin off its casinos into a separate company from its betting shops as it raises A$430 million ($425 million) in an entitlement offer.
Tabcorp proposed the breakup as it seeks to renew a betting-shop monopoly in Victoria state and boost spending on venues to lure high-stakes gamblers. Both businesses may need capital to pay for expansion as the company plans a revamp of casinos in Queensland State, in addition to the existing refurbishment of Star City in Sydney.
“Separate companies will enable the businesses to pursue different growth strategies”, Chairman John Story said. It is anticipated that Chief Executive Officer Elmer Funke Kupper, who has been in the role since July 2007, will oversee the separation before stepping down and taking a non-executive position on the board of the slot-machine and betting business, which will keep the Tabcorp name.
Gambling News :
NBA odds on Thunder vs. Pacers Game? -
This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.
2 New Christmas Slots For Microgaming -
Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.
SportsBetting Supreme Court Showdown -
Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)
NBA Odds: Heat Can Burn Cavaliers in Cleveland -
The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.
Games Concept Day in Malta -
The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.
AFC’s fight against match-fixing -
The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.
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