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NPAT impact for Tabcorp could be around A$3 million
Wednesday May 28,2014 : RACING QUEENSLAND TO HIKE FEES
NPAT impact for Tabcorp could be around A$3 million.
If Racing Queensland gets its way in a proposal to hike racing fees, the Aussie gambling group Tabcorp will likely suffer a A$ 3 million hit on its net profit after tax, the company said in a press release Wednesday.
Tabcorp has been advised of Racing Queensland’s proposed Race Information Fees for 2014-15.
The proposed fees, which cover wagering on Queensland thoroughbred, greyhound and harness racing, are:
* Totalisator bets will be charged at 1.5 percent of turnover for Standard Meetings and 2 percent of turnover for Premium Meetings.
* Non-totalisator bets (fixed odds, tote odds derivatives and exchange bets) will be charged at 2.5 percent of turnover for Standard Meetings and 3.5 percent of turnover for Premium Meetings.
There are 81 proposed Premium Meetings in FY15 made up of 34 thoroughbred, 18 harness and 29 greyhound meetings. There are 1,549 proposed Standard Meetings in FY15.
If the proposed fees had applied to Tabcorp’s turnover on Queensland racing in FY14, and in the absence of any mitigating strategies, the estimated NPAT impact would be approximately $3 million, the statement revealed.
Racing Queensland is holding a 28-day consultation period on the proposed fee structure, with the new approval period to commence on 1 July.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
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Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
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Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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