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Australian Gambling Industry Tested

21 April 2006

AUSTRALIA – As reported by the Australian: "Racing Victoria chairman Graham Duff insists he is not angry with departing chief executive Robert Nason. The expletive which rang out on Tuesday when Nason announced he had taken a job with Tabcorp was, Duff says, an honest outpouring of frustration because this was the very worst time for the racing club's boss to take his leave.

"These are unsettling times in the Australian gambling game as long-standing partnerships are shattered and remade in the face of industry consolidation, new technologies and big changes in entertainment choices.

"And one of the alliances being tested is Racing Victoria's productive but recently very fraught relationship with Tabcorp.

"The racing club and Tabcorp are joint venture partners in Victorian wagering, which last year generated $475 million of revenue for the shareholders of Australia's biggest gambling company. That was a bit more than 30 per cent of Tabcorp's total wagering revenue, the balance coming from NSW punters.

"The Victorian Government is reviewing the state's wagering and gaming industry ahead of the issue of new licences in 2012.

"…For the past two years Tabcorp and the Victorian and NSW racing clubs have been at war over Sky Channel's coverage of thoroughbred racing.

"The roots of the dispute pre-date Tabcorp's acquisition of the NSW totalisator, Tab Limited…"

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