Tabcorp Holdings
Encyclopedia
Tabcorp Holdings is an Australian company with interests in gaming
, wagering and related media. It was formed through the privatisation of the Victorian
Totalisator Agency Board (TAB) in 1994. The TAB ran all off-track betting on horse racing
, greyhound racing, and harness racing in Victoria, as well as on-course totalisator betting. Since privatisation Tabcorp has diversified into other forms of gambling
. It now has three major areas of activity:
It owned and operated four casino
-hotel complexes; Star City Casino
in Sydney
, the Jupiters
on the Gold Coast
, Treasury Casino in Brisbane
and Jupiters Townsville in Townsville. In 2004, these provided 41% of earnings. These were spun off as Echo Entertainment Group in 2011.
Tabcorp's operations employ about 12,000 people. Net profit after tax was approximately $471 million in 2003-04, on revenues of about $2,500 million.
Gambling, and especially "pokies" remain a somewhat contentious political issue in Australia, and like all gaming operators the efforts of Tabcorp to grow its gaming revenue can be politically controversial. Anti-gambling activists have noted that Tabcorp and its competitor have increasingly moved their allocated quota of poker machines around the state to maximise revenue, thus resulting in concentration of machines in working-class areas.
An investigation by news.com.au reporters Will Temple and David Higgins released on 22 August 2007 claims that Tabcorp had secret approval from the NSW government to loan money to “select high value wagering customers”.
Gambling
Gambling is the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods...
, wagering and related media. It was formed through the privatisation of the Victorian
Victoria (Australia)
Victoria is the second most populous state in Australia. Geographically the smallest mainland state, Victoria is bordered by New South Wales, South Australia, and Tasmania on Boundary Islet to the north, west and south respectively....
Totalisator Agency Board (TAB) in 1994. The TAB ran all off-track betting on horse racing
Horse racing
Horse racing is an equestrian sport that has a long history. Archaeological records indicate that horse racing occurred in ancient Babylon, Syria, and Egypt. Both chariot and mounted horse racing were events in the ancient Greek Olympics by 648 BC...
, greyhound racing, and harness racing in Victoria, as well as on-course totalisator betting. Since privatisation Tabcorp has diversified into other forms of gambling
Gambling
Gambling is the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods...
. It now has three major areas of activity:
- It operates poker machines in many venues across Victoria; with it and Tattersalls the only two companies permitted to run the devices. It has a joint venture with Tattersalls to run kenoKenoKeno is a lottery or bingo gambling game often played at modern casinos, and is also offered as a game in some state lotteries. A traditional live casino keno game uses a circular glass enclosure called a "bubble" containing 80 balls which determine the ball draw result. Each ball is imprinted...
games in hotels across the state. In 2004, 26% of earnings came from gaming. This licence is due to expire in 2012. - It continues to operate off-course and on-course totaliser betting throughout Victoria and now New South Wales (through the acquisition of its privatised NSW equivalent Tab Limited) Betting is now available from many pubs as well as the traditional separate TAB betting shops, and the TAB offers bets on many sports activities other than horse racing. 28% of earnings came from wagering. It also operates internet bookmaker Luxbet, licensed out of the Northern TerritoryNorthern TerritoryThe Northern Territory is a federal territory of Australia, occupying much of the centre of the mainland continent, as well as the central northern regions...
. - It operates Sky ChannelSky RacingSky Racing is an Australian horse and greyhound racing television channel. It is carried by Foxtel, Austar, Optus TV and Neighbourhood Cable. It was formerly available on SelecTV from 16 April 2007 until the closure of its English service in late 2010....
, a collection of horse racing dominated television channels, as well as a NSW-wide radio network - Sky Sports Radio2KY2KY is a commercial radio station based in Sydney, broadcasting throughout New South Wales and Canberra on a network of over 140 narrowcast transmitters as well as the main 1017 AM frequency in Sydney. 2KY broadcasts live commentary of thoroughbred, harness and greyhound racing...
. These provided 5% of earnings in 2004.
It owned and operated four casino
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
-hotel complexes; Star City Casino
Star City Casino
The Star Sydney Casino & Hotel in Pyrmont, Sydney, is the second largest casino in Australia after rival Melbourne's Crown Casino. Overlooking Darling Harbour, The Star Sydney Casino features two gaming floors, eight bars, seven restaurants, 351 hotel rooms and 130 serviced and privately owned...
in Sydney
Sydney
Sydney is the most populous city in Australia and the state capital of New South Wales. Sydney is located on Australia's south-east coast of the Tasman Sea. As of June 2010, the greater metropolitan area had an approximate population of 4.6 million people...
, the Jupiters
Conrad Jupiters
Jupiters Hotel and Casino was Queensland's first casino and hotel complex, which is located in the suburb of Broadbeach on the Gold Coast in Queensland, Australia. The casino is situated next to the Nerang River and is operated by Echo Entertainment Group...
on the Gold Coast
Gold Coast, Queensland
Gold Coast is a coastal city of Australia located in South East Queensland, 94km south of the state capital Brisbane. With a population approximately 540,000 in 2010, it is the second most populous city in the state, the sixth most populous city in the country, and also the most populous...
, Treasury Casino in Brisbane
Brisbane
Brisbane is the capital and most populous city in the Australian state of Queensland and the third most populous city in Australia. Brisbane's metropolitan area has a population of over 2 million, and the South East Queensland urban conurbation, centred around Brisbane, encompasses a population of...
and Jupiters Townsville in Townsville. In 2004, these provided 41% of earnings. These were spun off as Echo Entertainment Group in 2011.
Tabcorp's operations employ about 12,000 people. Net profit after tax was approximately $471 million in 2003-04, on revenues of about $2,500 million.
Gambling, and especially "pokies" remain a somewhat contentious political issue in Australia, and like all gaming operators the efforts of Tabcorp to grow its gaming revenue can be politically controversial. Anti-gambling activists have noted that Tabcorp and its competitor have increasingly moved their allocated quota of poker machines around the state to maximise revenue, thus resulting in concentration of machines in working-class areas.
An investigation by news.com.au reporters Will Temple and David Higgins released on 22 August 2007 claims that Tabcorp had secret approval from the NSW government to loan money to “select high value wagering customers”.
Acquisitions history
- 2003 (13 November): merger of Jupiters Limited and TABCORP Holdings Limited forms TABCORP.
- 2000 (28 February): AWA Limited taken over by Jupiters Limited.
- 1988 (13 January): Amalgamated Wireless Australasia LimitedAmalgamated Wireless Australasia LimitedAmalgamated Wireless Ltd . Throughout most of the 20th century AWA was Australia's largest and most prominent electronics organisation, undertaking development, manufacture and distribution of radio, telecommunications, television and audio equipment as well as broadcasting services.After the...
changes name to AWA Limited.