Tabcorp Wagering Slump Takes Gloss Off Lottery Bonanza

Australian wagering and lottery giant Tabcorp Holdings suffered a 3.6 percent fall in wagering and media revenue in financial year 2019, amounting to a failure to weaponise the levelling of the tax playing field for betting companies.

Tabcorp reported full-year results today for the year ending June 30, with strong lottery results driving an overall 8.7 percent rise in revenue to A$5.48bn ($3.72bn).

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