Tabcorp calls on government to act on unlicensed offshore operators

Tabcorp calls on government to act on unlicensed offshore operators

Wednesday, October 29, 2014

Paula Dwyer, the chairman of gaming company Tabcorp, has urged the country’s federal government to clamp down on unlicensed offshore operators that are targeting the Australian market.

Dwyer told shareholders at Tabcorp’s annual general meeting that the Australian gaming company is concerned about the increase of unlicensed offshore betting on horseracing and sports competitions in the country.

Dwyer said that Australia should follow the example of France and the UK, with the former already banning offshore operators and the latter in the process of implementing a point-of-consumption tax.

“Tabcorp’s view that a similarly powerful response is needed in Australia and we are in active dialogue with the federal government on the issue,” Dwyer said, after claiming that about 14 per cent of betting by Australians is through unlicensed operators.

“Because unlicensed offshore operators are not regulated to Australian standards, there are significant risks to consumers in terms of inadequate protection, as well as to the integrity of sport and racing.”

Tabcorp, which operates in Victoria, New South Wales and the ACT also wants licensing conditions to be harmonised across the states in Australia.

Under the current model, betting revenue is shared between Tabcorp, winning punters, the racing industry and government taxes.

“A harmonised approach is fundamental to the future of Australian racing and is in the interests of all Australian taxpayers,” Dwyer said.

In other news, it has emerged that private investment fund Ellerston Capital has increased its stake in Tabcorp to more than five per cent.

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