Australia’s ACMA has ruled that Tabcorp’s Tap in-play service does not breach gambling legislation, according to a report. The decision followed the service qualifying for a special exemption.
The ruling clarifies the legal status of Tabcorp’s in-play betting service in Australia.
The day’s most important stories, free. One email a day.
Australia’s Australian Communications and Media Authority (ACMA) found that Tabcorp’s Tap system did not breach federal gambling rules. The system lets customers prepare live bets on a phone and complete them at dedicated terminals in licensed venues; ACMA said the decision covers its current configuration, with wider rollout still subject to state and territory approvals.
Responsible Wagering Australia is advocating for a blacklist to require social media platforms to remove advertising and accounts linked to illegal offshore betting sites. CEO Kai Cantwell said current ACMA website-blocking powers have covered more than 1,500 sites but are outpaced by operators shifting domains; he put offshore operators’ share of Australia’s sports betting market at 36%.
Fitch reportedly said Tabcorp was well positioned to improve operating margins and reduce leverage. The available text gave no further details.
Fitch said Tabcorp Holdings is well positioned to improve its operating margins and reduce leverage, according to the report.
Fitch said slower earnings growth and heavy capital spending are keeping leverage high among gaming operators in Asia-Pacific, with recent downgrades linked to company-specific pressures. It expects Genting Bhd's net leverage to remain above 4.0 times over the next three years and Genting New York's annual capital spending to average around US$800 million over the medium term.
Victoria’s regulator fined Tabcorp $350,000 in July for telemarketing breaches. The penalty followed an earlier fine from the Australian Communications and Media Authority within the preceding three months.