Gaming group Tabcorp, owner of the NSW and Victorian TABs, corporate bookmaker Luxbet and eastern state Keno operations, wants a ban on offshore competitors.
Tabcorp chairman Paula Dwyer today called on the federal government to ban unlicensed offshore operators from taking bets from Australian residents.
Dwyer said Tabcorp was concerned about the rise of unlicensed offshore betting on Australian racing and sport (and on their own revenue).
France, she said, had already introduced a ban, while changes were underway in the United Kingdom.
“Tabcorp’s view is that a similarly powerful response is needed in Australia, and we are in active dialogue with the federal government on this issue,” Dwyer told the annual general meeting of Tabcorp shareholders.
Tabcorp estimates that up to 14 per cent of betting by Australian-based customers is done through operators not licensed in Australia.
Dwyer said that because unlicensed offshore operators were not subject to Australian regulations, consumers risked not being adequately protected.
“Revenue that would otherwise be returned to the Australian racing industry, and our governments for investment into communities and social infrastructure, is instead going to unlicensed offshore operators,” she added.
“It is only right and fair for consumers, sporting codes and taxpayers that all operators are subject to the same licence obligations.”
The Tabcorp chairman also called for the harmonisation of licence conditions across all states and territories for the racing industry.
And she urged reform on the difference paid in wagering taxes by various operators.
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On the revenue side, the Tabcorp Group reported a 6.6 per cent rise in first quarter revenue.
Chief executive David Attenborough says revenues rose to $537.4 million in the September quarter.
“We’re now looking forward to a successful Spring Racing Carnival and an exciting Melbourne Cup week, beginning with Derby Day this Saturday,” he said in a speech to shareholders at the company’s annual general meeting on Tuesday.
