{"id":250,"date":"2024-06-26T01:52:41","date_gmt":"2024-06-25T22:52:41","guid":{"rendered":"https:\/\/winadaynodepositbonus.icu\/2024\/06\/26\/tabcorp-appoints-former-afl-chief-as-new-ceo\/"},"modified":"2024-06-26T01:52:41","modified_gmt":"2024-06-25T22:52:41","slug":"tabcorp-appoints-former-afl-chief-as-new-ceo","status":"publish","type":"post","link":"https:\/\/winadaynodepositbonus.icu\/2024\/06\/26\/tabcorp-appoints-former-afl-chief-as-new-ceo\/","title":{"rendered":"Tabcorp Appoints Former AFL Chief as New CEO"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/wlxiFI5NkaE\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Tabcorp has declared that Gillon McLachlan, the previous leader of the Australian Rules Football League (AFL), will be their new chief executive. He will commence on August 5th, once he secures the required authorizations.<\/p>\n<p>McLachlan has been the head of the AFL for a decade. During his tenure, he expanded the league to 18 teams and doubled their income to over $1 billion.<\/p>\n<p>He succeeds Adam Rytenskild, who departed in March after he was accused of using inappropriate language in the workplace. Rytenskild had been Tabcorp&#8217;s CEO for a year.<\/p>\n<p>The chairman of Tabcorp, Bruce Akhurst, has been managing the company while they sought a new chief executive. He will remain in charge until McLachlan begins in August.<\/p>\n<p>Akhurst stated that McLachlan is an exceptional leader and that he is thrilled to have him on board. He mentioned that McLachlan will assist Tabcorp in expanding and capitalizing on new opportunities. <\/p>\n<p>Gill brings a distinctive viewpoint to the discussion, having been involved in some of the largest media transactions in Australian sports. We&#8217;re thrilled about the potential for our wagering and media ventures under his direction.<\/p>\n<p>McLachlan spoke about the &#8220;enormous possibilities&#8221; at Tabcorp.<br \/>\nHe stated that his emphasis would be on accelerating Tabcorp&#8217;s expansion. He also mentioned their multi-channel entertainment offerings across digital, retail, and media.<\/p>\n<p>&#8220;Tabcorp is a betting, broadcasting, and integrity services company with a fantastic chance to grow,&#8221; McLachlan said. &#8220;Tabcorp is a proud Australian organization that contributed $1.1 billion to the racing industry last year. They&#8217;re one of the biggest partners in racing and hold the betting license in every state except Western Australia.<\/p>\n<p>&#8220;This was a major reason why I accepted the position. There&#8217;s a lot of potential in the future, and I&#8217;m eager to lead the sports category, as well as other areas.<\/p>\n<p>&#8220;Tabcorp is in the midst of a significant transformation. I&#8217;m excited to collaborate with the leadership team to capitalize on the growth opportunities.&#8221;<\/p>\n<p>Ahern added, &#8220;Since the company split two years ago, we&#8217;ve made substantial improvements to customer service and made significant changes in Queensland and Victoria.&#8221; <\/p>\n<p>Tabcorps journey to transformation is far from finished, and I&#8217;m happy Gill is joining the team to keep pushing for progress and expansion.<\/p>\n<p>Tabcorp is aiming to enhance its first-half performance, with McLachlan assuming the role of CEO following a challenging initial period for the company. Income decreased by 5.1% to A$1.21 billion in the six months ending December 31, with both core operations experiencing a downturn.<\/p>\n<p>Betting and media revenue dipped by 4.2% to A$1.12 billion, reflecting a contraction in the overall wagering market.  Within this sector, media and international revenue also experienced a decline of 5.4%.<\/p>\n<p>In gaming services, revenue dropped by 14.5% to A$93 million. Tabcorp attributed this to the impact of the sale of eBet and Max Performance Solutions.<\/p>\n<p>Furthermore, increased expenses posed a challenge, with the primary issue being an impairment charge of A$852 million. This, coupled with the revenue decrease, resulted in a net loss of A$641.7 million, a stark contrast to the net profit of A$53.2 million in the previous year. EBITDA also experienced a decline of 34.7% to A$131.7 million.<\/p>\n<p>However, there were some positive developments in the first half. In September, Tabcorp settled a tax dispute with the Australian Taxation Office, with the company set to receive a tax refund of A$83 million.<\/p>\n<p>Regulatory Matters: A Mixed Picture<br \/>\nTabcorp has also encountered a significant number of regulatory issues over the past year.  Most recently, last week, it was ordered to pay A$370,417 in Victoria after admitting guilt to 43 charges of failing to prevent underage gambling. <\/p>\n<p>The Victorian administration has recently taken steps against underage gambling and loose rules surrounding electronic betting terminals (EBTs). In September, the Victorian Gambling and Casino Control Commission (VGCCC) accused Tabcorp and numerous locations of underage gambling. These infractions took place between September 2022 and October 2023.<\/p>\n<p>Tabcorp has been charged with 72 violations. If found guilty, the operator could face a combined penalty of up to $1 million. Tabcorp could face a penalty of up to $969,236.<\/p>\n<p>The case has also resulted in other actions against Tabcorp in Victoria. In January, the VGCCC ordered Tabcorp to make the majority of its EBTs cashless in the state. This was a direct response to the underage gambling occurrences.<\/p>\n<p>In addition to the underage gambling case, the VGCCC also fined Tabcorp a record $1 million for its behavior during a significant system failure in 2020. Tabcorp&#8217;s betting and gaming systems crashed on November 7, 2020, during that year&#8217;s Spring Racing Carnival.<\/p>\n<p>On the other hand, Tabcorp was granted exclusive rights to provide betting and gaming services in Victoria in December, for a period of 20 years. Tabcorp&#8217;s license term begins in August 2024, following the expiration of its current exclusive license.<\/p>\n<p>Moreover, last week the New South Wales (NSW) government declared that it would consider Tabcorp&#8217;s proposal to increase the state&#8217;s point-of-consumption tax (POCT) to 20%. <\/p>\n<p>Gaming companies in New South Wales, Australia, presently contribute a 15% levy on gambling revenue. Tabcorp has urged the authorities to increase this tax to 20%, bringing it in line with other regions.<\/p>\n<p>Tabcorp&#8217;s proposition also incorporates other recommendations concerning gambling regulations and licensing adjustments. These recommendations include a pact with the horse racing sector and a 10% ownership limit. The government will assess these recommendations as part of a broader potential overhaul in New South Wales.<\/p>\n<p>Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tabcorp has declared that Gillon McLachlan, the previous leader of the Australian Rules Football League (AFL), will be their new chief executive. He will commence on August 5th, once he secures the required authorizations. McLachlan has been the head of the AFL for a decade. During his tenure, he expanded the league to 18 teams [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AFL Boss McLachlan Joins Tabcorp as CEO<\/title>\n<meta name=\"description\" content=\"Gillon McLachlan, former AFL CEO, is set to become the new chief executive of Tabcorp, starting August 5th. 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