Business
Tabcorp seeks $600m as wagering falls – Racing.com
Betting giant’s gaming, wagering and media arms take a battering amid pandemic
Tabcorp’s gaming, wagering and media arms have taken a hit as the betting giant launches a bid to raise $600 million in capital.
The capital-raising comes on the back of falling profits as Tabcorp has so far struggled to transition enough of its customers from retail to digital betting during the COVID-19 pandemic.
The release of Tabcorp’s annual report on Wednesday shows that its Lotteries and Keno business has grown while the Gaming, Wagering and Media arms are in decline.
Outgoing Tabcorp …
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