05 December 2005

Bleeding Tabcorp threatens to ditch wagering

CEO Matthew Slatter said at Tabcorp's AGM in Sydney this week he "would consider dumping licences, which accounted for more than 30 per cent of its annual revenue, if the government tried to force up the renewal price." ... Hurt by the loss of Sydney and Melbourne broadcast rights, "TabCorp shares fell 80 cents or almost 5 per cent following the AGM's disappointing forecast, wiping more than $400 million from the company's market worth."

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