Australia's Tabcorp fined over gambling regulation breaches in Victoria (updated)

Tabcorp Holdings

23/08/2024 05:10

(Updates with further details and background from paragraph 3
onwards)
       Aug 23 (Reuters) - Australian wagering business Tabcorp
 TAH.AX  has been forced to pay a fine of A$4.3 million ($2.89
million) over repeated breaches of gambling harm prevention laws
between 2020 and 2023, the Victorian Gambling and Casino Control
Commission said on Friday. 
    Tabcorp will pay the fine after investigations by the
commission showed several instances of non-compliance with
regulatory obligations by the firm, coming at a time when
Tabcorp has been advocating for a total ban on gambling
advertisements.  
    The commission in a statement said that the A$1.31 billion
ASX-listed business had breached gambling harm minimisation laws
on nine occasions over the three years. 
        "Tabcorp’s breaches reflect systemic operational
deficiencies and non-compliance with the conditions of its
licence, the consequences of which have included significant
harm to a customer," said commission chair Fran Thorn. 
  
        Tabcorp did not immediately respond to a Reuters request
for comments. 
  

($1 = 1.4890 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by
Nivedita Bhattacharjee)
 ((Rishav.Chatterjee@thomsonreuters.com;))