I confess to watching too much sport over summer. First, a cricket season that started to bore and now the gripping Australian Open tennis. Soon, it will be rugby’s turn.
Sadly, watching televised sport means being bombarded by betting ads. And from a stock market perspective, regular reminders about the challenges facing Tabcorp Holdings (TAH) from an onslaught of online gaming services that are disrupting global wagering.
Tabcorp provides wagering and media services through its totalisator, fixed-odds betting and retail wagering networks (42% of FY19 revenue); lotteries and Keno in most Australian states and territories (52% of revenue) after its 2016 acquisition of Tatts; and gaming support services to more than 3,500 venues nationally (6%).