Tabcorp: To Sell Luxbet Or Not To Sell It?
Tabcorp, the Australian online casino operator, is now debating whether to sell one of their brands – Luxbet or not. In the event that the company decided to sell one of their brands, the net question will be whether to sell it to an international corporate bookmaker or to close down the business? This is such a hard decision for them to make. Read on and learn more below.
The financial review in Australia reported that Tabcorp is currently weighing the advantages and the disadvantages of putting Luxbet on the chopping board. According to the media, David Attenborough, the chief executive officer of Tabcorp, said that they now have the strategic review. More so, he said that they are still weighing their options and will see what do next.
Tabcorp – Evolution of Luxbet
Tabcorp created Luxbet in 2008 and has its headquarters in Darwin. The online casino business has also provided casino players to also wager on non-sport and racing competitions like elections and other entertainment activities.
Not so long ago, Attenborough hinted that some Aussie casino brands would be saying goodbye as a result of their pending merger with Tatts Group. Apart from Luxbet, Attenborough also announced the possible shutdown of one of Tatts’ brands, UBET.
If the merger of the two online casino gambling operators becomes a success, Tabcorp will have some of its casino brands operating in Tatts markets like South Australia and Queensland. However, in these states, trouble might follow Tabcorp because, in these areas, their advertising restrictions will be widened.
Currently, it is still not clear whether Tabcorp will sell Luxbet or not. They are still looking at the pros and cons of the issue. However, we will do our best to keep online casino players in NZ posted on the latest updates regarding the matter.