TABCORP UNHAPPY WITH ONLINE ACTION
14 August 2009
CEO wants government intervention
The CEO of one of Australia's biggest betting outfits,
Elmer Funk Kupper of Tabcorp, wants the territorial
governments to reform regulation and tax measures to
create more revenue for the racing industry and and make
it easier for companies such as his to compete with
online offerings.
Kupper told ABC Television that
at present bookmakers can operate from a state or
territory outside NSW and Victoria, where Tabcorp
operates the TAB, offering products online without
paying the same taxes or fees.
"If you look at
the business that we operate in Victoria and NSW, they
are actually significantly disadvantaged because the new
players over the internet arbitrage significant tax and
fee advantages that we don't have," Kupper said in an
interiew. "All we are saying is, can we get the rules to
be the same."
Corporate bookmakers operating
outside NSW and Victoria were not contributing enough to
the racing industry in fees, Kupper added.
"Last
year we paid some $540 million to the racing industry.
The bookmakers paid almost nothing," he said, suggesting
that territorial governments should step in to ensure
that everyone contributed equally.
"You put that
in place you can have a competitive wagering market and
a well funded racing industry and that's our argument,"
he said.
Despite his comments, Tabcorp has set up
its own bookmaker in the Northern Territory to take
advantage of the loopholes its competitors were using,
the Brisbane Times reported. The company was also
offering more fixed odds, rather than through TAB's
totalising system, to help maintain profit, Kupper
confirmed.
"We are in part participating in that
trend because we can't wait for governments to get the
rules right in the next three to five years, if at all,"
Kpper concluded.
Online Casino News Courtesy of
Infopowa
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