Gillon McLachlan’s Tabcorp is looking to end decades of racing tradition by shutting down on-course totes as well as slashing funding for radio station RSN 927.
Racing clubs across Victoria are bracing for the Gillon McLachlan-led Tabcorp to start shutting down on-course tote facilities at the end of the spring carnival.
The gambling company is also renegotiating its sponsorship of RSN 927 in a move that could have a significant impact on the day-to-day operations of the industry-owned radio station. McLachlan was long touted as the next chairman of an unsettled Racing Victoria board before he withdrew his nomination in June to become the new managing director and chief executive officer of Tabcorp. He officially started in the position on Monday.Because most recreational punters now bet on their mobile phones, face-to-face on-course operations have long been seen as a loss-making channel for Tabcorp, despite being one of the few options for gamblers to place cash bets.
Morrison, who is also RV’s chief commercial operator and chief financial officer, has been at the forefront of discussions with Tabcorp and race clubs about life after the joint venture. In December last year, Tabcorp announced it had retained the sole rights to operate betting in Victoria’s TABs, pubs and clubs for the next 20 years, in a deal with the Victorian government worth more than $860 million.
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