The gambling giant sees its share price slump as the market regulator responds to its chief executive’s sudden exit over allegations of a sexually inappropriate remark.
Tabcorp’s share price has fallen by 5 per cent after investors were blindsided by the resignation of its chief executive, Adam Rytenskild, after he allegedly made a sexually inappropriate comment about a Victorian regulatory official earlier this year.
“The commission acknowledges the resignation of Tabcorp’s CEO following allegations of inappropriate comments”, Thorn said. Two sources with knowledge of the complaint who were not authorised to speak publicly said the comment had been allegedly made in jest about a senior official within the Victorian-based gaming regulator during the negotiations for the Victorian wagering licence earlier this year. The official in question was not present when the alleged comment was made.
In a statement to the ASX, Tabcorp said the alleged comments were “inconsistent with Rytenskild’s continued leadership of the organisation”.
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