Gillon McLachlan will move from running a sporting code where the revenue topped $1 billion to overseeing a gaming company with its share of challenges.
You’d think that appointing former AFL boss Gillon McLachlan – the closest thing Australia’s southern states have to corporate royalty –McLachlan will move from running a sporting code with a hurricane-powered revenue tailwind to a company employing maximum thrust just to offset structural and cyclical headwinds.Ask any chief executive about running a monopoly – it is a licence to make money.
Tabcorp’s historical roots lie in the state-based monopoly TAB betting shops that previously dotted the suburbs and pubs. But these were disrupted years ago when online corporate bookmakers entered the market and ate a large slab of Tabcorp’s lunch. But primarily, leading Tabcorp is a gig that demands, in large part, a technology and regulatory skill and the ability to navigate a fierce and fluid competitive landscape.has honed some significant skills in dealing with sporting rights, which will come in handy at Tabcorp. It has a large media business that creates racing content that is distributed through its 4000 retail venues, its Tabcorp app, the Sportsbet app and on Foxtel.
But shareholders appear not to share that ebullient enthusiasm if the dip in the share price is any gauge.
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