Tabcorp CEO Backs Australia Gambling Ad Reforms
Tabcorp Holdings chief executive Gillon McLachlan has described Australia's newly approved gambling advertising reforms as a “sensible set of reforms” that the wagering group is well placed to absorb, speaking to investors as Tabcorp posted AU$2.6 billion in revenue for its 2026 financial year.
Speaking after Tabcorp published its FY26 results, McLachlan told ASX investors that the changes to the 2001 Interactive Gaming Act target areas that “they should,” protecting vulnerable customers while still allowing operators to promote responsibly.
“In a relative sense, I think we're very well positioned, with 3,500 retail outlets, with Sky Media, with a set of assets that are clear and established both in racing and in sport,” he said, adding that Tabcorp already meets the majority of the recommendations.
His comments contrast with those of Responsible Wagering Australia chief executive Kai Cantwell, who last week criticised the reforms, particularly a planned opt-out service for online advertising, along with the Greens, independent MPs, and some government backbench MPs, who say the changes fall short.
FY26 Numbers
Tabcorp's revenue for the twelve months to June 30, 2026, grew 0.8% to AU$2.6 billion.
Statutory net profit rose 26.5% to AU$46.3 million, while EBITDA climbed 10.3% to AU$431.7 million from AU$387.3 million, against operating expenses of AU$700.7 million and capital expenditure of AU$140.1 million.
Group net debt fell AU$76.3 million to AU$533.1 million. Fixed-odds sports and racing revenue rose 8%, McLachlan said, while parimutuel betting, roughly a third of the business, continued to decline by “roughly 5% or 6%” year over year.
Retail Push And Compliance Costs
Chief financial officer Mark Howell said Tabcorp expects its retail network, where 97% of its 3,500 venues now run under a new commercial model, to deliver an EBITDA benefit by FY27, with retail betting turnover during the World Cup up 57%.
Tabcorp also disclosed a “risk modifier” that cut McLachlan's short-term incentive by 20 percentage points after “regulatory and compliance matters during the year,” a reference to an anti-money laundering and counter-terrorism financing investigation opened by the Australian Transaction Reports and Analysis Centre in May.
His FY26 pay totalled a AU$1.46 million salary and a AU$799,500 bonus.
What Comes Next?
The advertising reforms are expected to take effect in January.
Tabcorp is also waiting on the full rollout of a live wagering product cleared by the Australian Communications and Media Authority earlier this year, which McLachlan said should drive further growth once it goes live.
The group remains Australia's largest wagering operator by retail footprint, competing with Entain, Flutter Entertainment and bet365 for market share.
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