Fresh from the blow of the government’s reorganisation of the pokies market in Victoria, Tabcorp is looking to the future with an application to run a horseracing and sports-betting service in Northern Territory.

Fresh from the blow of the government’s reorganisation of the pokies market in Victoria, Tabcorp is looking to the future with an application to run a horseracing and sports-betting service from the Northern Territory.

Trading in shares of leading Australian gaming companies Tabcorp and Tattersall’s was halted yesterday after Victorian Premier John Brumby announced that both would lose their exclusive licences to operate nearly 30,000 machines in Australia’s second largest state. Clubs and pubs will now own and operate machines directly, leaving the two companies to fight over wagering and keno licences ahead of the new machine regime coming into effect in 2012.

Tabcorp’s half-year results were lifted by growth at the group’s wagering division as the company remained cautious in an evolving regulatory environment Down Under.

The chief executive of Australian gaming firm Tabcorp has railed against the increase in costs caused by unwelcome state government and racing industry actions in Queensland and Victoria as the company announced a A$300m fundraising and a continued dividend cut as it attempts to boost its cash reserves.

Victoria’s gaming and racing lawmakers celebrated Tuesday’s prestigious Melbourne Cup race by announcing a 60 percent cut in state wagering taxes to be implemented within four years. The tax cut comes as a taster of the wholesale reforms in Victorian gambling regulation that will take effect from 2012, which will include a state betting exchange product being introduced under a new wagering licence.

Betfair’s High Court challenge to Western Australia’s prohibition of betting exchanges concluded yesterday. With the licensing and regulation of exchanges a hot political topic in other Australian states, the Court’s decision on Betfair, will be eagerly awaited.

The Tasmanian Government has added to debate surrounding future funding models for the Australian racing industry by stating that its own ‘race fields’ laws will fix charges according to gross wagering revenues, as favoured by corporate bookmakers and Betfair, rather than on turnover as in Victoria and New South Wales and backed by Tabcorp.

Australian betting and casino operator Tabcorp, which is currently heading the running in the race to buy Tote Tasmania, has bounced back into profit following the write-offs last year related to the changes announced last year to the ‘pokie’ license regime in Victoria.

Australian gaming giant Tabcorp Holdings has said a Victorian state government decision to hike the annual levy on electronic gaming machines came without consultation and is badly timed for the industry.