Tabcorp fined A$16,500 for illegal promotion

Wagering operator Tabcorp has been fined A$16,500 (US$12,600) and ordered to pay legal costs of A$100,000 for publishing illegal advertising in NSW, local media reports.

The verdict was delivered on Tuesday by the Downing Centre Local Court in Sydney, which found Tabcorp guilty of offering inducements to potential punters to participate in gambling or to open a betting account.

In the sentencing hearing, Magistrate Susan McIntyre imposed the maximum penalty of A$5500 for each of the three offences, adding that a strong message needed to be sent to other gambling companies.

Last week, Tabcorp posted narrowed net profit for the first half of the 2017 financial year, down 28.1 percent to A$58.9 million. Total revenue for the half year was A$1.2 billion, up 2 percent year-on-year.