The Melbourne-based TabCorp has come a long way since its racing start. Originally a service for betting on horses and dogs, the company was privatised by the government of Victoria and has since acquired casinos, gaming machines and TAB Limited in New South Wales. Now it seems that the company finds the racing scene in Victoria and New South Wales to have less of a house advantage.

Although racing still gets substantial financial support from the TAB, through strong government support in the past, the industry now must pay a fee to the TAB on its retail outlets. The present relationship between the two was recently likened to a loveless marriage, in an article by Bill Saunders in Cyberhorse, where alimony payments are being made by one partner who has left for another, more exotic, relationship.

Of course, the exotic usurper is the casino industry and its blandishments are now tempting Tabcorp to further adventures in foreign climes. The company has announced that it will make a bid to build a $2 billion casino resort in Singapore, joining giants of the industry such as Wynn, Kerzner and MGM Mirage who have already declared their interest in the contest. Should Tabcorp be successful, it would be the company’s first venture outside Australia. Kerzner International and MGM Mirage have teamed up with local property developer CapitaLand in Singapore for their projects on Sentosa Island and Marina Bay. Tabcorp has had discussions with several local parties but at the moment is going it alone, as is Wynn. Submissions must be made before the end of this month and the concepts must be for an integrated resort with a casino just part of the whole tourist offering. The Tabcorp concept apparently includes luxury hotels, a theme park, restaurants and retail outlets, and the development would be capable of hosting world-class events.

Managing Director and CEO, Matthew Slatter, has said that there is the opportunity for the company to create a stunning and iconic resort, and that Singapore could become the Asian base for Tabcorp. The company maintains that it is the fourth-largest gambling and entertainment business worldwide, but how it would measure up in a tender with concept experts such as Kerzner and Wynn is uncertain. At present Tabcorp manages casinos and entertainment venues that include Star City in Sydney, Conrad Jupiters on the Gold Coast, Jupiters in Townsville and Conrad Treasury in Brisbane. (E-02.18.05)

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