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Tabcorp & Racing Vic Align Against Gambling Report
Wagering giant Tabcorp "has slammed key aspects of the Productivity Commission's report into gambling," noted The Herald-Sun. Tabcorp chief executive Elmer Funke Kupper "focused his criticism on the recommendation for a revenue-based product fee funding model - along the lines of Racing Victoria's model - and the call for a probe into Tabcorp's ownership of Sky Racing". The Productivity Commission's 1,100-page report said the TAB's retail exclusivity "represents a rare privilege & should not be renewed". Tabcorp, however, has "an unlikely ally in Racing Victoria, which opposes the recommendation on retail exclusivity". RV chief executive Rob Hines declared: "We've done all the numbers. We (the racing industry) will be in dire straits without the TAB's retail exclusivity. We wouldn't be able to react quickly enough to the loss (of income). We would urge the Government not to implement it." And Kupper said the Commission's stance on racing & wagering "shows a serious lack of understanding of these industries, both in Australia & around the world. The Productivity Commission essentially advocates a contraction of the Australian racing industry. It would achieve this if its recommendation to implement a UK-type funding model were to be adopted. The Australian industry is performing infinitely better & following in the path of the UK would be very unwise."