Tabcorp Holdings Ltd’s
(ASX:TAH) net profit fell by 49.3% for the full-year ended 30 June 2016 (compared to its previous year’s result).
Tabcorp recorded $169.7 million in net profit, and this decline was due to the costs of defending a court case, and establishing Sun Bets, its new online wagering and gaming business in the UK.
The ongoing court case against Tabcorp is a civil penalty action brought by the Federal government agency, AUSTRAC.
AUSTRAC alleges that Tabcorp engaged in “
extensive, significant and systemic non-compliance with Australia’s money laundering and counter-terrorism financing legislation”.
Tabcorp says it will pay a final dividend of 12 cents per share, fully franked, to its shareholders on 20 September 2016.
