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December 7, 2009

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Smoking ban hurts operator

Friday, Oct. 25, 2002 | 11:17 a.m.

SYDNEY, Australia -- Tabcorp has warned that its gaming revenue might take a $40 million (Australian) hit this year if the downturn following the recent introduction of smoking bans in the state of Victoria persists, the Sydney Morning Herald reported.

The smoking restrictions introduced last month reduced gaming revenue 6.6 percent and are predicted to result in a 3.2 percent annual decline, the company said, the newspaper reported.

Despite this, the gaming and wagering group provided a robust assessment of its outlook for the 2003 fiscal year during its annual meeting in Melbourne this week, the newspaper said.

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