11 stories mentioning ASX:TAH
Every FINWIRES story that references ASX:TAH, newest first.
Tabcorp Holdings (ASX:TAH) said that Aware Super became a substantial holder of the firm as of June 5, after acquiring 5.17% voting power, according to a Friday Australian bourse filing.Aware Super is the beneficial owner of 115.9 million FPOs in the firm, while Aware Financial Services Australia is the beneficial owner of 2.5 million FPOs.
Tabcorp Holdings (ASX:TAH) has an average rating of hold and mean price target of AU$1.01, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Tabcorp Holdings (ASX:TAH) said L1 Capital acquired about 123.3 million of the company's ordinary shares, representing a roughly 5.4% stake, according to a Friday filing with the Australian bourse.
Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Tuesday.Arafura Rare Earths (ASX:ARU): 41.2 million sharesPredictive Discovery (ASX:PDI): 37.4 million sharesTabcorp Holdings (ASX:TAH): 13.8 million sharesTelstra Group (ASX:TLS): 8.9 million sharesLindian Resources (ASX:LIN): 7.7 million shares
Tabcorp Holdings (ASX:TAH) is set to face a range of possible outcomes from a new investigation into money-laundering risks, and the probe will likely remain an overhang for an extended period of time, Jefferies said in a Thursday note.The Australian Transaction Reports and Analysis Centre (AUSTRAC) is probing the company's compliance with anti-money laundering and counter-terrorism financing obligations, citing concerns about the wagering operator's ability to identify and mitigate risks."Precedent gaming sector Austrac investigations have been long-dated, costly, and have had significant operational impacts," the equity research firm said, adding that prior probes show the risk can extend beyond punitive fines to operating earnings.Jefferies expects the investigation to focus on retail gaming, given the recent regulatory scrutiny around slots and casinos and the revival of retail turnover at Tabcorp. It noted that monitoring a retail network of 3,700 locations could be cumbersome and costly.Tabcorp's operating leverage "has been a core reason for our positive thesis, however in any escalation of the investigation, this could see material operating deleverage," Jefferies said.It downgraded its rating on the company to hold from buy while cutting the price target to AU$0.93 from AU$1.25.Tabcorp shares fell 14% in recent Friday trade.
Tabcorp Holdings (ASX:TAH) likely faces remediation costs in a new regulatory enforcement investigation, and repeat offender status is also a risk, but neither of those factors justifies the magnitude of the sell-off in the company's stock, Jarden said in a Thursday note.The Australian Transaction Reports and Analysis Center (AUSTRAC) is investigating the company's compliance with anti-money laundering and counter-terrorism financing obligations, citing concerns about its ability to identify and mitigate risks.Jarden noted there is no certainty of a financial penalty as the regulator's disclosure stated that all outcomes are on the table, while previous cases show that a zero-penalty result is possible when the regulator is satisfied with cooperation.AUSTRAC's previous gambling sector penalties have ranged from zero to AU$450 million, the equity research firm said, adding that it views top-line implications for Tabcorp as limited.The company's shares fell sharply after the disclosure of the probe, and at those levels, "the stock appears to be factoring a cost impost well in excess of what the precedent set supports," Jarden said.It maintained an overweight rating on Tabcorp with a target price of AU$1.05, saying it will revisit those assessments if Austrac files civil penalty proceedings or Tabcorp takes on provisions related to the case.The company's shares fell 13% in recent Friday trade.
Tabcorp Holdings' (ASX:TAH) credit rating is not expected to see an immediate impact from an early-stage enforcement investigation launched by the Australian Transaction Reports and Analysis Centre (Austrac), Fitch Ratings said Friday.The regulator is probing the company's compliance with anti-money laundering and counter-terrorism financing obligations, citing concerns about the wagering operator's ability to identify and mitigate associated risks.Austrac could decide against any further action on Tabcorp, but any enforcement might lead to civil penalties, legal costs, or remediation expenses that would impact the company's financial profile, Fitch said. Enforcement action could also point to governance deficiencies that would be relevant to the rating."Tabcorp's financial profile is currently strong for the rating, which provides the capacity to absorb moderate additional costs, if required," the ratings agency said, adding that it does not currently have sufficient information to evaluate the scale or likelihood of the investigation's outcome.Fitch noted, however, that the development does add to wider regulatory scrutiny of Australia's gaming and wagering sector, which may increase compliance costs for operators across the space.Tabcorp's shares fell nearly 13% in recent Friday trade.
Australian shares rose on Thursday amid reports that an agreement was close on a one-page memorandum to formally end the conflict in the Middle East.The S&P/ASX 200 Index rose 0.96%, or 84.50 points, to close at 8,878.10.Iran said it was reviewing the peace proposal put forth by the US, Reuters reported.Brent crude oil futures were trading around $102 per barrel. Iron ore futures rose over $111 after several months, while gold traded for about $4,700 per ounce.On the domestic front, Australia's goods balance recorded a seasonally adjusted deficit of AU$1.84 billion in March, down from a surplus of AU$5.03 billion in February, marking the first deficit since December 2017, according to data published by the Australian Bureau of Statistics.The value of new payment platform transactions in Australia rose nearly 26% to AU$241.2 billion in March, compared with AU$186.6 billion reported in the same period last year, according to the Reserve Bank of Australia.Australian card activity showed an emerging slowdown in discretionary spending, with the Westpac-DataX Card Tracker Index rising 2.1 points over the two weeks to April 25, reversing an earlier decline.In company news, Tabcorp Holdings (ASX:TAH) said Austrac launched an enforcement investigation after raising "serious" concerns about the company's ability to manage its money laundering and terrorism financing risks.The company said the investigation will initially focus on evaluating its compliance with its obligations under the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act. Its shares retreated 22% at market close.Light & Wonder (ASX:LNW) reported first-quarter adjusted earnings of $1.45 per share, up from $1.35 a year earlier. Revenue for the three months ended March 31 was $790 million, compared with $774 million a year earlier. Its shares closed down 8%, earlier reaching a two-year low point.Lastly, Orica (ASX:ORI) reported fiscal first-half adjusted earnings of AU$0.60 per share, compared with AU$0.533 a year earlier. Sales revenue for the six months ended March 31 was AU$3.88 billion, compared with AU$3.94 billion a year earlier. Its shares rose 5% on market close.
Tabcorp Holdings (ASX:TAH) said Austrac launched an enforcement investigation after raising "serious" concerns about the company's ability to manage its money laundering and terrorism financing risks, according to a Thursday Australian bourse filing.The company said the investigation will initially focus on evaluating its compliance with its obligations under the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act, including having a compliant AML/CTF program, complying with that program, and appropriately monitoring customers.Austrac advised that its investigation is at an early stage, and its approach will be determined once sufficient evidence has been collected and assessed, with all potential outcomes remaining open, including the possibility that no further enforcement action will be taken, the company added."Tabcorp takes its anti-money laundering and counter-terrorism financing obligations very seriously. The Board and Executive are fully committed to collaborating with Austrac in the continuing uplift in Tabcorp's ML/TF risk maturity," said Tabcorp Chairman Brett Chenoweth.The company's shares tumbled 27% in recent Thursday trade.
Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Friday.Zip (ASX:ZIP): 41 million sharesArafura Rare Earths (ASX:ARU): 39.5 million sharesCore Lithium (ASX:CXO): 37.2 million sharesDateline Resources (ASX:DTR): 32.9 million sharesTabcorp Holdings (ASX:TAH): 15.2 million shares
Tabcorp Holdings (ASX:TAH) said Australian Retirement Trust has ceased to be a substantial holder in the company on April 13, according to a Wednesday Australian bourse filing.The company's shares fell 2% in recent Wednesday trade.