Tabcorp to shutter online gambling subsidiary

Australian gambling giant Tabcorp has told local media outlets that it intends to shutter its online gambling enterprise Luxbet following its merger with Tatts.

The decision was confirmed by player reports on Friday that they had received emails advising that bets will no longer be accepted after December 22. Account holders have until January 19 next year to withdraw any positive balances in their accounts.

Our readers may recall that in August this year Tabcorp carried out a review of Luxbet, which has reportedly concluded that the business has not met expectations and should be closed. The business has been operational since 2008.

Tabcorp financial reportage for last year disclosed that Australia and UK-facing Luxbet had made annual losses of A$13 million.