The Tabcorp Holdings Limited (ASX: TAH) share price is up after it made a pleasing announcement.
Tabcorp is a gambling business made up of three key business channels: Wagering & Media, Lotteries & Keno, and Gaming Services.
Tabcorp’s Pleasing Police News
Tabcorp said that today is has been advised for the Australian Federal Police (AFP) that it has closed its investigation into the Cambodian matter (from 2009 to 2010) and that it is not intending to take any action in regards to this.
The gambling business said that it co-operated with the AFP throughout the investigation and welcomes the conclusion of this matter.
At the time it cost the former CEO, Mr Funke Kupper, his job at the gambling business. He quit after the police investigated a $200,000 payment made to the family of the Cambodian Prime Minister Hun Sen.
Despite this positive news, I’m not sure about the long term growth prospects of the gambling business, I’d prefer to invest in the growth shares in the free report below instead.
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.