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Here’s Why The Tabcorp (ASX:TAH) Share Price Is Up

Jaz Harrison
Jaz Harrison
Jaz Harrison

Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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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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