Tabcorp chief executive Adam Rytenskild has blamed inflation, interest rates and the NSW and South Australian governments for a $732 million cash impairment that drove a share price decline of more than 14 per cent.
Mr Rytenskild said the tax rates that Tabcorp paid in NSW were unsustainable and needed to be resolved as “a matter of urgency” after the company posted a $637 million loss for the six months to December 31.
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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
