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Horse flu to cost Tabcorp $500 million

29 Oct 2007

AUSTRALIA -- As reported by the Daily Telegraph: "Tabcorp Holdings boss Elmer Funke Kupper expects the horse flu outbreak to cut approximately $500 million from the gaming company's turnover.

"Mr Funke Kupper said yesterday that Tabcorp's turnover was down around $240 million since the start of the outbreak.

"And the company is expected to lose as much as half a billion dollars in revenues by the end of the crisis, slicing around $30 million from pre-tax profits.

"...He added that Tabcorp is not thinking about suing for damages right now, although other people in the industry are looking at their legal options.

"...Tabcorp is grappling with the fallout from the horse flu outbreak in the midst of the spring racing season..."

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