UNiTAB Chair: Gaming Must Look Outside Sector

AUSTRALIA – As reported by the Australian Associated Press: "Australia's gaming industry will have to look to new avenues outside of the sector if it is to grow, UNiTAB Ltd chairman George Chapman said.

"Mr Chapman's comments followed the announcement of a proposed merger between Queensland's UNiTAB and its New South Wales counterpart Tab Ltd, creating the second largest gaming company in Australia after Victoria's Tabcorp Holdings Ltd.

"Mr Chapman, who was honoured in Brisbane for his contribution to business in the state, has chaired UNiTAB (formerly TAB Queensland) since July 1999, overseeing its privatisation and listing on the Australian Stock Exchange.

"Under his stewardship, and that of managing director Dick McIlwain, the company's share price has risen from approximately $2 to $7.

"But for Mr Chapman, such stellar growth would have been almost impossible to maintain without venturing into new avenues of operation.

"…Mr Chapman said apart from the `possibility' of further consolidation with Victoria's Tabcorp Holdings, he could not see much more room for manoeuvre in the gaming industry in Australia…"