Deals
Death, Taxes and Australian Gambling
Tabcorp's $4.9 billion purchase of Tatts gets it a utility.
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Amid the frayed nerves over the detention of 18 Crown Resorts employees in China, you could be forgiven for thinking that Australians spend most of their gambling dollars in casinos.
In fact, close to two-thirds is fed into slot machines, a ubiquitous presence in pubs as well as sports and veterans' clubs in most states of the country. Just 3.4 percent of gambling losses in 2010 were from VIP gamers, the high-rolling international casino players allegedly targeted by Crown's staff in China1476834139970.