Stock of the day: what Gillon McLachlan's appointment means for Tabcorp
Tabcorp (ASX: TAH) appoints former AFL chief executive Gillon McLachlan as the new CEO. Analysts suggest a wait-and-see approach as the company undergoes transformation amidst regulatory challenges and growing competition.
[AI generated]
Stock of the day: Tabcorp (ASX: TAH)
CEO's surprising appointment
Tabcorp, a gambling company, recently appointed former AFL chief executive Gillon McLachlan as its new CEO. McLachlan's leadership in sports is seen as a significant asset amidst the company’s ongoing transformation and rising international competition. Despite this, Tabcorp’s share price dipped by 1% to $0.65 in a generally flat market.
Analysts' perspective
Analysts remain cautious about Tabcorp's near-term prospects, given the company’s underperformance, regulatory pressures, and intense competition. They have recommended a wait-and-see approach, highlighting that Tabcorp is still in a transition phase. There is also a notable suggestion to switch investments from Tabcorp to PointsBet, a competitor viewed as having a more favourable investment case.
The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.
Explore the markets with our free course
Learn how shares work – and discover the wide range of markets you can trade CDFs on – with IG Academy's free ’introducing the financial markets’ course.
Put learning into action
Try out what you’ve learned in this shares strategy article risk-free in your demo account.
Ready to trade shares?
Put the lessons in this article to use in a live account – upgrading is quick and easy.
- Trade over 12 000 popular global stocks
- Protect your capital with risk management tools
- React to breaking news with out-of-hours trading on 70 key US stocks
Inspired to trade?
Put your new knowledge into practice. Log in to your account now.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
