Tabcorp welcomes end of AFP investigation

Australian Federal Police have closed an investigation into Tabcorp over allegations the betting and gaming giant was involved in bribery in Cambodia.

The AFP began investigating Tabcorp in 2016 over allegations it made a payment of $200,000 to a business linked to family of Cambodian Prime Minister Hun Sen.

Tabcorp said at the time it had explored a business opportunity in Cambodia but did not proceed.

“Tabcorp has been advised today by the Australian Federal Police that it has closed its investigation into the Cambodian matter and that it is not intending to take any action in respect of this matter,”¬†Tabcorp said on Wednesday in a statement to the ASX.

“Tabcorp has co-operated with the AFP throughout the investigation and welcomes the conclusion of this matter.”

Tabcorp, under then chief executive Elmer Funke Kupper, explored a business opportunity in relation to the Cambodian sports betting market in 2009 Рwhen some Asian countries were considering deregulating sports betting.

The business was never operational but Mr Kupper, whose tenure as CEO ended in 2011, took a leave of absence from the Tabcorp board and stepped down as CEO of the Australian Securities Exchange following the allegations.

AAP

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