IN nine months, Tabcorp boss Elmer Funke Kupper will give up what he loves doing most.
Running the casino, wagering and gaming business.
He will have steered the company into two separately listed entities -- the casino business with revenues of $1.3 billion and the wagering and slot-machine business with revenues of more than $2.8bn.
Mr Funke Kupper has manoeuvred himself out of the chief executive role only to return six months later to become a board director of the revamped Tabcorp. Tabcorp chairman John Story said yesterday: "Let me assure you, it was a mutually agreed decision."
Mr Funke Kupper said: "I love what I'm doing, but you have to do the right thing and move on."
The wagering business will be run by David Attenborough, a newcomer who joined Tabcorp in May this year. Mr Attenborough was chief executive of Prumelela Gaming and Leisure, a leading operator in South Africa, and worked for Britain's Ladbrokes.
Sportingbet chief executive Michael Sullivan said: "Attenborough comes with a strong wagering and gambling background, which will see him in good stead."
He said he was not surprised by the split of Tabcorp's businesses.
Tabcorp's casino operations will be run by Larry Mullin, an American with 20 years' experience who came here to work in Sydney's Star City casino less than two years ago.
Racing Victoria chief executive Rob Hines said he was impressed with both Mr Mullin and Mr Attenborough, who he considered competent and experienced operators.
"They both have good knowledge of their business, are very capable and sensible. Now they have a much bigger job in running a listed company," Mr Hines said.
Casino analyst Greg Fraser of Fat Prophets said the market would probably remain neutral about Mr Mullin's appointment until the $960 million redevelopment of Star City Casino pays off.
Mr Fraser said Mr Attenborough would probably have more on his plate, as wagering was a messy business complicated by online betting and competing state regulations and licences.
Another analyst, who declined to be named, said both Mr Mullin and Mr Attenborough were "very good at running their business and are backed by strong chief financial officers". "Mullin lives his business and is very good at generating revenue. Attenborough is more reserved, but equally knowledgeable about the wagering business," the analyst said.
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