One Less Headache for New TAB Chief Executive

Incoming Tabcorp CEO Gillon McLachlan has avoided a legal setback after Racing NSW agreed to drop its $6 million lawsuit against the gambling company, a major sponsor of The Everest, according to smh.com.au. McLachlan, who takes over at Tabcorp next month, now has one less issue to address following the resolution of the dispute. The lawsuit, filed in the NSW Supreme Court, accused Tabcorp of failing to promote The Kosciuszko, a spring carnival race where participants buy $5 sweepstakes tickets. The race features 14 winners who arrange with bush-based horse owners to compete for a share of the $2 million prize pool. Racing NSW alleged that Tabcorp breached its sponsorship and strategic alignment agreement, potentially costing it $6 million in future revenue. However, the dispute has been settled amicably, with Racing NSW choosing not to pursue the matter further. The Everest, the world's richest horse race on turf, is set to again be a major feature race in this year's spring carnival. Tabcorp has been the long-time naming rights partner of The Everest. McLachlan and Racing NSW CEO Peter V'landys, who have a history of mutual respect from their work in AFL football and rugby league, have already met before McLachlan starts his role. V'landys, also the chairman of the Australian Rugby League Commission, praised McLachlan's appointment, calling him a "very smart guy and a great dealmaker." McLachlan expressed enthusiasm about working with V'landys and Tabcorp, expressing the respect he has for V'landys and stating he looks forward to their collaboration.