Tabcorp Holdings Limited (ASX: TAH) experienced a 12.4% decline in its share price after CEO Gillon McLachlan abandoned the company's ambitious 2025 strategy. The wagering giant reported a net loss of AU$1.4 billion, primarily due to a significant non-cash impairment. This marks the second time in a year that Tabcorp has written down the value of its wagering assets in New South Wales and South Australia. The strategic pivot and financial results have led to increased market concerns.
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