Nationally-renowned betting operator TabCorp has recently made plans to purchase the TAB belonging to the ACT government. The deal will cost an estimated $105.5 million, and it is subject to approval by the Australian Competition and Consumer Commission. The acquisition deal offers TabCorp a very generous bargain.

The betting operator will receive a 50-year totalisator licence, and will oversee all of the ACT as well as a portion of New South Wales. In addition, TabCorp will also receive a 15-year sports betting license. There is the potential for that particular license to last 50 years due to rolling renewals. The deal will begin with the payment of an annual licence fee of $1 million.

It take about a year for TabCorp to complete the integration period. The ACCC will have to weigh in on the deal in order to determine whether or not the acquisition will eliminate or reduce competition in the local betting market. This is always an important aspect of any deal of this nature to keep the economy viable.

“The acquisition of ACTTAB presents a unique opportunity for Tabcorp to secure long-term licences on highly favourable terms in a jurisdiction that is complementary to our existing wagering and Keno businesses in Victoria and New South Wales,” says David Attenborough, TabCorp managing director. TabCorp is confident that it will be able to strengthen the ACTTAB’s product offering.

Across the country, millions of punters wager at TabCorp betting shops and online. While the ACTTAB is still quite successful, there is always room for improvement. “We look forward to leveraging our capabilities to strengthen the product offering available to ACTTAB customers and to deliver the best outcome for the racing industry and other stakeholders including our venue and community partner,” Attenborough continues.

About the Author

George Anderson
Author George, has over 25+ years’ experience in the Pokies and Casinos industry throughout Australia and New Zealand. Loves to research new Pokies games on the block and follows announcements from top industry providers about their upcoming releases. As soon as a new interesting pokie game appears on his radar, George is there to check it out and give you the scoop before anyone else and tell you about all casino sites where can play the latest game. Before this gig, George worked as Pokie game tester, making him an ideal candidate for this genre of work. He is also an animal lover and a proud owner of three dogs.