Long-term licence granted for Tabcorp Keno

Tabcorp will make a us$ 20 million payment to the State to extend the licence, which currently expires in 2022, to 2047. The company is Australian largest and most successful Keno operator, operating the game in more than 3,600 venues in Queensland, NSW and Victoria, including 1,150 hotels, clubs and casinos in Queensland.

Tabcorp CEO David Attenborough said the licence extension gives Tabcorp greater certainty and allows it to continue to invest in the Keno lottery game in Queensland. 

“Tabcorp welcomes the decision by the Queensland Government to extend the Keno licence to 2047,” Attenborough said. “Keno is an important part of Tabcorp’s diverse portfolio. In the first half of the 2013 financial year the Keno business contributed us$ 36.7 million or 16 % of Tabcorp’s EBITDA. The extension adds further longevity to Tabcorp’s licence structure.

“Tabcorp shares a very substantial part of the benefits of its Queensland Keno operations with the community and other stakeholders, such as hotels and clubs. The company’s payment and the ongoing operation of the game will generate returns for the community and for Queensland clubs and hotels, which can be re-invested in facilities and services,” he concluded.