PWC's Tabcorp betting report handed to NSW government
Gaming industry experts are predicting that the Australian betting firm could be required to pay the government between us$ 50 and us$ 100 million to extend its exclusive period for another 15 years once the report's findings are made public.
The exclusive licence is described as 'critical' to Tabcorp as it generated over us$ 2 billion in bets placed through its retail network of 2130 pubs, clubs and agencies in the first half of this financial year. It is understood that rival wagering operators are considering a bid for a slice of the off-track betting action.
A government source revealed last week that PricewaterhouseCoopers was confidentially commissioned to investigate whether Tabcorp's exclusive deal was the most lucrative model for NSW after Tabcorp last year paid us$ 50.2 million to renew its exclusive licence in Victoria for another 12 years.
Tabcorp chairman Paula Dwyer has said exclusivity was the "optimum model" and the company hoped the state government formed this view.
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