For USD 105 million
Tabcorp secures long-term licences with acquisition of ACTTAB
(Australia).- Tabcorp announced the acquisition of government owned ACTTAB, which runs sports betting, Keno and betting on racecourses for USD 105 million.
2014-07-31
Reading time 29 seg
(Australia).- Tabcorp announced the acquisition of government owned ACTTAB, which runs sports betting, Keno and betting on racecourses for USD 105 million.
The deal includes the government issuing Tabcorp with a totaliser and sports bookmaking licence, while the company will pay an annual USD 1 million licence fee.
“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,” said David Attenborough boss of Tabcorp.
“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 partners,” he concluded.
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