An announcement this morning has been made with Tabcorp and Tatts Group set to merge and create an $11 billion dollar gaming giant.
Tabcorp agreed to pay a 20 per cent premium for Tatts shares to secure the deal which remains subject to regulatory approval and a Tatts shareholder vote.
The deal is expected to create $50 million in extra annual funding to the racing industry.
“In wagering, combining our two complementary businesses will give us a national footprint and could create a pathway to larger wagering pools. We are excited by this opportunity, which we believe will deliver an enhanced wagering experience for our customers and, in turn, will generate stronger returns to the Australian racing industry, underpinning its sustainability.” Tabcorp chairmanPaula Dwyer told AFR.
Questions still remain regarding some of the pairs betting operations including Luxbet and Ubet however in Dwyer’s statements it suggests that a national betting pool could be implemented which could only be good for racing and the Australia punter.
Have Your Say: Do you think this will be a positive or negative for racing in Australia? – Leave a comment below.