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TATTS ACQUIRES TOTE TASMANIA
Sunday December 4,2011 : Tasmanian Government will still benefit after completion of sale
The on-again off-again sale of the Tasmanian TOTE has ended with the State of Tasmania entering into a binding agreement to sell the entity to Tattsbet Limited.
TattsBet Limited will pay an upfront consideration of A$ 118.4 million and the potential for a further A$ 15.4 million derived from a GST cash refund owed to the TOTE. In addition, TOTE may be entitled to certain future GST benefits of up to A$4 3.6 million, which Tatts has agreed to remit to the Government as and when they are received.
Under the terms of the deal the State of Tasmania will continue to receive an annual wagering levy from the TOTE, estimated at over A$ 6.5 million. Tatts has agreed to maintain certain service obligations, including the provision of ongoing access to the TattsBet pool, wagering on Tasmanian racing, a free to air racing radio service, supporting local employment and retaining the TOTE's Tasmanian call centre.
Following completion of the deal, the TOTE's customers will have access to the full range of TattsBet products, including both its pari-mutuel and fixed odds offerings.
“This sale is a great outcome for the people of Tasmania and will mean the State will no longer be directly exposed to the significant risks associated with ownership of a betting agency in an increasingly competitive wagering market,” said Premier Lara Giddings.
Finalisation of the deal is subject to various regulatory approvals, including the Australian Competition and Consumer Commission, and is expected to complete by end March 2012.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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