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Tabcorp Buys ACTTAB

Wednesday July 30,2014 : TABCORP SNAPS UP A.C.T.T.A.B. FOR A$105.5 MILLION
 
Australian Capital Territory sells off betting agency to top Aussie bookmaking group.
 
Australian media are reporting the sale for A$105.5 million of the ACTTAB betting agency to local bookmaking group Tabcorp Holdings by the Australian Capital Territory provincial government.
 
Tabcorp CEO David Attenborough described the Canberra-based purchase as a unique opportunity.
 
"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 said.
 
Tabcorp gains a major advantage as part of the sales deal - a 50 year exclusive totalisator licence, a sports bookmaking licence for 15 years with further rolling extensions to a total term of 50 years, and ongoing approvals to offer Keno and Trackside products.
 
ACT Treasurer Andrew Barr said the sale price had exceeded expectations.
 
"This allows the ACT Government in the short term to invest those funds to produce a boost to our budget," he said. "But in the longer term, it will allow us to put the proceeds through the Commonwealth's Asset Recycling Scheme and ultimately invest that in new assets and infrastructure for the territory."
 
Local press reports indicate that ACTTAB turns over more than A$100 million annually, but in the 2012-2013 financial year it delivered only $1 million profit for the provincial government.
 
More than 100 full-time staff work in both the ACTTAB head office and 53 retail outlets around the territory, and as part of the agreement Tabcorp has agreed to offer employment to all existing staff. The current chief executive is retiring.
 
Treasurer Barr said Tabcorp outlined plans to give A$3 million to the racing industry, A$4 million in sponsorship for sport and A$50,000 to the ACT problem gambling fund. The company will also pay the government an annual licensing fee of A$1 million per year.



Gambling News :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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