12/21/2011 : TABCORP MEETS VICTORIA LICENSING REQUIREMENT
Deal with Victorian Racing sealed
In Australia, Tabcorp Wagering has finalised cooperative arrangements with the Victoria racing industry, clearing the way for the finalisation of its licensing agreement with the state's Wagering and Betting authority.
Tabcorp chairman Paula Dwyer said the successful signing of the formal arrangements would allow Tabcorp and the Victorian racing industry to focus on the transition to the new licence in August next year.
“Tabcorp’s long-standing joint venture with the three Victorian racing codes is one of the most successful commercial partnerships in world racing and we are pleased that it will continue beyond 2012,” Dwyer said.
“Tabcorp has a proven track record of working innovatively with the Victorian racing industry and the Victorian government. We look forward to assisting Victorian racing in building on its status as one of the world’s most vibrant and progressive racing industries.”
Tabcorp managing director and CEO, David Attenborough said: “The new Victorian licence will strengthen Tabcorp’s position as Australia’s leading wagering operator and provides a further opportunity for growth.
“We look forward to continuing to develop the Victorian TAB business through investments in new technology, products and self-service terminals, strengthening our retail footprint and introducing a new online wagering platform.”
Tabcorp will pay the A$410 million licence fee for the Victorian Wagering and Betting licence to the state government in January 2012.