Tabcorp Benefits from Deal in Victoria Province

Successful transition to new gambling industry structure

In its statement this week, Aussie online and land gambling group Tabcorp Holdings Limited underlined its transitioning activities to Victoria's new gambling industry structure.

Namely, the company's now in charge of operating the province's new Victorian Wagering and Betting Licence, which enables it to offer on-course and off-course wagering and betting on thoroughbred, harness and greyhound racing and approved sporting and other events, as well as approved simulated racing games.

In addition, Tabcorps has commenced a new 50/50 joint venture with the Victorian Racing Industry and it has also introduced its new Tabcorp Gaming Solutions business for hotels and clubs.

As a part of the deal, the Victorian Racing Industry will receive at least $1 billion from Tabcorp between this week and the end of FY-2015.

It has been specified by group CEO David Attenborough: 'We have maintained a strong focus on ensuring the transition to Victoria's new gambling environment is seamless for our customers, venue partners and other stakeholders. I would like to acknowledge the hard work and commitment of our employees in helping to achieve this.

'The launch of TGS and the new Victorian Wagering and Betting Licence are valuable growth opportunities for our business. Following the award of the new wagering licence, we have been making major investments in the network to give Victorians who enjoy their racing and sport the world's best products and services.'

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