Tabcorp to buy ACTTAB

    Tabcorp Holdings Ltd has announced that it will acquire the Territory-owned ACTTAB from the ACT Government for $105.5 million. As part of the deal, Tabcorp will receive a 50 year exclusive totalisator license, a sports bookmaking license for an initial term of 15 years with the option to extend on a rolling basis to a total term of 50 years, plus ongoing approvals to offer Keno and Trackside products for 50 years.
    ACTTAB has a distribution network of 53 retail outlets as well as telephone and internet platforms.
    There is no wagering tax payable to the Territory on the totalisator license, while the wagering tax on the sports bookmaking license has an expected effective tax rate of less than 1 percent of turnover. Ongoing costs for the license are capped at $1 million for the license fee and CPI increases.