Media Release

Tabcorp enters into agreements with CrownBet

Tabcorp Holdings Limited (Tabcorp) today announces that it has entered into the following agreements with CrownBet Pty Limited (CrownBet) in relation to the:

  • Settlement of CrownBet's opposition to the proposed combination (Transaction) of Tabcorp Holdings Limited (Tabcorp) and Tatts Group Limited (Tatts) in the Australian Competition Tribunal (Tribunal) (ACT Settlement)
  • Settlement of the proceedings commenced by CrownBet in the Supreme Court of NSW in relation to the legal status of their proposed arrangements with clubs in NSW (NSW Settlement)
  • Supply of digital racing vision to CrownBet's customers (Vision Supply Agreement)

ACT Settlement

CrownBet has agreed not to apply for judicial review of the Tribunal's decision on 22 November 2017 to grant authorisation for the Transaction. CrownBet has also agreed not to take any action which would impede the implementation of the Transaction.

NSW Settlement

CrownBet has agreed not to commence any further court proceedings in relation to the subject matter of the NSW Supreme Court declaration it was previously seeking in relation to the legal status of their proposed arrangements with clubs in NSW.

Vision Supply Agreement

Tabcorp has agreed a commercial arrangement with CrownBet for Tabcorp to supply a digital stream of SKY 1 and SKY 2 to CrownBet for the personal use of its Australian wagering customers on their own mobile and PC devices. Supply of vision is conditional on the agreements Tabcorp has with each Australian racing code and each international jurisdiction and also on implementation of the combination with Tatts. Under the commercial terms of the arrangement, CrownBet will make payments to Tabcorp, subject to an annual minimum amount.

 

For more information: Media: Nicholas Tzaferis, GM Corporate Affairs, +61 3 9868 2529
Financial analysts: Sacha Krien, GM Investor Relations, +61 3 9868 2794

 

Recent Media Releases

Strategic review of Sun Bets

Tabcorp Holdings Limited notes media coverage in relation to Tabcorp’s proposed early exit from Sun Bets, the UK online wagering and gaming business it operates in partnership with News UK.

Tabcorp to complete refinancing of Tatts acquisition facility

Tabcorp Holdings Limited (Tabcorp) today announced that it has priced a new US$1.4 billion issue of longterm notes to investors in the US private placement market (Notes).

Company Secretary changes

Tabcorp Holdings Limited today announces the appointment of Chris Murphy as Company Secretary, subject to receiving all necessary regulatory and ministerial approvals.

Tabcorp extends wagering retail exclusivity in South Australia to 2032

Tabcorp Holdings Limited (Tabcorp) today announces that its wholly owned subsidiary, UBET SA Pty Ltd (UBET) has been granted an extension on the retail exclusivity for its wagering licence in South Australia.