Tabcorp Holdings
(ASX:TAH) has signed conditional agreements to sell its Queensland gaming machine monitoring business, Odyssey Gaming Services.
Tabcorp has agreed with Australian National Hotels Pty Ltd to sell its Odyssey business – to secure approval from the Australian Competition and Consumer Commission (ACCC) for the proposed merger between Tabcorp and Tatts Group Ltd
(ASX:TTS).
Last month, the ACCC said that the proposed merger could substantially lessen competition in Queensland.
If Tabcorp and Tatts combine, it would create a giant worth $11.3 billion, controlling over 90% of Australia’s totalisator betting market.
The Odyssey divestment deal depends on whether the ACCC accepts Tabcorp’s undertaking, or the Australian Competition Tribunal otherwise allowing the merger to proceed.
This morning, Tabcorp shares are trading 0.21% lower at $4.77.
