Tabcorp Holdings Limited
(ASX:TAH) is posied to acquire ACTTAB from the ACT government for $105.5 million.
As part of the deal the gaming company will also be issued long-term gaming licences from the ACT government.
ACTTAB is a territory-owned provider of totalisator and fixed-odds wagering, Keno and Trackside products.
The business offers its services and products through a distribution network of 53 retail outlets in the ACT and telephone and internet platforms.
Managing Director David Attenborough says ACTTAB presents a unique opportunity to secure long-term licences on highly favourable terms.
While the acquisition is subject to regulatory approvals Tabcorp expects to tie up the deal within the next few months.
Tabcorp reported a net profit $74.6 million in the first half of the 2014 financial year.
