Tabcorp Holdings Limited (ASX:TAH) has announced it has completed the acquisition of ACTTAB following clearance from the ACCC and other regulators.
The gambling and entertainment company says its deal with the ACT government is worth $105.5 million and will involve a 50 year exclusive totalisator licence, a sports bookmaking licence and ongoing approvals for Keno and Trackside products.
CEO and Managing Director David Attenborough says the deal will offer long-life licenses with low tax and product fee regimes that complement the company’s existing businesses.
The company expects earnings of $14 million from the buy, in the year following completion of the integration.
Tabcorp Holdings reported a net profit of $130 million in the full 2014 financial year.
