Tabcorp buys off Crownbet opposition to merger with Tatts
News on 30 Nov 2017
News on 30 Nov 2017
Australian gambling group Tabcorp has bought off CrownBet’s opposition to its merger plans with Tatts by agreeing to supply a digital stream of SKY1 and SKY2 racing content for the personal use of CrownBet’s Australian wagering customers.
The agreement also carries an annual fee payable by CrownBet that has not been disclosed.
In a company statement Thursday, Tabcorp advised:
* 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;
* Supply of digital racing vision to CrownBet’s customers;
* CrownBet has agreed not to apply for judicial review of the Australian Competition Tribunal’s decision on 22 November 2017 to grant authorisation for the Tatts merger.
CrownBet has also agreed not to take any action which would impede the implementation of the transaction.
