Retail exclusivity extension finalised for Tabcorp's NSW wagering licence

Published: 10 September 2013

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Tabcorp is pleased to announce that its agreement with the NSW Government to extend the exclusivity period of its NSW retail wagering licence has been finalised.

On 20 June 2013 Tabcorp announced that it had reached an in-principle agreement with the NSW Government to extend the exclusivity period of its NSW retail wagering licence for 20 years to June 2033, subject to the terms and conditions of an agreement between the parties and legislative amendments.

The necessary legislative amendments have now occurred and the NSW Exclusivity Deed has been executed by the Minister for Tourism, Major Events, Hospitality and Racing, Mr George Souris.

The 20 year exclusivity extension entitles Tabcorp's subsidiary, Tab Limited (TAB), to continue operating as the sole provider of totalizator and fixed odds betting in a retail environment in NSW until June 2033.

TAB agreed to pay $75 million to the NSW Government to extend the exclusivity period. TAB will now make an initial payment of $50 million to the NSW Government, and the balance will be paid over a 10 year period from 2024, subject to the terms and conditions of the Exclusivity Deed.

For more information:
Financial analysts: Daniel Renshaw, GM Investor Relations, 02 9218 1113
Media: Nicholas Tzaferis, GM Corporate Affairs, 03 9868 2529
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