Tabcorp Holdings already maintains one of the premier spots atop the leader board in the niche of publicly listed gaming companies, and the company intends to step things up even one notch further through the use of a takeover bid in the range of $6.4 Billion Australian Dollars which would have them owning the rival Tatts Group. With everything from electronic gaming to wagering and keno already well established money-making machines for the organization, the proposed takeover is such a big deal that it is already drawing some ire from the Australian Competition and Consumer Commission who believe that there may be underlying antitrust issues that would prevent the deal from passing spec.
The primary point of contention seems to be around the fact that the company owns Odyssey Gaming which is an overseer of electronic gaming in the Australian state of Queensland, and that seems to be the primary concern voiced by the ACCC which worries that gambling machine compliance could be weakened. That would mean potential ill-gained revenues for businesses operating in the area. Due to this concern Tabcorp Holdings wants everyone to know that they are nearing the point of expulsion for Odyssey Gaming such that they can be more in line with what seems appropriate despite that unit producing a large sum of Australian dollars in 2016 (in the vicinity of $12.6 million).
Tatts Group has always had their primary focus on lotteries with the Australian continent, and they have been very successful at maintaining what amounts to an almost complete monopoly on that market segment. This is the piece of the action that Tabcorp Holdings hopes to bring under their own umbrellas and many Aussies abound with enthusiasm at the deal. It will be the third attempt at a merger, and the stock price is ticking up with hopes that the third time will be a charm for everyone involved, including stockholders.
There may well still be a few other subtle points with the 38-page document that the Australian Competition and Consumer Commission decided to file in response to the attempt, but it looks like all of the minutia can be worked out in order to finalize a legitimate deal this time around. “The Lott” is the national lottery brand which was brought to fruition last year and it looks like Tabcorp wants to have their hands in that coffer as well. This will mean that the website domain will also have new ownership such that thelott.com might flourish even more after last year’s name change from tatts.com
It is precisely that online gaming action which has expanded to such a great degree worldwide that it is practically effortless to change between “products, events and channels,” as the report specifies. This proliferation of online gaming which is easily accessible from the Aussie mainland is probably a likely reason that the deal between Tabcorp and Tatts will be a success this time around. If so, gamers throughout the country can look forward to more great product offerings.
