Cooperative arrangements between Tabcorp Wagering and Victoria racing industry have been finalized, paving way for finalization of Tabcorp’s licenses with Wagering and Betting authority under Australian gambling laws.
Chairman of the sports betting giant, Paula Dwyer, shared that the new agreement will enable both Tabcorp and the Victorian racing industry to focus their efforts on the transition to the new kind of licensing in August next year.
Dwyer told Australia gambling news: “Tabcorp’s long-standing joint venture with the three Victorian racing codes is one of the most successful commercial partnerships in world racing and we are pleased that it will continue beyond 2012.”
She went on to add: “Tabcorp has a proven track record of working innovatively with the Victorian racing industry and the Victorian government. We look forward to assisting Victorian racing in building on its status as one of the world’s most vibrant and progressive racing industries.”
Tabcorp is one of the most trusted online sportsbooks in Australia offering punters virtually unlimited sports betting opportunities on local and international sporting events. Tabcorp owns and operates some of the most recognized brands in Australia.
David Attenborough, Tabcorp managing director and CEO, had the following comments: ”The new Victorian license will strengthen Tabcorp’s position as Australia’s leading wagering operator and provides a further opportunity for growth.”
He continued: “We look forward to continuing to develop the Victorian TAB business through investments in new technology, products and self-service terminals, strengthening our retail footprint and introducing a new online wagering platform.”
Tabcorp is expected to pay the A$410 million license fee for the Victorian Wagering and Betting license to the state government coffers sometime in January 2012.