Tabcorp and Intralot may battle it out for exclusivity, but there is an alternative reality that is not being talked about.
The Victorian government’s never-ending search for a wagering licence holder could end in a non-exclusive deal between several gambling operators, but incumbent Tabcorp will still push for exclusivity in pubs and clubs for another two decades.
Some wagering sources have suggested this may be a strategy to reduce competitive tension and ultimately try a takeover of Tabcorp for a second time. But people close to Entain insist it is due to the flawed process and there are no active talks. Entain declined to comment. Any acquisition would be subject to change in NSW legislation, which prevents any person or party from owning more than 10 per cent of Tabcorp at any given time.
Tabcorp was last awarded the licence and has exclusive rights to sell specific products and operate betting in shops and pubs under a $410 million upfront payment paid in 2011, despite holding the licence since 1994. While exclusivity is desirable, Tabcorp is expected to submit bid proposals for a situation where a licence is shared.
The Victorian wagering licence process is overseen by corporate advisory Ad Astra and has been running for more than 12 months. Wagering sources said a decision on the process will not be made before October.
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