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Tabcorp plans to take over Australia’s last state-owned betting firm

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Tabcorp, a premier gambling company based in Australia, has announced its willingness to bid for Western Australia’s TAB business. The state government had already declared that the business is available for purchase, for an estimated amount of around A$500m (€310m/$353m/£270m).

Western Australia’s TAB is the last remaining government-owned betting agency in Australia. State Treasurer Ben Wyatt explained details of the bidding proposal.

Tabcorp, Australia’s biggest gambling company, said in a submission to the state government, published on Tuesday, that it would be “ready to respond” to a sale process. Tabcorp and Tatts – which have since merged – both held talks about buying the TAB more than three years ago. The sale was first mooted four years ago, and the TAB was officially listed for sale in the state’s 2015 budget, but political squabbling and divisions within the racing industry led to delays.

Under the sale, TAB outlets would for the first time be able to offer popular virtual animated horse and greyhound horse racing products. The sale of the TAB comes as Wyatt also announced the sale of the electricity grid in a bid to boost state coffers.


Source: European Gaming Media

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Mobile Betting Bill Fails to Progress Through New York Assembly

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Senator Joseph Addabbo’s mobile betting bill has failed to progress through the New York Assembly. The legislative session saw S17 fail to progress beyond the Assembly Standing Committee on Codes.

Addabbo tweeted that he saw no clear reason why the state could not implement mobile sports betting in 2019. Failure to do so would see the state miss out on around $75m in revenue, funding for education, and both job creation and retention.

“NY will be stuck like a disabled car on the shoulder, while we allow an illegal sports betting business in our state thrive and idly watch other neighboring states pass us up with enormous revenue gains from mobile sports betting,” Addabbo said.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Mobile Betting Bill Fails to Progress Through New York Assembly

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Eldorado Resorts to Buy Caesars Entertainment Corp

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Eldorado Resorts Inc., the US based casino operator, has agreed to merge with Caesars Entertainment Corp through a $17.3 billion cash and stock deal.

The deal, which is expected to be announced soon, values Caesars at close to $13 a share. The combined company’s ownership would be split roughly between Eldorado and Caesars shareholders.

An Eldorado spokesman said the company did not comment on rumours or speculation. Caesars did not immediately respond to requests for comment.

The combination of the two companies would create a serious competitor to larger casino industry players, such as Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Eldorado Resorts to Buy Caesars Entertainment Corp

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Nagasaki Governor Reaffirms His Support for Sasebo IR Bid

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Nagasaki Governor Hodo Nakamura has reaffirmed his support for the Sasebo IR bid and urged the national government not to delay too much in issuing its IR regulations and establishing the national regulatory framework.

While Sasebo’s bid is not linked to a specific timeline, the local government does wish to move forward quickly, especially now that other competing bids could emerge from the Kyushu region.

In related news, Nagasaki IR Business Connect Seminar is going to be held with the participation of international operators and investment groups.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Nagasaki Governor Reaffirms His Support for Sasebo IR Bid

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