News: Tabcorp maintains monopoly in NSW

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Tabcorp Holdings Limited (ASX:TAH) has won a 20-year extension of its retail betting monoploy in New South Wales, paying $75 million to the State government under an in-principle agreement. 

 

Media reports say there was no competitor looking to break Tabcorp's monopoly. 

 

The exclusivity deal gives Tabcorp a monoply on rights to TAB outlets and TAB operations in pubs and clubs for the next 20 years.

 

Tabcorp CEO David Attenborough says the win is the right outcome for the NSW racing industry. 

 

The gambling company says the extension is subject to legislative amendments.

 

Tabcorp generated a net profit of $72.9 million in the first half of the current financial year.