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Tabcorp Secures Exclusive 20-Year Wagering Licence in Victoria



Tabcorp, a leading gambling group in Australia, has secured a coveted 20-year exclusive licence to offer wagering and betting in Victoria, bolstering its position in the Australian gambling market. This strategic achievement, commencing in August 2024, follows the expiry of its current exclusive licence and involves a substantial payment commitment to the Victorian government.

Major win for Tabcorp! The gambling giant clinches a 20-year exclusive wagering licence in Victoria, enhancing its market presence and strategy.

Under this new agreement, Tabcorp will pay more than AU$1 billion (£521.0m/€604.0m/US$642.0m) over the next two decades to the Victorian government. This licence authorizes Tabcorp to conduct various betting activities in the state, including the unique right to offer in-person betting outside of racetracks. Had these terms been in place for 2023, Tabcorp’s group EBITDA would have seen a $140 million boost on a pro-forma basis.

This licence signifies a pivotal shift in Tabcorp’s operations, releasing it from the obligation to collaborate on the joint venture with the Victorian racing industry and ending current industry funding obligations. Tabcorp will now pay wagering taxes and racing and sports product fees akin to other operators, enabling a more competitive and level playing field.


Stay tuned for Tabcorp’s journey under this new licence. The changes usher in a new era for the company, promising to ignite its total Victorian wagering business and drive transformational growth.

The financial structure of the licence includes an upfront payment of AU$600 million in June 2024 and 19 annual payments of AU$30 million starting August 2025. CEO Adam Rytenskild expressed confidence in these terms, highlighting them as crucial for competing with Northern Territory-licensed rivals and igniting Tabcorp’s total Victorian wagering business.

In the licensing process initiated in June 2022, organisations were invited to express interest, with select respondents formally applying in April 2023. The applications underwent rigorous assessment, focusing on corporate and individual probity, harm minimisation, and economic benefits to the state.

Melissa Horne, Minister for Casino, Gaming and Liquor Regulation, emphasized the government’s commitment to responsible gambling, stating, “The new wagering and betting licence sets strong mechanisms for harm minimisation and consumer protection.”


Despite recent challenges, including a 6.1% year-on-year revenue decline and regulatory penalties, Tabcorp’s securing of this exclusive licence marks a significant turning point. The company is poised to leverage this opportunity to reinforce its market position and navigate the evolving landscape of Australian gambling with a focus on sustainable and responsible growth.

Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

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FDJ’s Acquisition of Kindred Group Shaping the Future of Global Gaming



FDJ’s acquisition of Kindred Group, facilitated by regulatory approval and strategic shareholder engagement, signifies a transformative moment in the gaming industry. This deal exemplifies the intricate balance between regulatory compliance, shareholder value, and strategic growth ambitions. As the industry stands at the cusp of further consolidation and innovation, the FDJ-Kindred transaction heralds a new era of strategic realignment and competitive positioning in the global gaming landscape.

A Monumental Shift in Gaming Dynamics

The Swedish Financial Market Supervisory Authority (SFSA)‘s approval of Française des Jeux’s (FDJ) offer to acquire Kindred Group marks a pivotal moment in the global gaming and betting sector. This green light not only accelerates FDJ’s strategic expansion but also underscores the evolving landscape of international gaming regulations and corporate alignments.

Navigating Regulatory Waters

The SFSA’s endorsement is a crucial step in FDJ’s ambitious acquisition plan, setting the stage for a public offer slated to commence imminently. This regulatory approval highlights the meticulous scrutiny and compliance standards governing mergers and acquisitions within the sector, ensuring that such transactions align with market stability and shareholder interests.

A Call to Action for Kindred Shareholders

The forthcoming Extraordinary General Meeting (EGM) represents a critical juncture for Kindred Group, with proposed statutory amendments necessary for facilitating the acquisition. This meeting, aimed at achieving the requisite shareholder consensus, signals the importance of shareholder engagement in steering corporate direction and strategy.


The Path to Acquisition: Shareholder Conviction and Strategic Vision

FDJ’s pursuit of Kindred Group, contingent upon securing 90% of total capital, reflects a strategic maneuver to consolidate its position in the global gaming market. The offer per share, valuing Kindred at approximately €2.6 billion, has garnered unanimous board endorsement and significant shareholder backing, illustrating the alignment of strategic interests and the perceived value of this consolidation.

Activist Influence and Strategic Realignment

The role of activist shareholders, notably Corvex Management, in advocating for Kindred’s sale underscores the dynamic interplay between corporate governance and shareholder activism. Their successful campaign for board representation and strategic evaluation reflects a broader trend of active investor engagement in shaping corporate trajectories.

Implications for the Global Gaming Industry

This acquisition not only exemplifies the financial and strategic considerations underpinning such deals but also highlights the regulatory complexities and shareholder dynamics involved. As the gaming industry continues to evolve, driven by technological advancements and regulatory changes, the FDJ-Kindred merger serves as a case study in strategic growth, market consolidation, and the pursuit of competitive advantage.


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