Sue van der Merwe, Managing Director of Lotteries & Keno, stated: “Tabcorp is pleased to continue its partnership with the Victorian Government with the longer term and expanded channel flexibility offered under this licence.” “The new structure will allow us to continue offering Victorian players a world class Keno product and responsibly grow the game further, backed by our extensive retail and brand presence and the expertise gained from our existing Keno online business.”
Today, Victoria’s Keno licences were awarded to Tabcorp after a competitive tender procedure, the Minister for Consumer Affairs, Gaming, and Liquor Regulation Melissa Horne revealed.
A twenty-year non-exclusive retail and digital Keno licence in Victoria has been given to Tabcorp Holdings Limited (ASX: TAH) in exchange for an upfront payment of $25 million.
The new licence will be valid until 2042. The current exclusive 10-year retail-only licence held by Tabcorp, which was awarded in 2012 for a price of $60 million, will expire on April 15, 2022, and will be replaced by the new licence.
Following the Victorian government’s review of Keno licencing and subsequent invitation to apply for a Keno licence, the new Keno licencing regime has come into effect in Victoria. Back to how it was before 2012. There will be two keno operators in Victoria again.
Tabcorp said “It’s great that the new licence has a longer term and includes digital enablement as a distinct component!”
Tabcorp, with the help of its retail partners, will continue to provide Victorians an appealing Keno Game based on the pooling of prizes from its other major Keno markets.
Sue van der Merwe, Managing Director of Lotteries & Keno, stated:
“Tabcorp is pleased to continue its partnership with the Victorian Government with the longer term and expanded channel flexibility offered under this licence.”
“The new structure will allow us to continue offering Victorian players a world class Keno product and responsibly grow the game further, backed by our extensive retail and brand presence and the expertise gained from our existing Keno online business.”
Tabcorp also possesses exclusive, long-term licences and approvals to conduct Keno in New South Wales (together with its co-licensee ClubKeno Holdings Pty Ltd, which expires in 2050), the Australian Capital Territory (expiry 2064), South Australia (expiry 2052), and Queensland (expiry 2052), among other states and territories (expiry 2047).
https://sharemarketnews.net/consumer/tabcorp-awarded-victoria-20-year-digital-keno-licence/