Australian Gambling Merger Will Benefit Public

Published Tuesday, June 20, 2017 - Online-Casinos.com
Australian Gambling Merger Will Benefit Public

The online gambling industry is constantly progressing towards bigger companies that have merged and amalgamated to form some of the most lucrative businesses on the planet. The fact will remain forever that people love to bet and play games to stay engaged and entertained. It is a recession proof business in so much that when the economy is bad people gamble even more as their wish list grows and their hopes get higher.

The recent merger of two of Australia’s largest gambling service providers brings to mind the joining of many other firms that have experienced the value of joining forces to conquer the betting industry.

A giant new firm consisting of Tabcorp and rival Tatts Group has been approved by the Australian Competition Tribunal with one condition before the $11 billion AD deal is complete. Federal Court judge and tribunal president John Middleton said that Tabcorp must proceed with the sale of the Odyssey gaming machine monitoring operation in the state of Queensland. The Australian Competition Tribunal found the merger would have "substantial public benefits." Despite the concerns it had regarding the merger which could result in less competition for wagering licenses and media sales. ," Justice Middleton said in a statement, "The tribunal is satisfied in all the circumstances that the proposed merger would result, or would be likely to result, in such a benefit to the public that the acquisition should be allowed to occur,"

Chairperson for Tabcorp,  Paula Dwyer, commented, "[It] is expected to deliver significant value for both sets of shareholders and material benefits to other key stakeholders, including Australian racing industries, business partners, employees, customers and governments," adding,  "The combination will bring together two great Australian businesses, well positioned to invest, innovate and compete in a global gambling entertainment marketplace." Tabcorp and Tatts are confident that joining forces will compete with the growth of online betting a major concern for some Australian gambling operators.   

 

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