Australian gaming giant Tabcorp has agreed to sell its slot machine monitoring business Odyssey Gaming Services in a bid to gain approval for its proposed AU$11 billion merger with Tatts.
In a Tuesday announcement, Tabcorp said that Australian National Hotels (ANH) had agreed to acquire Odyssey, which is based in Queensland, as part of the process to win the necessary approvals for the merger.
“Tabcorp has agreed to divest Odyssey as part of the process for securing competition approvals for the proposed combination of Tabcorp and Tatts Group Limited,” it said.
“The agreements are conditional upon the Australian Competition and Consumer Commission (ACCC) accepting an undertaking to be provided by Tabcorp or the Australian Competition Tribunal otherwise granting authorization for the proposed combination and the proposed combination becoming effective.”
The ACCC had previously flagged Odyssey as an area of concern, with Chairman Rod Sims telling the ABC, “The clubs in NSW have a concern that the monitoring data Tatts gets could be used by Tabcorp to advance their own gaming services business.”
RelatedPosts
