SPORTS BETTING – AUSTRALIA

Tatts all folks: Tabcorp wins bid

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 : 13-Dec-17

Some 98.64 per cent of Tatts Group shareholders voted in favour of a merger with Tabcorp Holdings at a scheme of arrangement meeting on 12 December. The enlarged Tabcorp will boast a market capitalisation of about $A11bn and pro-forma annual revenue of $A5bn. Tatts’ outgoing CEO Robbie Cooke noted at its last AGM that the gaming and lotteries group’s market value has risen by $A2.5bn since he took the helm five years ago. Tatts chairman Harry Boon will join the Tabcorp board.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, LADECO AIRLINES, GVC CORPORATION

Tatts sale vote put back to AGM

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Original article by Sarah-Jane Tasker
The Australian – Page: 21 : 29-Sep-17

The Australian Competition Tribunal will undertake a second review of the proposed merger between Tabcorp and Tatts Group in late October. This will affect the timetable for implementing the merger, as Tatts shareholders were slated to vote on the deal in early October. The vote will now be held at Tatts’ AGM on 30 November, and the two gaming groups hope to implement the merger on 14 December. The merger agreement stated that the deal must be finalised by 31 December, and it may have to be renegotiated if this deadline is not met.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, AUSTRALIA. COMPETITION TRIBUNAL

Tabcorp-Tatts merger up in air as court orders new competition hearing

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Original article by Damon Kitney, Scott Murdoch
The Australian – Page: 17 & 20 : 21-Sep-17

The Australian Competition Tribunal will reassess the proposed merger between Tabcorp and Tatts Group after the Federal Court upheld an appeal against its decision to approve the deal. However, the court has placed a five-day embargo on disclosing its reasons for ruling in favour of the Australian Competition & Consumer Commission, which will give the competition regular limited time to prepare a new submission on the $A11bn merger. The ACCC had argued that several points of law regarding the merger needed to be clarified.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. COMPETITION TRIBUNAL, FEDERAL COURT OF AUSTRALIA, HIGH COURT OF AUSTRALIA, CROWNBET PTY LTD

Tatts takeover at risk of delay, says Tabcorp

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 : 12-Jul-17

Tabcorp has advised shareholders that a court challenge should not affect its timetable to complete an $A11bn merger with Tatts Group. The wagering giant still expects the deal to be completed during the December 2017 quarter, despite a move by the Australian Competition & Consumer Commission to seek a judicial review of the Competition Tribunal’s decision to approve the merger. Tabcorp has indicated that it will push for an expedited hearing of the ACCC’s application to the Federal Court.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. COMPETITION TRIBUNAL, FEDERAL COURT OF AUSTRALIA, DEUTSCHE BANK AG, ORD MINNETT GROUP LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, PACIFIC CONSORTIUM

ACCC appeals Tabcorp-Tatts merger ruling

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Original article by Ben Butler
The Australian – Page: 17 & 20 : 11-Jul-17

The Australian Competition & Consumer Commission will challenge the Competition Tribunal’s decision to approve the $A11bn merger between Tabcorp and Tatts Group. The ACCC has argued in the Federal Court that the tribunal made three legal errors in approving the deal. Amongst other things, it claims that the tribunal only considered whether the merger would be detrimental if it resulted in a "substantial" lessening of competition. The ACCC is of the view that the tribunal should have considered whether there would be any lessening of competition.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. COMPETITION TRIBUNAL, FEDERAL COURT OF AUSTRALIA, PACIFIC BRANDS LIMITED

Tribunal dismisses concerns in Tab deal

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Original article by John Stensholt
The Australian Financial Review – Page: 20 : 23-Jun-17

The Australian Competition Tribunal, which approved Tabcorp’s $A11 billion merger with Tatts Group on 20 June 2017, has published in full the reasons for its decision. The tribunal has rejected claims by Racing.com that it would be placed in crisis if conditions were not imposed on the merged entity when bidding for future broadcasting rights. The tribunal also did not believe the Australian Competition & Consumer Commission’s view that allowing the merger to proceed would reduce competitive bidding for the next wagering licence in Victoria.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, AUSTRALIA. COMPETITION TRIBUNAL, RACING.COM, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, RACING VICTORIA LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, ODYSSEY GAMING LIMITED

ACCC bypass comes up trumps for Tabcorp

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Original article by John Stensholt
The Australian Financial Review – Page: 15 & 20 : 21-Jun-17

The Australian Competition Tribunal has cleared the proposed $A11bn merger of gambling giants Tabcorp Holdings and Tatts Group. Tribunal president Justice John Middleton rejected the Australian Competition & Consumer Commission’s concerns about the impact on competition, arguing that the merger will result in significant benefits for the public. However, he has stipulated that Tabcorp must proceed with the sale of Odyssey Gaming Services. Tabcorp hopes to finalise the merger by September.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, AUSTRALIA. COMPETITION TRIBUNAL, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, CROWNBET PTY LTD, RACING.COM, RACING VICTORIA LIMITED, NEWS CORPORATION – ASX NWS, SUN BETS

Government considering $100m TV licence fee cuts

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 1-May-17

The Australian Government’s May 2017 Budget may include broadcasting licence fee relief for free-to-air TV networks. Options that are said to be under consideration include abolishing the existing revenue-based licence fee or replacing it with a flat fee. The licence fee reforms are intended to offset the impact of a proposed ban on gambling advertisements during live sports broadcasts. The anti-siphoning list may also be revised to compensate pay-TV groups for the loss of gambling ad revenue.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NICK XENOPHON TEAM, ONE NATION PARTY

Abolish TV licence fees, tax Google and Facebook: Xenophon

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Original article by Max Mason
The Australian Financial Review – Page: 17 : 26-Apr-17

The Australian Government’s May 2017 Budget is tipped to include a further reduction in TV broadcasting licence fees. Independent senator Nick Xenophon says the fees are "anachronistic" and should be scrapped for free-to-air networks. Xenophon supports increased restrictions on gambling advertisements during live sports broadcasts, but he rejects suggestions that he has struck a deal with the Government on the issue. Xenophon also favours imposing a turnover tax on Google and Facebook.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY

Opponents line up to resist Tabcorp deal

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Original article by John Stensholt
The Australian Financial Review – Page: 37 : 24-Apr-17

Racing NSW CEO Peter V’Landys rejects suggestions that a merger between Tabcorp Holdings and Tatts Group would reduce competition for broadcasting rights for horse racing. Some submissions to the Australian Competition & Consumer Commission have expressed concern that the merger would increase the market power of Tabcorp-owned Sky Racing at the expense of rivals such as Racing.com, which is a joint venture between Seven West Media and Racing Victoria.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, SKY RACING, RACING.COM, RACING NSW, SEVEN WEST MEDIA LIMITED – ASX SWM, RACING VICTORIA LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, CROWNBET PTY LTD, FOXTEL MANAGEMENT PTY LTD, PACIFIC CONSORTIUM