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Tabcorp, Tatts face uphill battle

14 Apr 2008

AUSTRALIA -- As reported by the Australian: "If Tatts Group and Tabcorp are serious about tendering for the $700 million Victorian wagering licence, they will have to think long and hard about antagonising the Victorian Government with threats to sue it for up to $1.2billion in compensation claims for losing the poker machine duopoly.

"Premier John Brumby has put the wagering licence out for tender and competition will be stiff for the monopoly licence, which expires in 2012. Tabcorp currently owns the tote licence but Tatts will no doubt fight tooth and nail to win it this time around.

"It will make life difficult for the gambling duo's lobbyists if their lawyers are fighting the Government on another front, particularly given the Premier's conviction that he does not have to pay them compensation.

"This conviction would appear to have legs given the existence of a letter written to the trustees of Tatts in 1995 that the Government and parliament had the right to change the terms and conditions at any time.

"...The new industry structure announced last week cancels the old licences and there will be no gaming operators, as currently defined in the legislation..."

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