Tabcorp confirms NSW licence

The New South Wales government has finalised an extension of Tabcorp Holdings's (TAH) retail betting monopoly for 20 years.

The deal was struck in June with Tabcorp paying $75 million to continue as the sole operator of totalizator and fixed-odds betting in NSW through its TAB outlets until June 2033.

Tabcorp will foot an initial bill of $50 million and pay the remaining balance over 10 years from 2024.

Tabcorp's retail network includes about 2,130 agencies, hotels and clubs in NSW.

It is understood there was no competitor looking to break Tabcorp's monopoly.