Tatts aims to extend Qld licence

Gaming group in discussions about exclusivity period for retail operations.

Tatts Group (TTS) is in discussions to extend its exclusivity period for its retail operations in Queensland.

In a statement to the Australian Securities Exchange, Tatts said it is in ongoing discussions with Racing Queensland to extend the exclusivity period for bricks and mortar retail operations in the state beyond June 30, 2014.

Tatts said it pays a product fee for the exclusivity, which totalled $131 million before offsets in 2013.

Racing Queensland has invited expressions of interest for future commercial arrangements for the licence, saying it will consider all options, including sole and multiple operator arrangements.

Tatts noted its current race wagering licence tenure until 2098, saying it was the only company able to operate under a sole operator model.

All other Australian jurisdictions use exclusive bricks and mortar retail models for race wagering, Tatts said.

Phone and online selling is non-exclusive, Tatts said.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles