RQ welcomes green-light to Tabcorp combination with Tatts Group

RACING Queensland CEO Dr Eliot Forbes has welcomed the decision by The Australian Competition Tribunal to approve the $11 billion combination of Tabcorp and Tatts Group.

The decision was handed down by Justice Middleton of the Australian Competition Tribunal at the Federal Court in Melbourne this morning.

Dr Forbes said the Tabcorp-Tatts combination will deliver for the Queensland Racing Industry.

"This combination provides greater certainty for the racing industry in this state," Dr Forbes said.

“RQ signed a deed of understanding with Tabcorp in March to ensure that the merger would bring meaningful benefits to the Queensland racing Industry.”

As part of the Deed of Understanding Tabcorp committed to an increase in capital investment in the Queensland wagering business (currently UBET) across retail and on-course wagering facilities, as well as committing to implementing increases in investments in technology, sponsorships and marketing.

“The majority of our funding comes from the Queensland wagering business, so this agreement is important to underpin future returns.”

The combined Tabcorp-Tatts business will assist with investment in infrastructure and product and channel innovation to enhance the digital and retail customer experience, driving further growth for Queensland racing.

“RQ is looking forward to working with Tabcorp to grow and enhance the Queensland racing industry,” said Dr Forbes.

www.racingqueensland.com.au

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