Tabcorp has confirmed that it might be interested in acquiring Tote Tasmania, the betting agency owned by that state's government that it said in May it intended to sell.
This follows a notification by the Australian Competition and Consumer Commission on its online mergers register of an informal review into a possible acquisition.
Tote Tasmania conducts pari-mutuel wagering in the island state, where all bets from a number of customers from one or more betting agencies are pooled. The company said in April that it had an annual turnover of AUS$750m. Annual earnings before interest, tax, depreciation and amortisation are around AUS$30m.
The ACCC has invited comments from parties interested in Tabcorp’s proposed acquisition of Tote Tasmania. The closing date for submissions is August 5.
