Australian Gambling Companies to Merge
30 Mar 2006
The merger of two gambling entities in Australia could mean the emergence of one solid gambling front and greater exposure for the two companies in Australia's territory.
Two major gambling companies located in Australia have announced an intended merger. Queensland's Unitab and Victoria's Tatterall's companies are planning to merge in order to create a unified company with gambling operations in every state and territory in Australia. The creation of such a company with produce one solid gambling front for the Australian gaming and betting industry.
A top official in Unitab said that the two gambling companies complement each other perfectly on a business level. The expected revenue to be generated from this merger could exceed $3 million. The official said that this move was a 'business accretion rather than an overlap'. The new gambling company would cover an extended geographical area and offer gambling services nation-wide, he continued.
An analyst in the gambling industry said that this move meant that Unitab will not be making a future bid against Tattersall's for Victorian gambling licenses. The analyst said that the merger was a win-win situation for both parties. The analyst expected the merger to be accepted positively by the markets and that the doubled power and exposure of the joint company could only benefit the industry. The gambling companies in Australia and continuously pushing for improved regulation and with the joining of these two companies, and the ability to present a united front will help the gaming industry as a whole.
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