According to reports in the Australian press, the Victoria state government could be ready to ratify a non-exclusive deal between multiple gambling companies for the state’s wagering license.
In recent months, the incumbent Tabcorp and competing bidder Intralot have been the only two major business entities that have expressed an interest in taking on the state’s exclusive wagering license. However, Sportsbet and PointsBet are believed to have expressed an interest in a cheaper non-exclusive license that would open up the market to at least three operators. Their bids are due to be submitted by Thursday of this week.
Sources have stated that Tabcorp is willing to share the license if it can retain a monopoly in pubs and clubs for the next two decades. It’s believed that this was one of the primary reasons for Entain’s decision to pull out of the bidding as it could not have access to Tabcorp’s database of customers.
The sports wagering license which once gave exclusive rights to sports betting in the state has lost its value since online sports betting has grown in popularity over recent years.
Tabcorp’s willingness to share the market with competitors is in stark contrast to the stance the operator took in 2011 when it paid AU$410 million as an upfront payment for the renewal of its license.
The value of the license has yet to be revealed as the government has yet to make a final decision on the term of the license or whether it will be an exclusive license or if the market will be open to multiple license holders.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.