ACTTAB shareholders have announced today that following a competitive tender process Tabcorp has been chosen as the successful purchaser of ACTTAB for $105.5 million.
A spokesperson explained that the sale is expected to be finalised in late 2103 and during this period prior to completion will allow Tabcorp to proceed through final probity checks by the Gambling and Racing Commission and to prepare their systems for integration.
The spokesman commented that Tabcorp has agreed to offer employment to all existing ACTTAB staff. Staff will be offered similar and no less favourable terms than those that currently apply with full recognition of prior service being carried over adding that Tabcorp is also committed to spending at least $2 million on improving their retail outlets over the next three years and to maintain a strong retail presence in the Territory for at least the next 10 years.

Contractual arrangements with Tabcorp also ensure that:
• In addition to the payments from government, the racing industry is guaranteed an increased amount of race and other sponsorships from Tabcorp of at least $300,000 (indexed by CPI) for at least ten years; and
• Continuing the proud tradition of ACTTAB, local community and sporting organisations will continue to receive from Tabcorp at least $400,000 in sponsorships and support (indexed by CPI) for at least ten years.
• Tabcorp will acquire a new Totalisator licence for a period of 50 years with an annual licence fee of $1 million indexed by CPI.