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ACCC to weigh Betfair effect on top Victorian horseraces
 Message was posted: 12:08 Jul 8th, 2006     
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Gambling news from http://www.theaustralian.news.com.au


THE competition regulator will consider consequences of a Betfair presence on prestigious Victorian race fields in its investigation of Tabcorps' bid for Unitab.
The Weekend Australian has learned the ACCC is to consider if Betfair - a British-based internet gambling service that gained permission this week to operate on races in Victoria - could become popular enough to change Australia's wagering market.

The $1.9 billion takeover offer by the Victorian gaming giant for the Queensland wagering group depends on approval from the Australian Competition and Consumer Commission and the Queensland Government.

In reviewing the Tabcorp bid, the ACCC has asked for submissions on the "significance" of cross-boarder punting and whether the wagering is done by phone or internet. It has said approval for the Tabcorp bid depends on the existence of state-based monopolies, which were key to approval for Tabcorp's 2004 takeover of the NSW TAB.

Unitab chief financial officer and company secretary Barrie Fletton expressed surprise yesterday at the Victorian racing industry's approval of Betfair: "I don't know what the deal is - generally the industry doesn't fare that well out of betting exchanges, there's issues around corruption with betting on a horse to lose. But he placed little store in the significance of the Betfair licence for the ACCC.

Victorian gaming and poker machine operator Tattersall's - which has launched a rival "merger of equals" with Unitab - yesterday agreed Betfair's licence would have little bearing on the ACCC.

"The approval of a licence for a betting exchange is irrelevant to the market competition considerations for totalisator betting and the Tabcorp takeover offer for Unitab," Tattersall's head of corporate Simon Doyle said.

Victorian Racing Limited has lodged an objection to the ACCC, as have Queensland Racing Limited, the Australian Punters Association and channel TVN. It is understood the VRL met ACCC officials yesterday to discuss the objection.

Unitab yesterday disclosed a list of material contracts that could be changed in the event of a Tabcorp takeover.

The list included a racing distribution agreement with the South Australian TAB and deals with poker machine operators Maxgaming and Aristrocrat.





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