Tabcorp NSW Keno license to extend to 2050

Tabcorp Holdings Ltd announced it is to be issued a new NSW Keno License to operate the NSW Keno business until 2050.

Keno is a random number game played every three minutes offering instant prizes and large jackpots. Keno is available in over 1,800 NSW Clubs and Hotels.

Tabcorp operates Keno in NSW under a management agreement with Club Keno Holdings Pty Ltd, which is a joint holder of the license.

Tabcorp will make a payment of $25 million to the NSW Government, expected to occur in 2H FY16. An annual fee of $3 million will start one year after license commencement, increasing to $4.5 million 2022, thereafter indexed at 2.5 percent for the license term.

Tabcorp managing director and CEO, David Attenborough, said Tabcorp was delighted to extend Keno’s presence in NSW licensed venues to 2050.

“Keno is an important part of the entertainment offer in NSW’s licensed venues. The license extension gives us the certainty to invest in the NSW market for the long-term” said Attenborough.


Related Articles

Tabcorp EBITDA hit from power outage less than $10 million

Tabcorp said a power outage that took out its systems over the weekend caused it to lose wagering turnover over the weekend, but the hit to EBITDA will be less than $10 million. It says its systems have now largely been restored. 
Australia tabcorp

Tabcorp digital turnover grows, though group posts loss

Tabcorp digital turnover outstripped retail turnover for the first time in a full year after Covid-19 forced the closure of its outlets and tipped the group to an $870 million ($631.8 million) loss.

Tabcorp secures debt waivers as part of Covid-19 response

Australian wagering giant Tabcorp announced it has secured agreement from its bank lenders for a waiver of leverage and interest cover covenants in response to the financial impact of the Covid-19 pandemic.  The waiver is related to its Syndicated Facility Agreement, representing facilities of A$2.2 billion (US$1.6 billion), according to a company filing. As of […]

Tabcorp lottery segment drives FY20H1 revenue

Australian wagering giant Tabcorp announced a 4.4 percent increase in group revenue for the first half of the 2020 financial year, driven by performance in its lotteries business.  The company said that it registered more than 300,000 new customers in the past six months – translating to strong growth in both digital and retail lotteries […]