Tabcorp to divest QLD monitoring business

Wagering giant Tabcorp has agreed to divest its Queensland electronic gaming machine monitoring business, Odyssey, as part of the process for securing competition approvals for its proposed merger with Tatts Group Ltd.

In a filing to the Australian Stock Exchange on Tuesday, the group announced it has executed agreements with Australian National Hotels Pty Ltd, a subsidiary of the Federal Group for the divestment.

Last month, Tabcorp lodged an application with the Australian Competition Tribunal for authorization to proceed with its merger with Tatts Group.

At the time, ACCC chairman Rod Sims expressed his concern that the proposed merger is likely to substantially lessen competition in the supply of monitoring and other services to pokies venues in Queensland.