Tatts Group is in talks with Racing Queensland over the future exclusivity of its “bricks and mortar” race wagering operations in Queensland.
Lotteries, wagering and gaming machine support services provider Tatts Group is in talks with Racing Queensland on extending the exclusivity period for its “bricks and mortar” race wagering outlets in Queensland.
Tatts’ race wagering licence in Queensland runs until 2098, but the “bricks and mortar” retailing exclusivity expires on June 30, 2014.
Wagering via phone and online is not exclusive.
“Tatts has been engaged in ongoing discussions with Racing Queensland with respect to extending the exclusivity period for `bricks and mortar’ retailing operations in Queensland beyond 30 June 2014,” Tatts said in a statement on Monday.
Racing Queensland has called for expressions of interest for the future commercial arrangements for the licence.
Racing Queensland will consider all options, including sole and multiple operator arrangements.
Tatts pays the Queensland racing industry a product fee in return for “bricks and mortar” exclusivity.
In 2013, the product fee paid amounted to $131 million before offsets.
Tatts said all other Australian jurisdictions continue to operate exclusive “bricks and mortar” retailing models for race wagering.
Shares in Tatts were one cent lower at $3.00 at 1447 AEDT.