Tabcorp completes Odyssey Gaming divestment

In compliance with an Australian Competition Tribunal pre-condition related to the merger with Tatts (see previous  reports), Australian gambling group Tabcorp has announced that it has divested its Odyssey Gaming Services holdings, clearing the path to the merger.

Odyssey has been divested to Australian National Hotels Pty Limited (ANH), a subsidiary of Federal Group.

Tabcorp agreed to divest Odyssey as part of the process for securing authorisation for its proposed merger with Tatts from the Australian Competition Tribunal.

The Australian Competition and Consumer Commission (ACCC) accepted an undertaking to divest Odyssey on 5 July 2017. A variation to the undertaking was accepted by the ACCC on 11 December 2017.

The divestment of Odyssey was conditional on the proposed combination becoming effective. Both Tabcorp and ANH have waived this condition to allow for the transfer of the business prior to the Christmas period.

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