Advice re Northern Territory TAB
Document date:
Fri 14 Apr 2000
Published:
Fri 14 Apr 2000 00:00:00
Document No:
134074
Document part:
A
Market Flag:
Y
Classification:
TAB QUEENSLAND LIMITED 2000-04-14 ASX-SIGNAL-G HOMEX - Brisbane +++++++++++++++++++++++++ As previously advised TAB Queensland Limited (TABQ) has been participating in the bidding process for the Northern Territory TAB (NT TAB) and was one of four short listed parties that were invited to submit a final binding bid. TABQ has today been advised by the Northern Territory Government that it has been0 selected as the preferred purchaser of the NT TAB. The Territory Government and TABQ are currently finalising the Sale Agreement and other associated documentation to conclude the acquisition. It is anticipated that the transaction will be completed in July 2000. TABQ will gain exclusive rights to undertake totalisator race wagering in the Northern Territory and non exclusive rights for the operation of totalisator sports wagering. The NT TAB will add 51 outlets to TABQ's d0 istribution network comprising 12 Agencies, 1 Sub Agency, 20 PubTABs and 18 ClubTABs. The NT TAB's turnover in 1998/99 of $86.8 million produced revenue of $14.7 million. For further information contact Mr Dick McIlwain on (07) 3862 0270. R M Cooke GENERAL COUNSEL & STRATEGIST 1