CrownBet drops merger opposition

JAMES Packer-backed online gambling group CrownBet has dropped its opposition to the $11 billion merger of Tabcorp and Tatts after securing a racing vision deal with Tabcorp.

The deal means Tabcorp and Tatts have jumped one of the final hurdles to securing a tie-up by the end of the year.

They are now just waiting on confirmation from the competition regulator that it also won’t appeal against a merger again.

Tabcorp said yesterday that it had agreed to supply digital streams of Sky 1 and Sky 2 to CrownBet for use by its wagering customers on their mobile and PC devices. It will receive payments for the streams, subject to an annual minimum.

CrownBet said it would not seek a judicial review of the Australian Competition Tribunal’s approval of the merger of Tabcorp and Tatts.

“CrownBet’s competition concerns have been sufficiently addressed by an arrangement between CrownBet, Tabcorp and Sky in relation to the streaming of racing vision to CrownBet customers,” Crownbet said in a statement.