MELBOURNE: Australia’s second biggest gaming group, Tab Ltd, launched a takeover of smaller rival UNiTAB Ltd yesterday, creating a wagering concern valued at more than A$2bil.
The new company, to be named UNiTAB, would be Australia’s largest wagering group with an estimated 70% share of the A$7bil spent betting each year on horse and greyhound races. However. it would still rank well behind overall sector leader Tabcorp Ltd, which is much stronger in gaming through its ownership of casinos in Sydney and the state of Queensland.
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