MELBOURNE: The New South Wales state government has decided to remove a cross-ownership restriction that prevents a gaming company owning both a wagering and a gaming licence.
The change clears the way for Australias largest gaming group, Tabcorp Holdings Ltd, to proceed with its A$1.9bil takeover bid for New South Walesbased Tab Ltd. The latter now has to decide whether to accept Tabcorps bid or continue to pursue a merger with smaller Queensland rival UNiTAB Ltd.
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