Tabcorp Holding’s (TAH) core business is wagering and gaming in Australia. Tabcorp has the exclusive license in Victoria to sell totalizer bets through the brands TAB, Footybet and National Sportsbet. The gaming division owns and operates gaming machines in hotels and licensed clubs.
Tabcorp also owns and operates New South Wales only casino, Star City, plus Queensland casinos. After the Jupiters and TAB acquisitions, Tabcorp is the fourth largest global entertainment and gaming group.
Tabcorp has finally received approval from the Supreme Court of Victoria to split its business in two.
The company’s casino assets will be spun off into the separately listed company Echo Entertainment Group. Echo is expected to commence trading on Monday 6 June 2011 under the stock code EGP.
Tabcorp shares will continue to trade under the code TAH and will include the company’s wagering, gaming and keno business. Both companies are seen as takeover targets following the demeger, with Echo rumoured to be in the sights of casino business Crown Limited (CWN).