Business News

Australian gaming operator Tabcorp said Friday that it has reached a 12-year pari-mutuel pooling agreement with Racing and Wagering Western Australia (RWWA) for the Victorian TAB.

The new agreement, which will come into force on August 16th subject to regulatory approvals, will ensure that pari-mutuel bets placed through RWWA will continue to be co-mingled into the SuperTAB pool, which is hosted by the Victorian TAB.

Other pooling parties in SuperTAB are the Australian Capital Territory, New Zealand, Singapore and South Africa, making it the largest of Australia’s three pari-mutuel betting pools.

The new arrangements also include an extension of the bet types pooled with RWWA to include Quinella, Doubles, Exacta and First 4.

“Securing Western Australia’s continued participation in the Super TAB pool will allow for deep pool liquidity and reduced dividend volatility for TAB customers,” Tabcorp said in a statement Friday. “Maintaining the liquidity of the SuperTAB pool is also critical in terms of international expansion as a big pool makes international co-mingling more attractive and viable.”

The company added that in order to facilitate the new pooling agreement with RWWA, changes to the maximum Victorian TAB commission rates for three bet types were necessary, and have now been approved. The bet types are Quinella (rising from 14.75 per cent to 17.5 per cent); Doubles (rising from 17per cent to 20 per cent); and Exacta (rising from 16.5 per cent to 20 per cent).

Tabcorp said the new commission rates were a precondition of the new pooling agreement and align the commission rates between the Victorian TAB and RWWA.