Supplier News
Australia – NSW Keno Licence to be extended to 2050
By Phil - 22 February 2016
Tabcorp Holdings has been issued with new NSW Keno Licence extending approval to operate the exclusive NSW Keno business until 2050.
Keno is a random number game played every three minutes and offers customers the chance to win instant prizes and life-changing jackpots. Keno is available in over 1,800 NSW Clubs and Hotels and last year alone made nine players instant millionaires.
Tabcorp operates Keno in NSW under a management agreement with Club Keno Holdings Pty Ltd, which is a joint holder of the licence.
The new licence offers exciting enhancements to the current game, including digital play in-venue, subject to regulatory approvals.
Tabcorp will make a payment of $25m to the NSW Government, expected to occur in 2H FY16. An annual fee of $3m will start one year after licence commencement, increasing to $4.5m in 2022, thereafter indexed at 2.5 per cent for the licence term.
The extension adds longevity to Tabcorp’s portfolio of Keno Licences, with the Victorian licence expiring in 2022, Queensland in 2047 and ACT in 2064.
Managing Director and CEO, David Attenborough, said Tabcorp was delighted to extend Keno’s presence in NSW licensed venues to 2050.
“Keno is an important part of the entertainment offer in NSW’s licensed venues. The licence extension gives us the certainty to invest in the NSW market for the long-term, working closely with our Club, Hotel and Casino partners,” Mr Attenborough said.
The licence will issue following the necessary legislative amendments.
