SYDNEY, April 10, AAP - Gaming companies Tabcorp Holdings and Tatts Group have each entered a trading halt pending an announcement.
Shares in both companies will not be traded until an announcement is made or normal trading begins on Monday, April 14.
Tabcorp said it had requested the halt following the Victorian governraent’s announcement on a restructure of the ganiing industry.
Victorian Premier John Brumby has announced an end to the duopoly held by Tattersall’s and Tabcorp over the state’s 27,500 poker machines outside Crown Casino.
Under new licensing arrangements after 2012, venues will be able to own and operate their own gaming machines under 10-year licences.
Mr Brumby said today the government would enforce a cap on ownership so that no one venue operator could own more than 35 per cent of machines available to hotels.
He said the reshaping of the industry would improve diversity and competition and create more direct connection with communities.
There will be no increase in the number of machines under the new structure, with the 27,500 to be split evenly between clubs and hotels.
Crown Casino operates under a different licensing arrangement.