Tabcorp extends NSW Keno licence until 2050 with AUS $25 million payment

Australian gambling operator Tabcorp has confirmed that it will make an upfront payment of AUS $25 million (£12.2 million) to the New South Wales (NSW) government for its extension of Keno gaming services.

The NSW licence, will see Tabcorp extend it Keno provisions services until 2050. The operator is expected to pay an additional Aus $3 million in yearly licence costs, with NSW regulators detailing that the fee would increase to Aus $4.5 million in 2022.

Tabcorp governance detailed that it expects to make its NSW payment by the second half of 2016. The extension will see the operator service Keno provisions throughout 1800 NSW licensed pubs and clubs.

The NSW licence renewal follows last summer’s announcement that Tabcorp had re-branded its Keno business, amid the divisions decline in performance due to decreasing player activity. The operator launched its ‘Lets Play’ nationwide campaign seeking to attract a younger player demographic for its Keno services.

At Present, Tabcorp’s other Keno licences include Victoria which expires in 2022, Queensland in 2047 and the ACT in 2064.