The arduous journey of awarding a new wagering licence in Victoria is nearing its conclusion, with bids expected to be submitted in the coming weeks. A familiar name has resurfaced among the contenders as the potential challenger to the current licensee, Tabcorp, an ASX-listed company. Intralot, headquartered in Athens and renowned for its lottery operations in various locations such as Idaho, Illinois, and Washington DC, has returned to the spotlight, writes the AFR
Previously a significant player in Victoria, Intralot withdrew its Keno and scratchies business in 2014 after incurring losses exceeding $50 million over seven years. Subsequently, the company initiated legal action against the state, alleging deception and unfair competition practices that hindered its ability to compete with Tattersall's, the largest operator in Victoria.
Interested parties have been told to expect a decision by October or November. Either way, most analysts have told clients that Tabcorp will be better off having won a new or lost licence. “The investment market is incorrectly assuming a continuation of the status quo in Victoria, failing to recognise [Tabcorp] will be appreciably better off whether it retains the licence or not,” wrote Taylor Collison’s Andrew Orbach to clients in May.