The merger of TABCORP and TATTS has been approved.
There were a few objections a couple understandable but some that beggared belief.
One was the ACCC who were probably upset that TABCORP had decided to bypass them after a few fiddling meetings and went straight to the Australian Competition Tribunal who are the next port of call if the Applicant disagrees with some of the ACCC decisions.
One objection that raised plenty of eyebrows was by Racing Victoria who according to reports receives annually around $ 200 million from TABCORP.
According to reports relations soured between the two groups when Racing Victoria and Broadcaster Seven Network along with CROWNBET and other Corporate Bookmakers operated in competition with TABCORP’S SKY RACING.
(There would not be a Corporate Bookmaker on this earth who would hand over $200m every year to a race club)
Every other State was in favour of the merger.
Racing NSW CEO Peter V’Landys said in his submission that any thought that the merger would lessen competition for broadcast rights was, “ A complete furphy”.
Justice John Middleton, the Chairman of the Australian Competition Tribunal, was almost scathing in his announcement of the Tribunals decision saying,“The Tribunal is satisfied that the proposed merger is likely to result in substantial public benefit, and the public detriments identified by the ACCC and the Interveners are unlikely to either arise or are not significant”.
(AS WE GO TO PRESS THE ACCC HAS ANNOUNCED IT WILL APPEAL THE DECISION)
It will be interesting to see what comes out in the wash after an announcement was made by Racing NSW Stewards that they were investigating an allegation that the Godolphin stables had failed to report that a horse had tested positive to “Strangles” 0n August 20 last year.
Whilst the horse had been quarantined it should have been reported to stewards.
A Victorian trainer Matt Cumani was suspended for 11 weeks and fined $20,000 for a similar breach at his Ballarat stables, and his stables were declared an infected space.
The inquiry began this week.
“I was standing in the nude in front of the bedroom mirror and the wife walked in” Rather Rotund Resident of Baker Street informed drinking partner.
I said, “I feel crook, I’m starting to look old and fat. I really need you to pay me a compliment.”
She looked me up and down and said, “Your eyesight’s damn near perfect”.