Australia gambling giants Tabcorp and Tatts plan merger
Two of Australia's biggest bookmakers plan to merge, as they try to compete against the rise of online betting.
Tabcorp and Tatts Group - the country's largest non-casino gambling firms - hope to form a business worth A$11.3bn ($7.1bn; £8.7bn).
But the deal needs to be scrutinised by regulators and approved by shareholders of both companies.
Betting is a national obsession in Australia, making it one of the world's most lucrative gambling markets.
It has the world's highest gambling loss per head, according to UK consultancy H2 Gambling Capital, with Australians losing an average of... read more
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