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Australian gaming group Tabcorp has announced that they've completed their sale of Odyssey Gaming Services, completing an important step toward being able to finalize an AUD$11 billion merger deal between Tab and the Tatts Group.
Federal Group subsidiary Australian National Hotels has taken over Odyssey. One of the conditions of the proposed merger between Tatts and Tabcorp is from the Australian Competition Tribunal was that Odyssey needed to be sold.
Shareholders at Tatts approved of the merger with 98.64% approval.
With that final stumbling block out of the way, Tabcorp and Tatts will merge on December 22nd, marking a huge gaming group within the country.
This story has the potential to be huge, and we'll be updating readers as we learn more.