Racing Victoria won’t rule out appeal to Tatts & Tabcorp merger
RACING Victoria has slammed the Australian Competition Tribunal’s decision to approve the Tabcorp and Tatts merger, and announced that it’s yet to rule out an appeal.
In a statement released on Tuesday afternoon, Racing Victoria Chief Executive, Giles Thompson said the body will take all options into account before assessing its options.
“We note the Tribunal will hand down their reasons for decision on Thursday and we look forward to reading these to best understand their position before more broadly reviewing the possible implications of this decision on the Victorian Racing Industry.”
The statement went on to say that any potential merger needs be beneficial to the industry as a whole, rather than just the stakeholders of Tabcorp and Tatts.
Sky charges are what happens in a monopoly market .. tab has gouged industry for years and a Tatts/tab merger would only make it worse
— prawn machine (@prawnmachine) June 4, 2017
“It is Racing Victoria’s role to advocate for and on behalf of all involved in Victorian thoroughbred racing, which is why we took the position that we did and why our focus will continue to be on prioritising the best interests of our current and future owners, trainers and jockeys.
I was prepared to wait and see what the consequences of the merger would be but if RV against then I’m now strongly for #RVbeenadisaster
— POOMA RATINGS (@POOMA_TIPS) June 20, 2017
“Our primary concern has been the potential negative impact the merger will have on competition for the next Victorian wagering licence.
“The more competition there is, the greater the opportunity to grow investment in thoroughbred racing in this State.”
Opinions were divided on social media as to whether the move will be a positive one for racing.
Manny Gelagotis, who is part of the Gelagotis training team, tweeted that he is optimistic the move will work out well for the thoroughbred industry.
Hope the TAB – Tatts Merger goes through ! Start building a fresh future & start building a national business model that benefits main pple
— Manny Gelagotis (@hvasstan) June 19, 2017
Others believe that the proposed benefits put forward by TAB are no certainty to materialise.
Can someone pls provide one positive aspect of Tatts/tab merger? National tote still a pipedream
— Nick Giles (@EagleGiles23) June 20, 2017
Thompson believes RV and Tabcorp can come to an amicable position that puts both the company and the industry in the best possible position to thrive going into the future.
“Racing Victoria enjoys a strong relationship with Tabcorp, our joint venture partner, and have done so over a long period of time.
“We are committed to working closely with them to ensure that the Victorian TAB competes effectively and that our industry expands for the betterment of all stakeholders.”