June 20, 2017 / 12:35 AM / in 7 months

Australian tribunal clears bookmaker Tabcorp to buy lotto firm for $4.7 bln

SYDNEY, June 20 (Reuters) - Australia’s competition watchdog said on Tuesday it would let the country’s top sports betting company, Tabcorp Holdings Ltd, buy lottery owner Tatts Group Ltd for A$6.15 billion ($4.67 billion).

A judge presiding over the Australian Competition Tribunal, John Middleton, said in a written summary of his ruling that he was “satisfied that the proposed merger is likely to result in substantial public benefits”.

He said the only condition he would impose on the proposed deal would be that Tabcorp proceed with a planned sale of a gambling services business. (Reporting by Byron Kaye; Editing by Stephen Coates)

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