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Australia's Pokie Giants Sitting Pretty24 July 2003VICTORIA, Australia – As reported by the (Australian) Herald Sun: “Victorian taxpayers face a $1.28 billion compensation payout to pokies giants Tabcorp and Tattersall's. “A Herald Sun analysis of legislation reveals the gaming companies can expect to pocket about $600 million each if the Bracks Government doesn't renew their poker machine licences. “The costly but little-known contingency plan was conceived during the reign of the former Kennett government. “Angry anti-gambling groups say the deal all but guarantees the long-term survival of the controversial Tabcorp-Tattersall's duopoly. “The lucrative arrangement could also hinder the entry of rival operators hoping for a slice of the multi-billion dollar gaming industry. “…Gaming Minister John Pandazopoulos told the Herald Sun the payments would be a factor in determining the future of Victoria's gaming industry…” |