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Australia's Tabcorp: Finalizes Jupiters Merger Deal

12 June 2003

MELBOURNE, Australia – As reported by the Dow Jones: “Australian gaming and casino company Tabcorp Holdings Ltd. said Thursday that it has finalized merger terms with casino operator Jupiters Ltd. .

“Under the schemes of arrangement, Tabcorp will pay A$7.5 million (US$4.98 million) to Jupiters if the merger fails as a result of its actions. If Jupiters is responsible for the deal falling through it will have to pay A$12.2 million (US$8.1 million) to the Melbourne- based company.

“…Tabcorp said the merged group will be Australia's largest gambling and entertainment company with 18,000 gaming machines and Keno operations on the east coast of Australia. It will also have four casino and hotel facilities in Queensland and New South Wales in addition to off-course wagering and sports- betting operations in Victoria…”

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