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Hugh coroporation is heading this way!
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2003-06-12
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Two Australian gigantic corp. named Tabcorp Holdings Ltd and Jupiters Ltd have almost finished their talks on the merger between them which will turn them into one of the biggest company in Australia.
They have already agreed on the amount of $1.7 billion.
As for now, the two company own about 20,000 gaming machines in a deal with Keno operations and an ownership of four casinos and hotel facilities in Queensland and NSW as well as sports betting in Victoria.
Shareholders of Jupiters need to approve the agreement as well as the Supreme Court of Queensland and the Queensland State Government, since the companies are closing deals all across the globe and not only in Australia.
Tabcorp are also depending on the National Australian Bank since their finances are being managed through that bank. The latest have stated their intention to withdraw at least 130 ATMs from the casinos from their own economic grounds.
Rumors suggested that the NAB are making a public statement against "problem gambling".
Once the casino had heard about it, Tabcorp spokesman Rohan Martin commented: 'We welcome the fact the NAB position has now been clarified,' and will probably take out their millions from their accounts.
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(By Liat)
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