Tabcorp will outsource its lotteries and keno arm as a separate ASX-listed business and has stopped selling its betting business.
The company said Monday that splitting up lotteries is the fastest and most effective way to to help shareholders.
The board has also decided not to sell its betting and media division, which includes TAB betting providers and TV and radio stations Sky Racing.
The Chairman of Tabcorp , Steven Gregg, said the sale of this arm would have required a lot of third party approvals and legislative changes in NSW.
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