(MENAFN) Two of Australia's biggest bookmakers plan to merge, as they try to compete against the rise of online betting.
In detail, Tabcorp and Tatts Group - the country's largest non-casino gambling firms - hope to form a business worth USD7.1bn.
But the deal needs to be scrutinised by regulators and approved by shareholders of both companies.
Betting is a national obsession in Australia, making it one of the world's most lucrative gambling markets.
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