Tabcorp is buying the ACT government's gaming business ACTTAB for $105.5 million.
As part of the deal, the ACT government will issue Tabcorp with a totaliser and sports bookmaking licence, while the company will pay an annual $1 million licence fee.
Tabcorp boss David Attenborough said the acquisition would fit with the company's existing NSW and Victorian businesses.
"The acquisition of ACTTAB presents a unique opportunity for Tabcorp to secure long-term licences on highly favourable terms in a jurisdiction that is complementary to our existing wagering and Keno businesses in Victoria and New South Wales," he said.
"We look forward to leveraging our capabilities to strengthen the product offering available to ACTTAB customers and to deliver the best outcome for the racing industry and other stakeholders including our venue and community partners."
Tabcorp's purchase of ACTTAB, which runs the territory's wagering, Keno and trackside businesses, is subject to approval from the Australian Competition and Consumer Commission.
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