Tabcorp is heading to the High Court in a last-ditch attempt to recoup $686 million it claims it is owed by the Victorian government.
The move comes after Tabcorp lost a Victorian Supreme Court battle over the compensation it says it is owed after the expiry of poker machine licences.
Tabcorp and fellow gaming firm Tatts lost their poker machine duopoly outside of Melbourne's Crown casino in 2012, following a Victorian government decision four years earlier.
The Victorian Supreme Court in June ordered the government to pay Tatts $540 million in compensation, while Tabcorp's push for $686 million was dismissed.
Tabcorp then lost an appeal against the ruling earlier this month, as did the government when it attempted to have the order to compensate Tatts overturned.
Tabcorp now says it will apply for special leave to appeal to the High Court in an attempt to secure compensation.
"If special leave is granted, Tabcorp will appeal the Court of Appeal's decision to the High Court of Australia and seek an order for a payment of approximately $686 million plus statutory interest from the state of Victoria," Tabcorp said in a statement.
Tabcorp argues the government was obliged to pay the compensation when the poker machine licences expired in August 2012 and new ones were granted.
It says its case is based on laws from 1994 when the government privatised the Victorian TAB and listed Tabcorp on the Australian stock market.
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