Australian betting giants Tabcorp and Tatts have taken the state of Victoria to court .
Australian betting giants Tabcorp and Tatts are suing the Victorian government for A$1.5 billion in compensation after losing their exclusive licenses to run the state’s massive machine gaming industry.
The suit stems from a dispute dating back to 2008 when the state decided to restructure the market and move away from the duopoly both companies enjoyed in the $2 billion-plus market in accordance with a provision contained in the 1994 Gaming and Betting Act.
The act has since been repealed, and the state is contesting the action on that basis, arguing the two have no case.
Tabcorp is seeking more than $780 million in damages, Tatts $590 million.
