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Betfair to invest more than A$50million in Tasmania

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This would be on top of the A$5 million up-front fee that the betting exchange offered to the Tasmanian Government.

Betfair promised to invest in hi-tech infrastructure and a second global headquarters, including the creation of hundreds of new jobs.

Tasmanian Premier Paul Lennon confirmed Betfair\’s proposal would go before state cabinet.

“TABCorp\’s threats to exclude Tasmania from the national SuperTAB betting pool if it granted Betfair a licence would have absolutely no impact on cabinet\’s decision,” he said.

“We\’ll look at what\’s good for Tasmania and we don\’t need to be threatened by private companies interstate,” Mr Lennon said.

TABCorp chief executive of wagering, Michael Piggott, confirmed it would remove Tasmania from SuperTAB if it licensed Betfair.

“It isn\’t a threat, it\’s simply a consequence,” Mr Pickett said.