Tabcorp, Australia's largest gambling company, completed the demerger of The Lottery Corporation, Australia's largest lottery company and one of the highest-performing lottery businesses in the world. Financial terms were not disclosed. Tabcorp first announced plans to spin off its Lotteries and Keno arm in July 2021 following a strategic review of its operations. The review begun four months earlier and considered a number of structural and ownership options for Tabcorp to create greater value for its shareholders, including potentially selling off its wagering and media business.