Two of Australia’s largest bookmakers intend to unite, as they attempt to compete against the rise of online betting.
Tabcorp and Tatts Group – the nation’s biggest non-casino betting businesses – expect to form a business worth A$11.3bn ($7.1bn; £8.7bn).
But approved by stockholders of both companies and the deal must be scrutinised by regulators.
Gambling is a national fixation in Australia, making it among the world’s most lucrative betting markets.
It has the world’s greatest betting loss per head, in accordance with UK consultancy H2 Betting Capital, with Australians losing an average of US$1,130 (£918) a year.
Along with running conventional sports betting facilities, often seen in bars and clubs, Tatts and Tabcorp even have companies including state lotteries and slot machines, known as pokies.
After the deregulation of betting licences in Australia enabled an influx of competition both businesses saw gains fall last year.
The Australian Competition and Consumer Commission has flagged “major concerns” about the deal.