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Tabcorp plans to exit Sun Bets following review

Tabcorp Holdings Ltd. is in talks to exit its agreement to operate Sun Bets, the U.K. online wagering and gaming business it operates in partnership with News Corp.'s News UK.

The Australian casino and gaming operator said it has concluded its strategic review of the gaming business, which it began in 2017 after disclosing that Sun Bets' trading was "challenged," and is now in discussions with News UK on a proposal to abandon the venture.

The discussions are ongoing and an agreement has not been reached, Tabcorp said.

The company added that it has started a collective consultation with Sun Bets employees regarding the proposal, in line with U.K. employment law obligations.