Wagering and gaming firm Tabcorp Holdings expects to pay its $410 million wagering and betting licence fee to the Victorian government shortly.

Tabcorp retained its Victorian licence in return for an upfront payment of $410 million to the state government.

Managing director David Attenborough told shareholders at Tabcorp’s annual meeting on Wednesday that the fee would be paid “shortly”.

The 12-year licence, awarded by the Victorian government in July, enables Tabcorp to conduct betting on thoroughbred, harness and greyhound racing and approved sporting and other events.

It also enables Tabcorp to offer approved simulated racing games on which people can bet, and to operate a betting exchange.

The licence starts from August 2012 and is expected to deliver earnings before interest, tax, depreciation and amortisation of about $120 million in 2013/14, Mr Attenborough said.

Tabcorp chairman Paula Dwyer said the company would focus this year on managing the transition to the new Victorian gambling industry structure and establishing the new Victorian keno business, with a target of 1,000 venues.

Tabcorp was awarded a 10-year Victorian keno licence in March, to operate from April 2012.

Ms Dwyer said that in NSW, Tabcorp would focus on the continued rollout of its animated racing game Trackside into TAB agencies, hotels and clubs; the expansion of keno and self-service technology; and opportunities generated by the international pooling of bets.

Tabcorp shares gained five cents, or 1.8 per cent, to close at $2.87.