The Queensland government has extended wagering firm Tabcorp’s Keno licence to 2047.

The government in April announced it would extend Tabcorp’s Keno licence, which was due to expire in 2022, by 25 years, in return for a $20 million payment from the company.

The payment has now been made and the necessary documentation has been completed, Tabcorp said on Wednesday.

“The extension of our Keno licence provides long term certainty for Tabcorp’s operations in Queensland and underpins our commitment to invest in the state,” managing director David Attenborough said.

Tabcorp is Australia’s largest operator of the lottery game, running Keno in 1,170 hotels, clubs and casinos in Queensland, as well as 2,480 venues in NSW and Victoria.