The way is clear for Tabcorp to split its wagering and lotteries businesses into two separate listed entities by the end of the month after shareholders overwhelmingly supported the proposal and a new deal with Racing NSW secured industry support.

At a scheme meeting on Thursday, holders of nearly 99 per cent of the company’s equity backed the demerger and more than 92 per cent of investors voted for it, easily clearing both hurdles to move forward with the proposal.