Shares in Australia’s Tabcorp were on track for their best day ever on Monday after the bookmaker said it had won sole rights to a new licence for betting and wagering in the state of Victoria for the next 20 years.

The racing and wagering giant said it would pay an indicative value of A$864 million ($578.53 million) for the licence, which it has held since 1994.

Shares of the firm jumped as much as 24.8% to A$0.918 as of 0213 GMT and were set for a record intraday surge, emerging as the top gainer on the ASX 200 (.AXJO) benchmark.