Australian news sources have reported that Racing & Gaming Minister Colin Holt is seeking to privatise the Western Australia TAB network (WA TAB), which represents the country’s last state-owned betting agency.
Holt is reported to be seeking a AUS $1 billion sale for the state asset, with the Racing Representative Group set to present its auction plans to WA regulators.
Leading Australian gambling operators Tatts Group and Tabcorp are reported to have shown interest in bidding for the asset which would see the firm’s gain 320 retail points in the WA region.
Racing Minister Holt has publically stated that he wants to speed up the auction process, in order to avoid any delays which could be caused by upcoming state elections’ set for March 2017.
The minister remains confident that state legislators will follow through with his demands, stating that privatisation of the asset would benefit Australia’s overall racing industry.
m the responsible minister right at this point in time. I want to be the responsible minister for delivering the best outcome we can for the industry,” Holt said. “At the moment, there’s no certainty beyond March 2017, and so I need to work within those parameters to do what I think is in the best interests of the industry.”
Source: SBC News
