SBC News Voice of the Sports Betting Industry
Following the forecast of an impending AUS $2.7 billion (£1.4 billion) state deficit, West Australia governors are eyeing the potential sale of state assets, with a view to raise AUS $5 billion (£2.65 billion) in funds.
Presenting his upcoming budget, Treasurer Dr Mike Nahan has outlined the potential sale of state gambling enterprise TAB to the private sector for an estimated sum of AUS $600 million (£305 million).
The sale of West Australia TAB had been previously overruled by state premier Colin Barnett and his cabinet who preferred to keep gambling enterprises under state control. Dr Nathan will not only have to convince the West Australia cabinet of the sale, but further justify the asking price for the WA TAB.
Speaking to local news sources Dr Nahan commented that TAB services and operations would be better off under private ownership. The WA enterprise would further benefit from an overhaul and modernisation under new management, which would lead to consumer benefits in both WA online and retail verticals.
“The TAB exists on the product provided by the racing industry – no product, no TAB,” Dr Nahan said.
“It gets about $120 million a year from Racing and Wagering WA. We will continue that flow, guaranteed, at least at that level.If we don’t make more money in the sale than keeping it, we won’t sell it.”
