Want to buy a TAB? Tasmania is selling its totalisator, TOTE Tasmania.Treasurer Michael Aird on Thursday announced the state government's intention to sell it through a competitive bid process by the end of June."Maintaining a wagering business in public ownership is not a core function of government," Mr Aird said.Regulatory changes will be made so that the tote's new owner will be accountable to the Tasmanian Gaming Commission and pay wagering tax directly to consolidated revenue."I can guaran
Want to buy a TAB? Tasmania is selling its totalisator, TOTE Tasmania.
Treasurer Michael Aird on Thursday announced the state government's intention to sell it through a competitive bid process by the end of June.
"Maintaining a wagering business in public ownership is not a core function of government," Mr Aird said.
Regulatory changes will be made so that the tote's new owner will be accountable to the Tasmanian Gaming Commission and pay wagering tax directly to consolidated revenue.
"I can guarantee that the Tasmanian racing industry will not be worse off by these arrangements," he said.
The government will separately fund the racing industry and over the coming months a long-term funding model will be developed in consultation with the new Tasmanian Racing Board and TOTE Tasmania, he said.
Mr Aird said sale proceeds will be reinvested into other state assets.
"The divestment will help in improving TOTE's competitive position compared to the other privatised TABs in NSW, Queensland, Victoria and South Australia," Mr Aird said.
Only Western Australia and the ACT still with government-owned totalisators.