Western Australia government to sell off TAB WA
News on 9 Oct 2018
News on 9 Oct 2018
The government of the Western Australian province is introducing far-reaching gambling reforms, spokesmen revealed Tuesday, specifying the privatisation of TAB WA (the last TAB held by an Australian state government) and the implementation of a 15 percent point-of-consumption tax on online bookmakers accessing WA punters.
Local media reports indicate that the privatisation of TAB represents a significant political backflip by the Labour Party which has consistently opposed such a sale in the past.
The WA racing industry will receive 30 percent of total revenue collected from the tax on bookmakers’ GGR and 35 percent of the TAB sale proceeds will go into a dedicated racing infrastructure fund.
The purchase price for TAB WA has yet to be announced.
The p.o.c. tax was announced in the state government’s first budget but legislation will be introduced to parliament this week with the system expected to be in place by January 1, 2019.
Describing the reforms as the most significant in state racing industry, Treasurer Ben Wyatt said:
“This package also goes well beyond our initial commitment of leaving the industry no worse
off, in fact these reforms will result in our racing industry being significantly better off.”
Racing and Gaming Minister Paul Papalia added that the majority view of the WA racing industry was that selling the TAB was in the best interest of the industry across the state.
“The reforms deliver an ongoing funding stream for the industry that will increase in line with future growth in wagering in Western Australia, including from online betting,” he said.
Opposition racing and gaming spokesman John McGrath said it was possible the sale of the TAB could see receipts of around A$100 million into the racing infrastructure fund.
WA TAB Agents’ Association president Jeff Miles conditionally welcomed the announcement but wanted to see protections for the 120 small businesses who have A$40 million in their physical TAB locations.
“TAB agents understand that a private operator will most likely be better suited to an increasingly disrupted retail environment, however it is crucial that the government engages meaningfully as the sale proceeds and protects these small businesses, which generate 33 percent of the TAB’s revenue,” he said.
News on 9 Oct 2018
The government of the Western Australian province is introducing far-reaching gambling reforms, spokesmen revealed Tuesday, specifying the privatisation of TAB WA (the last TAB held by an Australian state government) and the implementation of a 15 percent point-of-consumption tax on online bookmakers accessing WA punters.
Local media reports indicate that the privatisation of TAB represents a significant political backflip by the Labour Party which has consistently opposed such a sale in the past.
The WA racing industry will receive 30 percent of total revenue collected from the tax on bookmakers’ GGR and 35 percent of the TAB sale proceeds will go into a dedicated racing infrastructure fund.
The purchase price for TAB WA has yet to be announced.
The p.o.c. tax was announced in the state government’s first budget but legislation will be introduced to parliament this week with the system expected to be in place by January 1, 2019.
Describing the reforms as the most significant in state racing industry, Treasurer Ben Wyatt said:
“This package also goes well beyond our initial commitment of leaving the industry no worse
off, in fact these reforms will result in our racing industry being significantly better off.”
Racing and Gaming Minister Paul Papalia added that the majority view of the WA racing industry was that selling the TAB was in the best interest of the industry across the state.
“The reforms deliver an ongoing funding stream for the industry that will increase in line with future growth in wagering in Western Australia, including from online betting,” he said.
Opposition racing and gaming spokesman John McGrath said it was possible the sale of the TAB could see receipts of around A$100 million into the racing infrastructure fund.
WA TAB Agents’ Association president Jeff Miles conditionally welcomed the announcement but wanted to see protections for the 120 small businesses who have A$40 million in their physical TAB locations.
“TAB agents understand that a private operator will most likely be better suited to an increasingly disrupted retail environment, however it is crucial that the government engages meaningfully as the sale proceeds and protects these small businesses, which generate 33 percent of the TAB’s revenue,” he said.
