ACTTAB Sale Announced
The ACT Government has determined to sell ACTTAB Corporation following careful consideration of the recommendations made in the ACTTAB Future Options Feasibility Study.
The study, undertaken by PricewaterhouseCoopers, outlined a compelling argument for a sale. As the smallest TAB in the country, ACTTAB has become increasingly vulnerable to market changes in the form of increasing competition and technological advances.
The Government will seek the agreement of the ACT Legislative Assembly next week before arranging for ACTTAB to be sold through a competitive bid process in order to achieve a fair and reasonable price.
The successful bidder will need to demonstrate they have the appropriate experience and capacity to operate a wagering business including meeting the necessary regulatory requirements to operate ACTTAB's exclusive wagering licence.
The Government is committed to ensuring staff are treated fairly. As part of the sales process, the Government will be seeking, where possible, for staff to retain their jobs under existing conditions. Bidders will be asked to provide details about their terms and conditions of employment and staffing intentions. This information will be taken into consideration when evaluating proposals.
The Government is also committed to ensuring the local racing industry is not negatively affected by the sale. Bidders will also be asked to identify how they would be prepared to support the local racing industry. This information will also be considered in the evaluation process.
We will now appoint expert sales advisors to assist in this process and intend to complete the sale this financial year.
Media contact: Kurt Steel 0423 212 943
- Statement ends -
Section: Andrew Barr, MLA | Media Releases