03/06/2018 | Press release | Distributed by Public on 03/05/2018 22:03
The detailed analysis of the TAB conducted by Treasury and its commercial advisor, Investec has been finalised.
The report provides several different options outlining how a transaction could be structured to ensure it is in the best interests of both the State and the racing industry.
The McGowan Government has made a clear commitment to conduct thorough consultation with the racing industry before any decision is made about the future of the TAB.
Consultation will be conducted in two phases.
Phase 1 will involve discussions with the Racing and Wagering Western Australia (RWWA) Board and its sub committees representing the three racing codes (thoroughbred, harness and greyhounds).
These discussions will centre on the findings of the analysis and key issues for the racing industry. The issues raised in consultation will be closely considered by the State Government before determining the future direction of the TAB.
These consultations are due to be concluded by April 2018.
Phase 2 will depend upon the outcomes of the first phase. If the Government considers it is in the best interests of the State and the industry to pursue a sale, it will release a discussion paper detailing the proposed approach for public comment.
Comments attributed to Racing and Gaming Minister Paul Papalia:
'The McGowan Government is ending the uncertainty created by the previous government by having conducted a proper and detailed analysis regarding the future of the WATAB.
'Consultation with the racing industry will now occur involving the RWWA Board, its racing code sub committees, wider racing stakeholders and the public.
'We value the racing industry because it creates jobs, supports the broader economy and is a great tourism asset for Western Australia.'
Comment attributed to Treasurer Ben Wyatt:
'Unlike the previous government, we have undertaken the required analysis on the many inter related issues regarding the TAB and will work in close consultation with the racing industry on the best path forward.'
Racing and Gaming Minister's office - 6552 5600
Treasurer's office - 6552 5900