As announced by the Minister for Racing and Gaming (the Minister) and the Treasurer, the State Government has made a commitment to conduct thorough consultation with the racing industry and wider community about the future of the TAB.
The Department of Treasury (Treasury) has worked collaboratively with Racing and Wagering Western Australia (RWWA) to analyse the feasibility of a potential sale of the TAB. Treasury engaged Investec Australia Limited (Investec) as Commercial Adviser to develop a preliminary sale framework and post-sale operating model that included options for commercial terms and transaction structures that balance the interests of the racing industry and the State Government, while being sufficiently attractive to potential bidders.
The subsequent consultation process has been divided in two stages.
Stage one involved discussions with the RWWA Board and its subcommittees representing the three racing codes (thoroughbred, harness and greyhounds), which was conducted from February to April 2018. The below letter signed by each of the racing code specific subcommittee chairs was provided to the Minister at the conclusion of stage one, indicating support for the continued consultation process.
Stage two commences with publication of the below Discussion Paper.
The Discussion Paper provides an overview of how a potential sale of the TAB could be structured. Its purpose is to facilitate discussion and analysis of the key issues and enable the racing industry and other key stakeholders to provide input and feedback.
The Discussion Paper is intended to provide guidance on matters relevant to the potential sale of the TAB, with regard to:
Interested parties are invited to provide feedback on the proposed framework.
Submissions are due by 2:00pm (WST) on 6 August 2018. Early submissions are welcomed.
Electronic copies of submissions are preferred and should be emailed to [email protected].
RWWA has arranged a series of consultation forums for stakeholder groups.
All enquiries may be directed to:Commercial Advisory Department of Treasury(08) 6551 2777[email protected]
Last reviewed: 29 June 2018