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Tabcorp plans to take over Australia’s last state-owned betting firm

Niji Narayan

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Tabcorp plans to take over Australia’s last state-owned betting firm
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Tabcorp, a premier gambling company based in Australia, has announced its willingness to bid for Western Australia’s TAB business. The state government had already declared that the business is available for purchase, for an estimated amount of around A$500m (€310m/$353m/£270m).

Western Australia’s TAB is the last remaining government-owned betting agency in Australia. State Treasurer Ben Wyatt explained details of the bidding proposal.

Tabcorp, Australia’s biggest gambling company, said in a submission to the state government, published on Tuesday, that it would be “ready to respond” to a sale process. Tabcorp and Tatts – which have since merged – both held talks about buying the TAB more than three years ago. The sale was first mooted four years ago, and the TAB was officially listed for sale in the state’s 2015 budget, but political squabbling and divisions within the racing industry led to delays.

Under the sale, TAB outlets would for the first time be able to offer popular virtual animated horse and greyhound horse racing products. The sale of the TAB comes as Wyatt also announced the sale of the electricity grid in a bid to boost state coffers.

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