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Parliamentary Questions

Question Without Notice No. 923 asked in the Legislative Council on 10 October 2018 by Hon Jim Chown

Parliament: 40 Session: 1

Answered on 10 October 2018

TAB — PRIVATISATION

923. Hon JIM CHOWN to the minister representing the Treasurer:

(1) What is Treasury's estimated value of the TAB now that it is going to be privatised?

(2) Who are the likely purchasers of the TAB?

(3) Will there be any restrictions on the sale of the TAB to give priority to national buyers over international buyers who may be interested in submitting a purchase tender once the legislation has passed through the Parliament?

Hon STEPHEN DAWSON replied:

I thank the honourable member for some notice of the question.

(1) The government will not be disclosing what it believes the TAB is worth, as this would clearly not be in the state's or the racing industry's best interests.

(2) It is expected that the bidder field will include existing wagering operators that have experience in the Australian market. The government will assess bidders on their capability and capacity to operate the TAB in the long-term interests of the racing industry.

(3) The government will run an open market process that is compliant with Foreign Investment Review Board processes.