11th of January 2009 Author: Glo Wood
The news that the Tasmanian government has started a process to divest itself of the Tasmanian Tote has been followed by a story on the Australian Broadcasting Corporation network that online betting exchange Betfair, which has a joint venture with a major betting group in Australia, may be interested in bidding.
Tasmanian Opposition and Greens Party politicians have reacted angrily to the announcement of the intention to sell, pointing to comments made by state treasurer, Michael Aird late last year that a sale was not planned.
Financial analyst Tom Ellison told ABC that he would expect Tote to fetch up to A$100 million but questioned the government's timing. "It's probably the worst time to try and sell a business considering the global financial situation," he said, adding that a sale to Betfair would make sense.
"Tote already has an agency agreement with Betfair and certainly Betfair would be able to expand some of their Australian operations through Tote," he said, pointing out that Tabcorp is also a potential bidder.
General Gambling News Gambling Law & Society News
1st of June 2016
19th of June 2015
27th of June 2016
26th of June 2016
19th of May 2016
26th of May 2016
25th of May 2016
14th of May 2016
2nd of June 2016
Disclaimer Contact Us Privacy Gambling Help About Us Site Map
LatestCasinoBonuses.com © 2006-2016
Join now for full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
PLUS join now and get...
100% up to $1000 PLUS 25 free spins! Sponsored by ClubUSA Casino, US OK.
View more information here