Betfair, Tabcorp Could Bid on Tote Tasmania, Analyst Says

13 January 2009

After the Tasmanian Government announced last week the potential sale of Tote Tasmania, one analyst sees Betfair and Tabcorp as possible bidders, according to the Australian Broadcasting Corporation.

Tom Ellison, a financial analyst, was quoted by the news service as saying a Betfair sale would “make sense” because of the companies’ already established relationship.

The announcement has also angered the Opposition.

The Opposition’s racing spokesperson, Jeremy Rockliff, was quoted by the Australian Broadcasting Corporation as saying the sale will be “damaging” to the region’s racing industry.

“(It is a) desperate decision to prop up their poor financial record coming up to the next state election,” Mr. Rockliff added.