The privatization of TABs continues in Australia. The Victoria and New South Wales TABs have already been sold, while the sale of Queensland's TAB could come soon. The latest agency to go up for sale is the Northern Territory TAB, and Reuters reports that it has garnered as many as 15 bidders.
Among bidders are Consolidated Gaming Corp. Ltd., Mark Read's International All Sports, and a number of international companies. Even Jupiters, Ltd. and Tabcorp Holdings Ltd. are considering an offer for the TAB. "Our core business is wagering and we intend to defend our patch... I think every TAB has been mentioned for float except Western Australia," TAB Managing Director Warren Wilson said. "We'll look at each individual case."
According to Reuters, the strong interest in purchasing the agency could drive its price as high as A$15-20 million.
Financial advisers to the Northern Territory government are handling the sale.
November 9 was the cutoff date for bids, and now the whittling process begins.