On Thursday, Michael Aird, minister for racing for the Tasmanian Government, announced that it will sell Tote Tasmania.
Prior to the sale the government will seek parliamentary approval to amend the Gaming Control Act 1993 to bring the regulation of tote under the Tasmanian Gaming Commission, Mr. Aird said in a prepared statement.
“Maintaining a wagering business in public ownership is not a core function of government,” Mr. Aird added. “The divestment will help in improving tote’s competitive position compared to the other privatized TABs in New South Wales, Queensland, Victoria and South Australia.”
According to Mr. Aird, proceeds from the sale will be reinvested into other state assets. He said he hopes to have it finalized by the end of June 2009.