The McGowan Government has decided to terminate the market process for the sale of the Western Australian TAB.
The State Government will retain ownership of the WA TAB and it will continue to be operated by Racing and Wagering Western Australia (RWWA) in the State’s interests.
After prudent and exhaustive efforts, it has become clear that agreement cannot be reached on terms that will ultimately be consistent with the Government’s objectives to ensure the sale is in the long term interest of both the State and racing industry.
In October 2021, after the initial sale process was halted due to COVID-19, at the request of the RWWA the Government announced the commencement of a new sale process with a view to supporting an independently sustainable and competitive industry.
Expressions of Interest were initially sought from the market, followed by an intensive Request for Binding Offers stage with three Selected Respondents. Within the last month, the Government progressed negotiations with a Preferred Respondent, who ultimately failed to confirm the necessary financial commitments to support its offer.
Top Australian Brokers
- City Index - Aussie shares from $5 - Read our review
- Pepperstone - Trading education - Read our review
- IC Markets - Experienced and highly regulated - Read our review
- eToro - Social and copy trading platform - Read our review
The sale of the WA TAB requires the balancing of the interests of the racing industry and WA taxpayers, with the commercial realties of the market.
Through the process it has become clear that the long-term interests of both the State and racing industry cannot be met from the current status of offers presented by respondents.
On this basis, the McGowan Government has decided to retain ownership of the WA TAB and RWWA will continue to operate the WA TAB to the benefit of the local racing industry.
