Friday, January 09, 2009
Australian tote sale

The Treasurer of Australian state Tasmania announced the sale of the government owned tote by 30 June 2009. According to the government, "maintaining a wagering business in public ownership is not a core function of government".

The tote will be sold in a competitive bidding process. After privatisation, the tote will be controlled by the Tasmanian Gaming Commission.

The government will develop a new funding model for the racing industry, which is much dependend on tote revenues today.