Thursday, April 09, 2009
Tasmania Tote sale

The government of Tasmania, Australia, has revealed the legal conditions for the sale of the state's tote.

The buyer of the tote license would obtain a 50 year licence with an option to renew for a further 49 years. It would pay zero tax, but a flat wagering levy of AUS$6 million a year.

The tote will not directly be responsible for the financing of the state's racing idustry. This would be done through a state fund.