Reading Time: 1 minute
The Western Australian Government has passed TAB Bill 2019, which proposes a new framework to negotiate the sale of the TAB. The passage of bill is expected to boost the Western Australian racing industry.
The TAB Bill 2019, which will be subject to Royal Assent, will trigger a competitive sale process, with an aim of selling the business in 2020. Following the approval of the legislation, the TAB sale process will now move into the transaction phase.
“The passing of the bill means there is now the appropriate legislative framework to negotiate the sale of the TAB and support the Western Australian racing industry, ending years of uncertainty,” the RWA said in a statement.
“Since 2003, RWA has operated the TAB with the goal of maximising returns to the racing industry, the transaction phase aims to continue this commitment by selecting a suitably qualified and capable wagering operator through an open market process.”
The legislative framework outlines a number of new amendments to the Betting Control Act 1954 which will see the introduction of a new licensing system that will replace the current TAB system.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Western Australia Government Passes TAB Bill 2019
