Three Finalists For Vic Wagering Licence
- Thursday, 29 July 2010 04:16
British betting giant Ladbrokes is one of three companies short-listed to take over Victoria's multi-billion dollar wagering licence.
Ladbrokes, which calls itself the world's largest fixed-odds betting company, will compete for the licence with long-term licence holder Tabcorp and Tatts Group.
Tabcorp, previously the TAB, has had a monopoly on off-course betting in Victoria for 50 years.
The three were short-listed from a field of local and international gambling operators to compete for the 12-year wagering and betting licence from 2012.
The state government will award the licence later this year.
Racing Victoria Limited (RVL) says it's pleased a decision is imminent and welcomes the strong field of candidates.
"The post-2012 wagering joint venture will be vitally important to securing a growing and viable racing industry so we are keen to see the licence awarding process completed as soon as possible and give the industry certainty about its future partner," RVL chief executive Rob Hines said.
Gaming minister Tony Robinson said Victoria's wagering and sports betting industry was worth more than $4 billion a year and it had attracted interest from some of the biggest and most established wagering ventures in the world.
"The level of interest shown is a testament to the strength and prestige of Victoria's racing industry," Robinson said.
The 12-year wagering and betting licence will provide:
* The right to offer both parimutuel and fixed-odds betting on racing, sports and other events, including the only authority to conduct wagering and betting via an off-course retail network;
* The right to establish and operate the only betting exchange based in Victoria;
* The right to offer approved simulated racing games.
