triplev123
07-19-2011, 07:22 PM
New wagering and betting licence to benefit Victorian racing industry
19 July 2011
by Victorian Government
http://www.harness.org.au/news/images/logos/VIC-2.gif
http://www.harness.org.au/news/images/main/4746.jpg
http://www.youtube.com/watch?v=kRW7pITY5Cg
"Hey Rocky, watch me pull a Rabbit outa my hat" ...Victorian Minister for Racing, Dr Denis Napthine.
Victoria’s racing industry and taxpayers will reap big benefits from the Victorian Coalition Government’s decision announced today to award the new Wagering and Betting Licence to Tabcorp Wagering (Vic) Pty Ltd.
The new 12-year licence, which commences in August 2012, allows the licensee to conduct pari-mutuel and fixed odds betting, operate the only off-course retail network in Victoria, establish and operate a Betting Exchange in Victoria to support account based betting and conduct approved simulated racing events.
As part of the licence terms, Tabcorp will make an up-front premium payment to the Coalition Government of $410 million.
“This is an outstanding result and will achieve the quinella of excellent value for money for this asset and a fair deal for the racing industry,” Mr O’Brien said.
“As the successful licensee, Tabcorp will be responsible for delivering the entertainment, jobs and social benefits that Victorians expect of the wagering industry.”
Mr O’Brien said Tabcorp was chosen following extensive evaluation of two very strong bids and had clearly demonstrated the required expertise.
Minister for Racing Denis Napthine said today’s announcement would further secure the financial future of Victoria’s racing industry by delivering increased revenue in real terms above current arrangements.
“The Victorian racing industry and Tabcorp will work together for the future of the industry,” Dr Napthine said.
“Tabcorp has made a binding offer to the racing industry that is no less favourable than the current arrangements and the two parties will commence negotiations immediately to finalise the terms of their joint venture arrangements.
19 July 2011
by Victorian Government
http://www.harness.org.au/news/images/logos/VIC-2.gif
http://www.harness.org.au/news/images/main/4746.jpg
http://www.youtube.com/watch?v=kRW7pITY5Cg
"Hey Rocky, watch me pull a Rabbit outa my hat" ...Victorian Minister for Racing, Dr Denis Napthine.
Victoria’s racing industry and taxpayers will reap big benefits from the Victorian Coalition Government’s decision announced today to award the new Wagering and Betting Licence to Tabcorp Wagering (Vic) Pty Ltd.
The new 12-year licence, which commences in August 2012, allows the licensee to conduct pari-mutuel and fixed odds betting, operate the only off-course retail network in Victoria, establish and operate a Betting Exchange in Victoria to support account based betting and conduct approved simulated racing events.
As part of the licence terms, Tabcorp will make an up-front premium payment to the Coalition Government of $410 million.
“This is an outstanding result and will achieve the quinella of excellent value for money for this asset and a fair deal for the racing industry,” Mr O’Brien said.
“As the successful licensee, Tabcorp will be responsible for delivering the entertainment, jobs and social benefits that Victorians expect of the wagering industry.”
Mr O’Brien said Tabcorp was chosen following extensive evaluation of two very strong bids and had clearly demonstrated the required expertise.
Minister for Racing Denis Napthine said today’s announcement would further secure the financial future of Victoria’s racing industry by delivering increased revenue in real terms above current arrangements.
“The Victorian racing industry and Tabcorp will work together for the future of the industry,” Dr Napthine said.
“Tabcorp has made a binding offer to the racing industry that is no less favourable than the current arrangements and the two parties will commence negotiations immediately to finalise the terms of their joint venture arrangements.