Racing and Wagering Western Australia (RWWA) acknowledges the announcement today by the WA Government, regarding the sale of the WA TAB.
Prior to COVID-19, the negotiations of the sale were well advanced with TABcorp.
The WA Government and RWWA both engaged productively with TABcorp to fully explore the potential for a mutually beneficial transaction.
The ongoing uncertainty surrounding the impacts of COVID-19 (in-particular the second wave being experienced in Victoria) are a major impediment to progressing negotiations.
As a result, all parties have agreed to disengage from the process until further notice.
The WA TAB sale was designed to test the market with the aim of providing the State’s racing industry with a reform package, to secure its long-term financial future, a sale in the current economic climate would not provide the best possible outcome for the industry.
RWWA will continue to actively manage and drive performance of the WA TAB business in the long-term interest of the Western Australian racing industry.
RWWA extends its greatest appreciation to the State Government and the racing industry for their efforts in supporting the process thus far.