Racing and Wagering Western Australia (RWWA) welcomes the passing of the TAB (Disposal) Bill 2019 yesterday in Parliament.
RWWA is appreciative of the State Government, the Parliament and the racing industry’s efforts towards achieving this important milestone.
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.
Following the approval of the legislation, the TAB sale process will now move into the transaction phase.
Since 2003, RWWA 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 successful Operator will be required to enter into a formal contractual arrangement called a Racing Distribution Deed (RDD) which the RWWA Board, on behalf of the Western Australian racing industry, must approve.
Following the execution of the RDD between the Operator and RWWA, the Minister is then able to issue the Wagering License to the Operator to commence operations.
RWWA will continue to consult with the racing industry throughout the transaction phase via the Racing Code Committees and Eligible Bodies.