Ladbrokes out of Tote Tasmania race; Victoria licence possible
Ladbrokes will not buy Tote Tasmania from the state government but has not ruled out bidding for the Victoria wagering licence to be awarded early next year, the company has said.
Ladbrokes will not buy Tote Tasmania from the state government but has not ruled out bidding for the Victorian wagering licence to be awarded early next year, the company has said.
A Ladbrokes spokesman said: “We look at lots of opportunities internationally, and while Australia is an interesting market for us we think the Tote Tasmania opportunity may be more suited to existing Australian operators.”
Ladbrokes’ withdrawal from the Tasmanian process is believed to leave Betfair, Tatts Group and Tabcorp in the running to bid for the assets of the Tote and the Tasmanian gaming licence, which are available for between AU$200m and AU$500m.
However, the spokesman refused to rule out a Ladbrokes bid for the Victorian wagering licence, which is currently held by Tabcorp and is due to expire in 2012, and in which Ladbrokes officially registered an interest in January of this year. The conditions of the process mean Ladbrokes is unable to comment in more detail, he said.
But as recently reported on EGRmagazine.com, Ladbrokes’ UK white list status means the Tote Tasmania wagering licence could be worth more than the Victorian licence.