We’re waiting for the media release but the Chief Minister has tweeted she’s thinking of getting rid of the local betting agency:
ACT Govt will be considering the sale of ACTAB following PWC report into future options #canberra #actpol
— Katy Gallagher (@SenKatyG) September 26, 2013
Hopefully they think hard and fast and do it while the concern is still worth something.
It’s a pity as the wind’s been clearly blowing against local agencies for a very long time.
UPDATE: The Chief Minister’s media release is now available:
The PricewaterhouseCoopers Study outlines a compelling argument for a sale. The Study states that ACTTAB faces increased competition, and that its ability to grow in the face of this is constrained by its size. The Study states that under the status quo ACTTAB would require considerable Government investment in coming years to remain competitive, which would deliver minimal extra revenue.
While no final decision has been made, the Government has agreed to further consider a sale. As by far the smallest TAB in the country ACTTAB is vulnerable to increased competition, and as it continues to lose market share the value of the business will continue to decline. However, a sale can help secure the future of ACTTAB and its employees, and ensure it is better placed to respond to market changes as part of a larger organisation.
From here, we will consult with staff, industry and unions about the Study, and in particular about the sale option. We want to hear their views about the future of ACTTAB.
The PWC Study is also available.
