Wednesday, 5 November 2008: The Brumby Government is calling for Registrations of Interest (ROI) for a Wagering and Betting Licence, as part of the restructure of the Victorian gambling industry.
Gaming Minister Tony Robinson said the ROI was another important stage in the reform of the gambling sector. Under the new arrangements, a single wagering and betting licence will be offered for a 12 year period. This licence is intended to provide four types of wagering and betting:
„X The authority to offer both parimutuel and fixed odds betting on racing, sports and other events, including the only authority to conduct wagering and betting via a Victorian retail network;
„X The authority to establish and operate the only betting exchange based in Victoria; and
„X A right to offer approved simulated racing games
The announcement of the ROI follows from the Brumby Government¡¦s announcement on Monday of a $45 million boost to infrastructure funding for rural and regional racing, and a 60 per cent drop in wagering taxes post 2012.
¡§These decisions add value to the wagering and betting licence and reinforce this government¡¦s commitment to a growing and viable racing industry in Victoria,¡¨ Mr Robinson said.
¡§Allowing the successful licensee post 2012 to operate simulated racing and a betting exchange provides opportunity for further development of racing related products.
¡§A Victorian based betting exchange will also ensure any economic benefits are retained in this state for use by the Victorian community.¡¨
Mr Robinson said the probity and integrity of the Gambling Licences Review process are considered paramount, with the Review subject to two levels of monitoring.
¡§Both the Independent Probity Auditor and the Independent Review Panel continue to provide oversight and transparency to the licence process,¡¨ he said.
In April this year, it was announced the wagering licence would be separated from the gaming licence post 2012 and would be awarded after a competitive process.
Information on the Gambling Licences Review is available on the website ¡V www.justice.vic.gov.au/gamblinglicencesreview.
Potential applicants wishing to register their interest in the Wagering and Betting Licence are directed to the Victorian Government Tenders website - www.tenders.vic.gov.au.
