The Wrest Point in Tasmania is the only casino allowed to operate in the state.
Australia.- Tasmania Government will confirm before Easter if casino monopoly will continue in the state. The Wrest Point is the only casino to legally operate in the state. If the Tasmanian government changes its gambling policy allowing new casinos to enter the marketplace, Federal Group, the Wrest Point casino owner will suffer the consequences.
The group has an exclusivity agreement with the government that will expire in 2018. Federal Group CEO promised to invest AUD70 million (US$50.47 million) renovating the casino, provided that the government was willing to confirm at the earliest the extension of the exclusive contract.
The feedback provided by the government’s Treasury division is key as the Federal Group is responsible for generating a significant amount of revenue. On its part, the states Hospitality Association wants the government to break the exclusivity contract with the Federal Group.
Treasurer Peter Gutwein said: “We have advice before us, there will be no secret deals, the Government will clarify its position within the next six weeks, and then Tasmanians will have the benefit of an open and transparent process.”