West Australia’s TAB grows amid potential sale

Recent gambling results in West Australia has the TAB turning into a much more attractive business acquisition.

Australia.- Racing and Wagering WA promised €103.8 million to the industry’s racing, chasing and pacing codes as the TAB Bill 2019 is debated. The figure is up €6.5 million on last year’s total and up from €84.6 million in 2016.

RWWA chief executive Richard Burt said TAB’s status as an attractive business acquisition increased.

“WA racing is competitive nationally and people are betting on it, we’ve got reasonable performance coming out of the WA TAB and our tax income is as per plan,” he said.

“The market in WA, consumer confidence and general economic activity is still pretty flat, but we’ve still come up with a €6.7 million increase. We also expect to make a surplus on top of that next year.

“We’re pretty confident the €6.7 million is sustainable and it should be able to be delivered year-on-year. It’s still a very attractive asset because the TAB is a solid business with a very exclusive licence.”