Tattersall Loses Lottery Monopoly

AUSTRALIA – As reported by the Australian: "The Victorian Government will today open up for tender gambling giant Tattersall's long-held monopoly lotteries licence, in a move that will probably weigh on the upcoming $2 billion-plus float of the secretive 120-year-old business.

"And in a bid to encourage competition for the licence, the Government is expected to remove the legislative ban on Tattersall's poker machine rival Tabcorp holding a lotteries licence.

"The Government is expected to invite other parties to bid for the licence. Alternatively, it could expand the number of licences to introduce ongoing competition.

"…If the licence is opened to tender it could attract interest from overseas operators.

"Local operators in other states are statutory bodies, so unlikely to bid, though private interests could emerge.

"…Tattersall's lotteries licence expires at the end of 2007. The private trust has continuously operated the Victorian State lottery since 1954…"