10/05/2018 - 15:35

Landgate, TAB sales still in the offing

10/05/2018 - 15:35

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Treasurer Ben Wyatt said today the government was still working on the proposed sale of land registry service Landgate and gaming agency TAB.

Treasurer Ben Wyatt said today the government was still working on the proposed sale of land registry service Landgate and gaming agency TAB.

“I am confident that we will agree a path forward for the future of the TAB later this year,” he said.

“Our dialogue with industry is going very well.

“I think they are now in a position where they are engaging very well with government and we can agree a way forward."

Mr Wyatt said there was a great level of frustration at the long-running discussions over the future of the TAB, which was flagged for sale by the Barnett government, but he could not proceed until full industry consultation had occurred.

The government said in March it had completed its analysis of potential sale options of the TAB.

A report compiled by Treasury and its commercial adviser, Investec, provided several different transaction options, which have not been released to the public.

Mr Wyatt said Landgate was more complicated but the government was continuing with internal work and looking at developments in other states, with Investec also advising.

The NSW and South Australian governments have sold their land registry services, and the Victorian government is in the process of doing so.  

Investec was the lead adviser to the South Australian government last year when it privatised the state’s land titles service in a bumper $1.6 billion deal.

The NSW government reaped an even larger price of $2.6 billion when it sold its land titles office last year.

Chamber of Commerce and Industry of WA chief executive Chris Rodwell welcomed the government’s confirmation that it will continue to review the sale of Landgate and the TAB.

“Recycling assets will allow the government to pay down debt and invest in new infrastructure that will create jobs and ensure WA’s skilled workforce remains in the state,” Mr Rodwell said.

“We encourage the government to continue to review all state-owned assets for sale, including Western Power, which if partially sold would wipe almost $11 billion off net debt.”

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