Tote Tasmania Sale Looks To Raise Over A$200m

The boss of Betfair Australia has said his company will ponder a bid for Tote Tasmania after the Tasmanian government announced details of an imminent privatisation process for the state-owned pari-mutuel and fixed-odds operator.Tote Tasmania welcomed the announcement of the sale process unveiled on April 7 by the Tasmanian state government. The timing gives potential bidders the chance to make an expression of interest by next month, with the process expected to be completed by the end of August.

The Tasmanian government announced its intention to sell Tote Tasmania in January after concluding that the public ownership of a wagering business was not a core function of government.

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