Preferred bidder announced
Greenfield (construction) or brownfield (government asset divestment) projects needed or likely to occur within the next five years, but is not formally proposed by a state, territory or major local government.
The project or divestment is supported by a state, territory or major local government, is subject to studies or other processes (such as pre-feasibility or scoping studies or business case development), and is likely to proceed to formal announcement.
The project has a firm commitment and timeline from a state, territory or major local government, but has not yet entered the market.
The project or transaction is under procurement (such as a call for Expressions of Interest, requests for tender, or another offer to the market).
Preferred bidder announced
A preferred bidder has been selected and is in exclusive negotiations.
Projects that have progressed to contractual close remain on ANZIP for 12 months.
ANZIP is focused only on major infrastructure activity, above the following thresholds:
Construction projects: > AUD$300m
Investable greenfield & brownfield: > AUD$100m
All greenfield and brownfield projects and divestments: > NZD $100 million
WA TAB is the principal provider of online and retail outlet wagering services in the State.
Prior to the 2017 March State Election, the Western Australian Government had committed to divest the TAB. The 2016-17 State Budget confirmed that preliminary analysis had been conducted on the approach to a sale of the business.
While, the newly elected Government has a general policy position to retain ownership of the State's assets, it appointed Investec as an advisor on the potential sale of the TAB in September 2017.
In March 2018, the WA Government announced that Investec had completed detailed analysis of potential transaction options for the TAB. The analysis found that it is possible for a transaction to be structured in a way that meets the interests of both the State and the racing industry.
In the 2018-19 State Budget, the Government confirmed that it would conduct a consultation process with the industry on the potential sale process.
Stage one of the consultation process was conducted from February to April 2018, and included discussions with the Racing and Wagering Western Australia (RWWA) Board and its subcommittees representing the three racing codes (thoroughbred, harness and greyhound).
On 29 June 2018, the WA Government commenced stage two of the consultation process, with the release of a discussion paper which provided an overview of how a potential sale of the TAB could be structured, with regard to:
- the proposed commercial structure and contractual agreements;
- the governance model;
- racing industry guarantees and protections;
- the legislative framework; and
- related policy matters.
The WA Government closed consultation on the proposed framework on 6 August 2018.
On 9 October 2018, the WA Government confirmed that it would proceed with the sale of WA TAB. 35 per cent of the sale proceeds will be placed into a racing infrastructure fund.
The TAB (Disposal) Bill allowing for the sale of the asset was introduced into Parliament following the 2019-20 Budget. The Bill passed through the WA Parliament in September 2019.
On 29 September 2019, Expressions of Interest for the sale opened. EOIs close on 28 October 2019. A new operator of the asset is expected to be appointed by mid-2020.
The WA Government has indicated 35 per cent of net sale proceeds will be spent on racing infrastructure, with the remaining 65 per cent to go towards a new women's hospital which will replace the King Edward Memorial Hospital.
Last reviewed: 01/10/2019