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Sale of SA Lotteries Expected this Year

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The government of South Australia has announced its intention to sell off its
SA Lotteries brands
to the private sector later this year, with a view of
becoming solely a gambling regulator rather than also being a gambling operator.

The announcement was not unexpected considering that in June 2011 South
Australia Treasure Jack Snelling made public the state’s intention to license
its lucrative SA Lotteries to a private firm or consortium in the near future.

The sale of SA Lotteries, which will be overseen by leading specialist bank
Investec, will be in the form of an open tender process and is expected to
attract many interested parties who recognise the money-making potential of the
long-established lottery operation.

SA Lotteries is Expected to Fetch AUD$400 Million

One such interested party is leading domestic gaming firm Tatts Group, which has
reportedly not balked at the hefty AUD$400 million price tag that SA Lotteries
is expected to go under the hammer for in the second part of this year.

And the reason is plain to see, because as part of the SA Lotteries sale, the
successful purchaser will gain ownership of a host of popular lottery draws and
related games such as Powerball, Oz Lotto, X Lotto, Super 66, The Pools, Instant
Scratchcards as well as Keno.

Even though 97c of every dollar spent on SA Lotteries draws and games is
earmarked for good causes and charities in the state, the business will still
prove to be a massive money spinner for the lucky company that closes the sale.

Said Snelling about the proposed sale of SA Lotteries: ‘Investec has significant
experience in government projects with a strong focus on lottery and gaming
transactions and were the lead sales advisory to the Tasmanian Treasury on the
sale of TOTE Tasmania.

‘Over the past 10 years, Investec’s team has developed a strong history of
experience in the Australian gaming industry, including playing key roles in the
sale of NSW Lotteries and the TAB transactions in NSW, the NT and Queensland,’
he said.

State to Continue to Benefit from SA Lotteries Funding

The South Australian politician also confirmed that post-sale, the state would
continue to ensure that citizens of the state would continue to receive the
benefits of the funds generated by SA Lotteries’ various products and services.

‘The Government will continue distributions to the Hospitals and Recreation and
Sport funds and protect the business interests and growth opportunities of SA
Lotteries’ agents,’ he explained.

‘I am also committed to protecting the business interests and growth
opportunities of SA Lotteries and building on a well-known South Australian
brand, which will continue to benefit all in this State.’

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