Skip to main content

ToteTasmania sale going nowhere for now


Betfair, Ladbrokes, TABCorp and others have all pulled out or had offers rejected. What happens now? The price did seem a bit rich given the current economic climate, and particularly the changing wagering landscape in Australia.

Tote Tasmania's sale plan in turmoil


The Tasmanian Government may float the state’s Tote on the stock market after failing to find a buyer during a protracted bidding process.

In a statement, Treasurer Michael Aird said two binding formal bids received when the window for formal tenders closed last week did not value Tote Tasmania at a “fair and reasonable” price.

However, he insisted the sales process would continue on the open market and could possibly involve a public float.

He said abandoning the private bidding process after months of haggling sent a message that the Tote would not be sold cheaply.



Do they hold their cards, hoping that changing legislation works in their favour so they can achieve that sale price eventually, or do they need to get a move on before any value they have is eroded by further deregulation of the Australian market?

Comments

Popular posts from this blog

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

The Melbourne Cup preview 2019

We're back again for the greatest race on turf, the world's richest staying race and the only race in the world which creates a public holiday for millions of locals.




Once again a fine international field has been assembled and it's worth a deep look at the race. So get a cuppa and find a comfortable seat to plough your way through my preview!

--------------------------------

The Lexus Melbourne Cup
Group 1, Handicap, 3200m
AUD 7,750,000
Flemington 1500 local, 0400 GMT
Broadcasters - Network 10 (AUS), Racing.com (worldwide), SkySportsRacing (UK)


1. Cross Counter
Trainer - Charlie Appleby (one previous Cup win)
Jockey - William Buick
Breeding - Teofilo - Waitress
Drawn 5, Weight 57.5kg

Last year's impressive winner who doesn't get the 3yo weight advantage this time. Won first up at Meydan in March but has run fourth, third, fourth in the big set weights staying races in England and Ireland, never quite making it as the next big staying star. While running close behind Stradivar…

hope for investors in the Centaur scandal?

In a breaking story, it has been reported that directors of the failed sports investment fund Centaur have had their assets frozen in order to repay investors. It is believed that managing director Keith Sobey skipped town trying to avoid prosecution however he either naively thought Ireland was a safe enough place to hide or had a lingering feeling of guilt and sat waiting for that knock on the door.

Sobey, the name behind Centaur (read the original story here), is believed to own four houses, worth more in total than the missing £1.6m. His willingness to sell them to repay investors is likely to keep the matter out of the courts, and at least one other director, Andrew Cork, will apparently follow suit.

All this adds weight to anecdotal evidence that the collapse of the fund came down to mismanagement rather than fraudulent deeds. As costs grew (why would you set up a training academy in central London?), margins evaporated and keeping the business afloat went through money like a…