Australian Capital Territory to sell off its betting agency amid rising competition

The Australian Capital Territory government is planning to sell its ACTTAB betting agency amidst increasing competition from the online betting market, local media reports. The sale follows a feasibility study carried out by PricewaterhouseCoopers. 

Treasurer Andrew Barr said he will seek the agreement of the Legislative Assembly next week before arranging for ACTTAB to be sold through a competitive bid process. ACTTAB turns over more than $100 million annually, but last financial year delivered only $1 million profit for the Government.