Australian Gambling – RACING Queensland has released a prospectus to leading national and international wagering operators, seeking a new ‘bricks and mortar’ retail partner for 2014 and beyond.
The racing body is exploring alternatives to the system it currently runs – with Tatts as the ‘bricks and mortar’ retail outlet – and hopes to change the industry and the way Australians place their bets
RQ has operated under the traditional model whereby the funding has been derived from a single race wagering operator. The opportunity it is now presenting, along with a new race wagering licence, is for someone with fresh, innovative ideas to change the marketplace.
The Tatts Group currently owns the exclusive rights to Queensland’s retail outlets. These rights will expire on June 30 this year. Racing Queensland hopes to have a new licence finalised with the State Government by July 1.
Tatts pays the Queensland racing industry a product fee in return for retail exclusivity. In 2013, the product fee paid amounted to $131 million before offsets.
In a statement made today, Tatts said that they are currently in negotiations to extend their retail operation beyond 2014.
