By Annette Shailer in Melbourne
The Victorian Gaming Machine Briefing in Melbourne today (June 24) discussed pending gaming machine legislation to be rolled out across the state in 2012.
The legislation is the largest single overhaul of gaming regulation in the state’s history. It will take control away from Tatt’s Group and Tabcorp Holdings and put the 13,750 gaming machine entitlements in the state up for auction.
Each club can purchase 100 per cent of its machine up to 40 machines and the rest of the machines will be auctioned to the highest bidder.
With the exact details of the process still rolling out, Victorian clubs and hotels are being advised to go www.gamblinglicences.vic.gov.au for updates.
The briefing included information from Channel 9 finance editor Ross Greenwood, ClubsVic CEO Margaret Kearney, representatives from five of the major industry giants and former Victorian premier Jeff Kennett.
“The system is designed to maximise the price of entitlements, not designed to allow those with entitlements to maximise business,” Kearney said.
Kennett encouraged the industry to plan not just for 2012 but beyond it as well.
“2012 only gets you to the farm gate,” he said. “You’ve got to open those gates, open the paddock and plan for what comes next. Good luck and good business. The future is always a lot more exciting than the past.”