On 1 June 2017, the Minister for Consumer Affairs, Gaming and Liquor Regulation awarded Tatts Group Limited Victoria’s public lottery licence for a period of ten years commencing on 1 July 2018.
Under the terms of the new agreement, Tatts will make a $120 million premium payment when the licence commences.
The licence gives Tatts the exclusive right to run lotteries in Victoria for the next decade.
Public lotteries generated $427 million in lottery taxation revenue for Victoria in 2015-16 and will generate approximately $4 billion over the full ten-year licence term.
Public lottery taxation is paid into the Consolidated Fund and then to the Hospitals and Charities Fund and the Mental Health Fund.
Tatts also holds the current public lotteries licence, which expires on 30 June 2018.
The Gambling and Lotteries Licence Independent Review Panel (the Panel) was formed in accordance with the Gambling Regulation Act 2003 (Vic) (the Act) to independently and publicly report on the gambling licensing processes under the Act as well as relevant regulatory reviews.
The key objective of the Panel is to oversee the integrity of the gambling licensing processes.
The Panel is required to produce a report on the lotteries licensing process and this report was tabled in Parliament on Tuesday 8 August 2017.