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.