Pokies auction nets almost $1b for govt

Pokies auction nets almost $1b for govt

11 May 2010

published by news.smh.com.au

Australia — The Victorian government has raised almost $1 billion from the auction of poker machine licences.

Gaming Minister Tony Robinson said $981 million had been raised during the bidding process for Victoria’s 27,500 poker machines.

Most of the money will be pumped into health, with the remainder funding bushfire initiatives.

The auction for the 10-year licences, which breaks the current duopoly, ended on Monday.

Mr Robinson said the new venue owner model would usher in an era of more responsible gaming with stricter controls and no “super profits” for operators.

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