HASTINGS newsagents have reacted cautiously to the sale of NSW Lotteries.
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The state government announced yesterday the sale of the lotteries company to the Victorian-based Tatts Group, in a deal worth more than $1 billion.
Blair’s Newsagency’s Peter Thompsett said it was onwards and upwards for the Port Macquarie shop after the announcement of the sale.
Mr Thompsett said the Tatts Group had a history in the industry and would work well with newsagents.
Westport Newsagency’s Scott Oxenford said, given the circumstances, the announcement of Tatts as the new owner of NSW Lotteries was a “fair result”.
Chris and Fiona Genders own two newsagency’s in Port Macquarie.
“Its not a good thing that the government has sold off a public asset. However, from a business point of view, it will be a good thing for newsagents that NSW Lotteries is being sold to an experienced operator,” Mr Genders said.
“With assistance from the Australian Newsagents Federation, strict conditions have been included in the sale that gives good protection to newsagents and the public.”
But co-owner of the North Haven Newsagency and Post Office Paul Heather said the decision to sell the lotteries was “all very sad”.
“The NSW Government is selling the family silver,” Mr Heather said.
Mr Heather said when the government was behind NSW Lotteries people felt more secure.
NSW Treasurer Eric Roozendaal said the Tatts Group had a strong track record in the lottery and gaming sector.
Mr Roozendaal said NSW taxpayers would continue to benefit from the payment of duties from the sale of NSW Lotteries’ products, which was $330 million last financial year.
Tatts’ chief executive Dick McIlwain said the acquisition of NSW Lotteries was a logical and natural extension of its lotteries businesses across Australia.
Under the deal, present vendor rights have been guaranteed for five years.
Port Macquarie MP Peter Besseling voted against a bill to sell the public asset when it passed through the lower house of parliament last year.
Mr Besseling is concerned about the viability of local newsagencies and the effect the sale will have on their day-to-day operations and profitability.
“Given that this is a done deal, I urge the government to consider funding to resolve the urgent pressures upon regional hospitals such as Port Macquarie rather than concentrating solely on the government’s latest metro-centric transport plan,”Mr Besseling said.
The Tatts Group is the only non-government lottery operator of its kind in Australia.
The company has lottery operations in five states and accounts for more than half of all lottery sales in Australia.