By MIKE DILLON
TAB boss Rick Bettle says rumours circulating that the betting agency is owned by the Government not by racing clubs, are absolute nonsense.
Bettle responded quickly yesterday when it was suggested loopholes in the Racing Bill 2001 allowed Government ownership of the TAB.
"This assertion is fundamentally wrong," said Bettle. "The Racing Bill 2001 is neither a privatisation nor a nationalisation of the TAB.
"The Bill leaves control of the TAB firmly in the hands of the racing industry, which is exactly the position the TAB is is right now. The Racing Bill does not confer ownership of the TAB to Government."
Bettle said it was important to understand that under the Racing Bill, the term "TAB" will continue to exist only as a brand name for betting services.
"Both the TAB and the New Zealand Racing Industry Board will be replaced by a new combined board, the New Zealand Racing Board.
"The actual TAB as we know it today will become part of the NZRB. The Bill will transfer the assets of the TAB directly to the NZRB."
Bettle said the Racing Industry Board is aware some sector groups seek further clarification of the ownership issue.
"But one thing is absolutely clear, no matter what your position on ownership is, the Racing Bill 2001 is not the place to seek further clarification of TAB ownership."
Racing: TAB boss scotches control rumours
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