retain ownership of key parts of its lotteries business

Australia’s New South Wales Treasurer Eric Roozendaal
said Wednesday the state government has introduced legislation that will enable it to retain ownership of key parts of its lotteries business when it is sold to the private sector.

Under a proposed transaction, the government will retain ownership of the intellectual property and a A$300 million per annum revenue stream from gaming duties.

NSW Lotteries employees will also be offered the choice of remaining in the public sector when the business is sold or transferring to the new operator.

Roozendaal in April said the government plans to offer licenses for 30 years or lon ger for the distribution of NSW Lotteries products.