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.
The much needed fund raised from this sale will now to funnelled into areas such as the health care system and bushfire initiatives.
The pokie licence was for a ten year contract and was set to be auctioned off, the bidding ended/closed yesterday at midday.
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.