Victorian Current Acts

GAMBLING REGULATION ACT 2003 - SECT 4.3.13

The licence value in relation to the former licences is the amount calculated in accordance with the formula—

where—

    R     is the amount calculated in accordance with the formula—

but—

        (a)     if the amount so calculated is less than zero, R is zero; and

        (b)     if the amount so calculated is more than 2, R is 2;

    A     is the sum of—

        (a)     the total amount invested in totalisators conducted by the holder of the former licences or an operator appointed by that holder on wagering events during the period of 12 months ending immediately before the former licences ceased to be in force, less dividends paid in respect of that total amount; and

        (b)     the total amount wagered on gaming machines of the holder of the former licences during that period, less amounts returned to players during that period;

    E     is the all groups consumer price index for Melbourne as at the first anniversary of the commencement of the former licences last published by the Australian Bureau of Statistics in respect of the reference period in which that anniversary falls;

    F     is the all groups consumer price index for Melbourne last published by the Australian Bureau of Statistics in respect of the reference period in which, or in part of which, the former licences were last in force or, if such an index has not been so published, the index for the most recent reference period last so published;

    B     is the sum of—

        (a)     the total amount invested in totalisators conducted by the holder of the former licences or an operator appointed by that holder on wagering events during the period of 12 months commencing on the date of commencement of the former licences, less dividends paid in respect of that total amount; and

        (b)     the total amount wagered on gaming machines of the holder of the former licences during that period, less amounts returned to players during that period;

    C     is—

        (a)     if the former licences were the initial licences within the meaning of the Gaming and Betting Act 1994 , the allotment amount within the meaning of section 13 of that Act as in force immediately before its repeal; and

        (b)     in any other case, an amount equal to the amount of the premium payment paid by the former licensee for the former licences;

    D     is the number of years, including part of a year, in the period beginning on the first anniversary of the commencement of the former licences and ending on the last day on which they are in force.