Image for Tasmania’s Farrell family moves up in Australia’s rich list

*Pic: From ‘Team Mulawa’ here: “Greg Farrell Jr, “Mr. Mulawa”: Greg is by nature very hands-on – activity done translates into learning and understanding – and he still applies this essential quality to the horses with ambitious zeal and earnest dedication. Greg is a natural horseman – his innate affection for and confident ease with horses is readily apparent in his daily interaction with the horses at every level. Although Greg’s primary vocational responsibility has always been Managing Director of Federal Group (the highly successful and widely respected Australian owned family business and the world’s second oldest hotel group), he always finds quality time for the horses. He remains integrally involved with all the handling and training of the Mulawa Arabians, from early breaking through the professional turn out of top level show ring performers in hand. (Pictured with ADVENT) “

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Greg Farrell, Federal Group MD

The Tasmanian family behind casinos and high-end hotels in the state has moved up one place on a list of rich Australian families.

Business Review Weekly (BRW) put the Farrell family at number 29 on its family rich list and assessed their wealth at $463 million, up from $415 million last year.

Operating as the Federal Group, the family owns two Tasmanian casinos and has a monopoly on gaming licences in the state.

BRW rich list editor John Stensholt said: “A lot of it’s in Tasmania but they’ve also got a lot of investments around Australia like transport companies and an Arabian horse outfit in New South Wales.”

The company has held the gaming licence monopoly since 1993.

The arrangement is due for renegotiation in 2018 ahead of its expiry in 2023.

Read the full ABC story here

JAMES BOYCE last week on TASMANIAN TIMES ...

The Tasmanian Politician ... and the powerful will of Mr Farrell ...

• Ted Mead in Comments: Yes Greg your expertise in handling horses is second to none, particularly when it comes to leading our one-trick-pony politicians by the nose around the state. I am still amazed at how Tasmanian taxpayers fully accept you and your crony political mates to roll around feeding in blossoming clover whilst the rest of the peasants seem content on foddering on the chaff and silage of our ignorance.

Ben Cannon in Comments HERE: If the government pandered to David Walsh the way it does to the Farrells, he’d already have a virtually free lease of the rail corridor, state and federal funds to maintain it and a hefty gambling income to bankroll its development.

Greg James in Comments HERE: Bullying and intimidation are just as relevant and effective, but appear to be legal. Note the 2008 episode when Will Hodgman questioned the investments made by the Farrell family in Tasmania over the renewal and extension of the poker machine license. There was never 150 jobs and hotel to match the promises by Farrell when he received the extra poker machines. Hodgman thought this was worth talking about until Farrell took out three pages in our local newspapers and stated our Premier was unfit to govern. Hodgman shuts up never to be heard on this matter again. The next renewal will occur after the 2017 state election. Although Farrell (in my view) will buy off both major parties with cheap $20,000 donations it’s a good bet to say he will side with the compliant workers and union party, the ALP. Inevitably they, the ALP can be bought cheaply and with their pious convictions and rusted-on voters, they will do what they are told by the money men. Jim Bacon changed sides after spouting his contempt, Paul Lennon opposed poker machines until he was a minister and Lara Giddings sold out the poor before blind Freddy could blink. The poker machines are all over the poorest suburbs vacuuming up their disposable income, turning their strip shopping centres into wastelands of vacant tenancies. Go see Bridgwater and the empty shops or the poverty in surrounding suburbs and then count the machines. These are the ALP voting suburbs of Tasmania. I have yet to hear Brian Green say one critical word about this parasitical exploitation and poverty. Small business is silent because it is non existent. Tasmanian politicians in the major parties sell themselves very cheaply because they are bullied and intimidated very easily. Do not forget that this can work both ways, I believe there will be an organised reaction to this outrage and the naming and shaming of politicians who support this parasitical, hypocritical monopoly will be a pleasure to organise.