The McGowan government has canned its sale of state-owned bookmaker TAB, three years after the process began.

In a statement released late on Monday, Premier Mark McGowan and Racing and Gaming Minister Tony Buti said the sale process will be terminated and ownership will remain with the state.

Racing and Wagering WA chief executive officer Ian Edwards told Simon Beaumont on 6PR Mornings the broader racing industry are “disappointed” the sale of the WA TAB was not concluded successfully.

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“These things are always a rollercoaster ride, they’re never linear,” he told Beaumont.

“The sense of clarity we’ve now got … we’re going to focus on what we do best now.”