LOTTERIES – AUSTRALIA

Macquarie rolls the dice on Tatts

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 & 23 : 15-Dec-16

Pacific Consortium has offered between $A4.40 and $A5 per share for Tatts Group. The consortium comprises Macquarie Capital, State Super, Morgan Stanley Infrastructure and Kohlberg Kravis Roberts. The bid is composed of two schemes of arrangement which involve the separation of Tatts Group’s wagering arm from its lotteries business. Tatts is also being pursued by Tabcorp, whose offer values Tatts at $A4.49 a share.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, MACQUARIE CAPITAL PTY LTD, STATE SUPER SCHEME, MORGAN STANLEY AUSTRALIA LIMITED, KOHLBERG KRAVIS ROBERTS AND COMPANY, PERPETUAL LIMITED – ASX PPT, TAYLOR COLLISON LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Tabcorp-Tatts double up with $11bn punt

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 & 22 : 20-Oct-16

Tabcorp’s takeover offer for Tatts Group comprises 0.80 of its shares and a $A042.5 cash payment for each of the target’s shares. Tatts shareholders will control 58 per cent of the merged company if the deal is approved. It has been endorsed by the boards of both companies, as well as major institutional investors such as Perpetual and AustralianSuper. The merged group would boast a market capitalisation of about $A8.6bn and annual revenue of more than $A5bn. Tabcorp CEO David Attenborough would head the merged company.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, PERPETUAL LIMITED – ASX PPT, AUSTRALIANSUPER PTY LTD, NORTHCAPE CAPITAL PTY LTD

Tatts, Tabcorp bet on $9.4bn link

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 & 22 : 19-Oct-16

Shares in gaming giants Tabcorp Holdings and Tatts Group were placed in trading halts on 18 October 2016, pending an announcement on a potential scheme of arrangement merger. A merged entity would have a market capitalisation of around $A9.4bn and boast annual synergies of about $A100m. It would also be in a stronger position to pursue growth via offshore acquisitions. The two groups shelved a "merger of equals" proposal in 2015 after failing to reach agreement on valuations.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, UBET, DEUTSCHE BANK AG, SUN BETS, NEWS CORPORATION – ASX NWS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Tatts in $540m court shock

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 & 22 : 3-Mar-16

Shares in Tatts Group shed 4.35 per cent to close at $A3.74 on 2 March 2016, after the High Court ruled in the Victorian Government’s favour in a dispute over the termination of the company’s poker machine licence. The court ordered Tatts to repay a total of $A540m which it had been awarded as compensation by a previous court ruling in 2014. The latest judgment has prompted speculation that Tatts could seek to revive merger talks with rival Tabcorp, although Tatts CEO Robert Cooke recently said this is not on the agenda.

CORPORATES
TATTS GROUP LIMITED – ASX TTS, HIGH COURT OF AUSTRALIA, TABCORP HOLDINGS LIMITED – ASX TAH, UBET

Tatts Group urged to seek premium

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Original article by James Thomson, Jessica Gardner
The Australian Financial Review – Page: 13 & 18 : 16-Nov-15

Tabcorp Holdings and Tatts Group have both declined to comment on reports that they have held merger discussions. Shares in Tatts Group closed at $A3.92 on 13 November 2015, although Sandon Capital estimates that the stock could be worth around $A5.50 if Tatts were broken up. Tabcorp is seen as a potential buyer of Tatts’ wagering division, but some fund managers favour a merger between the two groups.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, SANDON CAPITAL INVESTMENTS LIMITED – ASX SNC, PERPETUAL LIMITED – ASX PPT, UNITAB LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, UBS HOLDINGS PTY LTD, ONTARIO TEACHERS’ PENSION PLAN, NSW LOTTERIES, WILLIAM HILL AUSTRALIA PTY LTD, LADBROKES GROUP PLC

Tabcorp to revive ‘staid’ Keno brand

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Original article by John Stensholt
The Australian Financial Review – Page: 19 : 15-Jun-15

Australian-listed Tabcorp hopes a rebranding of Keno will revive interest in the lottery-style game and attract more players. The rebranding will be backed by a cross-media marketing campaign, featuring TV, radio and outdoor advertising. The marketing campaign uses the theme "let’s play!", and Tabcorp aims to attract younger people to Keno and get people to play the game more often.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH

Tatts launches new lottery

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Original article by Jessica Gardner
The Australian Financial Review – Page: 18 : 20-Feb-15

Tatts Group has posted a 2014-15 interim profit of $A139.2m, which is 14.6 per cent higher than previously. The lotteries division’s EBITDA of $A161.1m was 2.4 per cent higher, and revenue grew by 1.3 per cent to $A1.01bn. The wagering division’s EBITDA and revenue increased by 6.4 per cent and 0.4 per cent respectively. Meanwhile, Tatts will launch a new lottery product called "Set for Life"

CORPORATES
TATTS GROUP LIMITED – ASX TTS, CITIGROUP PTY LTD

Man loses bid for share of ex-wife’s $6m lotto win

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Original article by Michaela Whitbourn
The Sydney Morning Herald – Page: 12 : 15-Oct-14

Family Court of Australia judges Stephen Thackray, Peter Murphy and Murray Aldridge have dismissed an appeal against an earlier ruling by judge Janine Stevenson. She had heard that a lottery ticket had been bought by a woman six months after she separated from her husband of two decades. The man sought to claim part of the $A6m won on the ticket, but Stevenson cited a 2011 decision in the Family Division of the High Court of the UK and rejected his case

CORPORATES
FAMILY COURT OF AUSTRALIA, HIGH COURT OF ENGLAND AND WALES

Pokies levy drags down Tatts profit

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Original article by Jessica Gardner
The Australian Financial Review – Page: 15 : 22-Aug-14

Tatts Group has posted a 2013-14 net profit of $A200.4m, which is 19 per cent lower than previously. The result was marred by factors such as a $A42.6m poker machine levy, while its 2012-13 result had been boosted by a one-off tax benefit. The wagering division’s revenue was down two per cent at $A642.3m, while the lotteries division’s revenue was 4.3 per cent lower at $A1.9bn. CEO Robbie Cooke says Tatts will launch a new website and a new wagering brand

CORPORATES
TATTS GROUP LIMITED – ASX TTS, CITIGROUP PTY LTD, PENGANA CAPITAL LIMITED