POKER MACHINES – GOVERNMENT POLICY – VICTORIA

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

Judges slam Victorian govt on gambling reform

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Original article by Jessica Gardner
The Australian Financial Review – Page: 15 : 5-Dec-14

Tabcorp and Tatts were in 1994 granted licences for 18 years by the then Victorian government to operate poker machines in the state. However, the rights were then transferred to pubs and clubs in 2008. Tatts launched a compensation suit for $A540m over the loss of its licence and Tabcorp sought $A687m. The Court of Appeal has now ruled in favour of the former but against the latter. Tatts won as its claim was based on a contractual rather than statutory argument

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, COURT OF APPEAL (VICTORIA), AUSTRALIAN LABOR PARTY, VICTORIA. DEPT OF PREMIER AND CABINET, CROWN RESORTS LIMITED – ASX CWN, LIBERAL PARTY OF AUSTRALIA, HIGH COURT OF AUSTRALIA, SUPREME COURT OF VICTORIA, STANDARD AND POOR’S ASX 200 INDEX

Tatts wins over Tabcorp

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Original article by Lucille Keen, Scott Parker
The Australian Financial Review – Page: 3 : 27-Jun-14

Gaming company Tatts has succeeded in its claim for compensation from the Victorian Government. Tatts and Tabcorp had taken legal action over the loss of gaming licences. On 26 June 2014, the Supreme Court of Victoria found that Tatts was entitled to $A451 million in compensation plus interest. However, Tabcorp’s claim for compensation of $A687 million was dismissed

CORPORATES
TATTS GROUP LIMITED – ASX TTS, TABCORP HOLDINGS LIMITED – ASX TAH, SUPREME COURT OF VICTORIA, VICTORIA. DEPT OF TREASURY AND FINANCE, CIMB SECURITIES INTERNATIONAL (AUSTRALIA) PTY LTD