Tabcorp Holdings Limited
(ASX:TAH) says it’s High Court appeal against the State of Victoria for a compensation payout has been dismissed.
Tabcorp was seeking $686 million in damages following the Brumby government decision to hand control of poker machine permits owned by Tatts and Tabcorp to pubs and clubs.
Tatts had originally won a termination payout of $540 million. However the Victorian government is now appealing that decision and saying compensation was not due to either company as it was not obliged to award the new licences to either of them.
Tabcorp reported a net profit of $81.9 million for the six months to end December 2015.
