News Item : Tatts Group Ltd (ASX:TTS) eyes off Tabcorp Holdings Ltd

Tatts Group Ltd (ASX:TTS) eyes off Tabcorp Holdings Ltd March 15, 2010 07:54 AM

Gaming company Tatts Group Ltd (ASX:TTS) says it is interested in Tabcorp Holdings Ltd’s wagering business.

AAP reports that Tatts Group CEO Dick McIlwain has revealed he would be keen to take on Tabcorp’s wagering business if it were to offload it, as he believes wagering sits better with Tatts than Tabcorp.

Mr McIwain says he thinks Tabcorp is more casino, hotel and gaming machine focussed than Tatts Group currently is.

But he says he does not expect that Tabcorp will split its wagering business from its other operations.

He says Tatts’ current focus is the integration of NSW Lotteries, which it acquired for $850 million from the NSW Government earlier this month.

The NSW Lotteries acquisition is expected to produce an extra $120 million of earnings for Tatts by 2014.

Tatts Group posted a profit of $277.44 million for the 2009 financial year.

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