Woolworths
(ASX:WOW) and Bruce Mathieson have together bought over a third of Victoria’s poker machine licences at a state government auction.
Fairfax media reports that for $24 million dollars the duo bought the 4,692 10 year licences.
That’s an average of around $38,000 per licence and will give Woolworths and Mathieson control more than 34% of all pub poker machines in Victoria.
Melbourne AFL clubs were also big winners at the auction, with figures indicating individual clubs secured control of dozens to hundreds of licences.
The Victorian Government said earlier this month that it made near $1 billion from the auction of licences for the state's poker machines. That money is expected to be put into health and bushfire initiatives.
Woolworth’s net profit continues to grow stronger, in the year to June 30 2009, the company posted a $1.8 billion result.
