Woolworths Ltd
(ASX:WOW) is considering a further investment in the pubs and gaming industry. That’s according to the Australian Financial Review.
Woolworths has reportedly approached the Laundy Group about taking a stake in the firm.
The paper said talks began six months ago, and a joint venture may be possible.
The Laundy Group owns about 47 pubs, and may purchase another 20 by the end of this month.
Both are waiting for the government’s decision regarding mandatory limits on the use of poker machines, according to the report.
For the half year ended 31 December 2010, Woolworths reported a net profit of $1.175 billion.
