Tatts wins $540M claim against Vic Govt

Company News

Tatts Group Limited (ASX:TTS) will be paid $540 million in compensation from the Victorian government after the Victorian Court of Appeal dismissed an earlier appeal against a decision by the Supreme Court of Victoria.
 
The case follows a long running legal battle between Tatts Group, Tabcorp and the Victorian government over poker machine licences.
 
The company says it welcomes the decision and that it upholds an agreement entered into with the state government in 1995.
 
It is so far not clear whether the State of Victoria will lodge an application in the High Court of Australia to further appeal the decision.
 
Tatts reported a net profit of $200 million in the 2014 financial year.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?