Fischer bets on Tattersall win - Sunday 12th of June 2005

TATTERSALL'S chief executive Duncan Fischer says the lottery and poker machines operator is very confident it will keep its licences despite an increasingly competitive sector.

The Victorian-based company is listing on the Australian Stock Exchange next month in a $2.03 billion float.

Tattersall's holds Victoria's sole licence for lotteries and, along with Tabcorp, is one of two operators of gaming machines outside of Melbourne's Crown Casino.

But the Victorian Government is reviewing the lottery licence structure, which is set to expire in June 2007.

The Government may allow up to three lotteries licences after that time.

 

 

It will also review gaming licences, which will expire in 2012.

Mr Fischer said Tattersall's had operated in a regulated market for more than 100 years.

"We have a sound business, we have competencies that add value and we are one of the most cost efficient lottery operators in the world today," he said on the ABC's Inside Business program.

"We deliver more for government and more for our customers than any other lottery operator in the world, so we are very confident that those licence processes will result in us (getting the licences)."

The company also operates lotteries in Tasmania, the Northern Territory and the ACT and holds a 10 per cent share in the national lottery of South Africa.

Mr Fischer said there was room for the company to "spread out" into other ventures like wagering and casinos and overseas through expansion and acquisitions.

He said at present Tattersall's did not have the experience to run a wagering business or casino.

But he would not rule out any move in the future.

"When wagering licences finally come up for review ... we would look very carefully at those applications and see what they mean and determine whether we think its an appropriate thing to do," Mr Fischer said.

Mr Fischer said takeovers were also a "clear option" for the company.

Tattersall's expects to raise about $290 million from the public offer, although the final share price will not be set until after an institutional bookbuild process.

The retail share offer is expected to open on June 10 and close on June 29.

Other news from around the same time

Judge allows casino classes at USM - Sunday 12th of June 2005

A judge has ruled that the University of Southern Mississippi can teach gaming management classes.Hi....


Casino panel hiring process starts - Sunday 12th of June 2005

The government has begun implementing its controversial new gambling legislation by starting the rec....


Speculators place their bets on the fortunes of casino operator - Sunday 12th of June 2005

Dealers continued to watch London Clubs International yesterday as they speculated that an Indonesia....


Online Gambling Site PartyGaming To Float IPO - Sunday 12th of June 2005

In a move likely to have reverberations across the Web, online poker site PartyGaming has filed for ....


Hold 'em tourneys a big draw around town - Sunday 12th of June 2005

With this week's start of the World Series of Poker, Las Vegas poker rooms are ramping up popular no....


Many Favor Calexico Casino - Sunday 12th of June 2005

CALEXICO, California As reported by the San Diego Tribune: "On the sidewalks in front of the colorfu....


Harrah's-Caesars Merger: Nevada Hearings Will Wait - Monday 6th of February 2006

Nevada's gaming regulators will have to wait a few extra days before deciding if Harrah's Entertainm....


Mississippi University Can Run Casino Courses - Sunday 12th of June 2005

"The University of Southern Mississippi can proceed with its casino management program, Chancery Jud....


Video Slots a Hit - Sunday 12th of June 2005

When Donna Muir first tried to play the newest video slot machines at the Quil Ceda Creek Casino, sh....


Multimedia Games Wins VictoryLand Contract - Sunday 12th of June 2005

Multimedia Games, Inc. (Nasdaq: MGAM) announced today that the Company's Players Passport player tra....