Poker.co.uk

Poker Info
DATE: May 26 2012
TIME :

Poker.co.uk - Poker news archive

The Gambling Network

Poker.co.uk - Poker News Archive

Tuesday 17th August 2004

Australian lottery giant to sell shares publicly

Australian Lottery company Tattersalls is planning on selling approximately Aus$300 million of its shares publicly later this year. The Victorian based company is looking at November for floating the shares on the stock market for public purchase. The final amount to be floated depends on the decision of current shareholders and the amounts they are willing to sell. Currently Tattersall�s operates 27,500 poker machines within the state, and boasts an annual revenue of Aus$13.3 billion.

Currently about 2500 beneficiaries of the company�s founder George Adams, hold the stock of the company. Should they decide between them to sell less than the intended $300 million, then the company would be looking at undertaking a small capital raising venture to make up the difference. Once the Victorian parliament have changed Tattersall�s trust structure to one of an unlisted entity, beneficiaries will then be presented with an indication of unit prices in order to make the decision as to the volumes they are willing to sell.

In order to continue with their quest to obtain a stock market listing, Tattersall�s must obtain permission from a core group of beneficiaries- those who are direct relations of the benefactors named in George Adams will. The second level of permission must come from the Supreme Court in Victoria, whose task it is to assess that current owners of the company will not be disadvantaged by the stock market listing. The last stage in the movement towards the stock market, is a change in legislation regarding the company�s new status in relation to the Victorian gaming and lotteries license it holds. This bill is expected to be passed with no problems.

Source: OnlineCasinoNews

View Similar Stories
British Columbia Lottery Corp release 4 internet based games
Insurance Giant in Prudent Move for Online Casino Operator
Gigamedia Shares Soar
Arnold Schwarzenegger to Lease State Lottery
Lottery Sponsors Poker Tournament

Discuss this story in the Poker Forum. Last 5 Posts:
Friday 25^th May, 2012: One way poker Swapsies
Friday 25^th May, 2012: New Bap - Day 3
Friday 25^th May, 2012: WSOP Fantasy Draft 2012
Friday 25^th May, 2012: Sharkscope
Friday 25^th May, 2012: $1500 WSOP opening event.

Poker.co.uk is part of The Gambling Network | Terms and Conditions | Privacy Policy | Contact Us | Gamble Aware

Poker.co.uk is operated by InTouch Poker Ltd (hereinafter called the "Company"), a limited liability company with registration number C44236, registered in Malta (a member of the EU since May 2004). The Company’s registered address is at Vincenti Buildings, Suite 623, 14/19 Strait Street, Valletta VLT 1432, Malta. The Company operates the Poker.co.uk online poker room under a provisional license issued and regulated by the Lotteries and Gaming Authority ("LGA") of Malta (issued on 2 December 2008, number LGA/CL3/412/2007). The software used for operating the Poker.co.uk online poker room is licensed from Boss Media Malta Poker Limited. Our services are not available to residents of the United States, US Virgin Islands, US Minor Outlying Areas or Turkey or any other jurisdiction that legally prohibits its citizens from engaging in online gaming.