Tatts Group confirms Intralot acquisition talks
Australian operator in "exclusive" discussions to buy the supplier's Australian and New Zealand-facing businesses
Melbourne-based Tatts Group today confirmed the operator is in “exclusive” discussions with Intralot to acquire the supplier’s Australian and New Zealand businesses.
In a statement released earlier today, Tatts said the companies had been in discussions for “some time” as part of a deal worth between AU$90 (£51m) and $100m (£56.8m), according to Australian news outlets.
“These discussions have advanced to a confirmatory due diligence stage and Intralot has agreed to conduct this process on an exclusive basis with Tatts,” the operator said.
“Given no final proposal has been made by either party, there is no certainty that the discussions will result in a binding transaction.”
In Australia Intralot operates an electronic gaming machine Monitoring License and a voluntary pre-commitment scheme in Victoria, in addition to IT and systems support for Western Australia’s state lottery.
Tatts Group recently sold its UK slots business Talarius Limited, which operates Quicksilver slot venues, to Novomatic for A$210m (£111m). Talarius had previously contributed approximately $6.2m of Tatt’s 2015 EBIT.
The Australian operator also reported the same day a 33.3% year-on-year rise in online sales from lotteries and a 22.9% increase in wagering for the year-to-date 21 May 2016.