Morgan BellTattersall’s Expands Through Europe
January 10th 2007 11:11
Australians love gaming and Tattersall’s is probably the most interesting gaming company and it’s now expanding overseas. Stay with me for a look into Tattersall’s.
The news today, 10 January 2007, is that “Melbourne gaming company Tattersall's is looking for further European assets after investors in British gaming company Talarius formally approved the $A335.8 million joint takeover offer.”
“Talarius shareholders voted in favour of the 280 pence-a-share takeover offer by Tattersall's and joint partner Macquarie Bank, through its venture, European Gaming, after a 270p bid was increased to thwart any last-minute rival bid.”
“The takeover — Tattersall's first major deal since its merger last year with Queensland wagering and gaming group Unitab — significantly strengthens its position in Europe. Tattersall's also operates 1000 gaming machines in South Africa.”
“Talarius, which is listed on the London Stock Exchange's AIM market, has 197 gaming sites incorporating 9500 electronic gaming machines. It has been consolidating with smaller British operators.”
“Tattersall's chief executive Dick McIlwain said that through Talarius, Tattersall's would chase similar businesses in Europe, although he refused to specify in which countries.”
““This gives us a substantial footprint offshore and it gives us the opportunity to grow that footprint and make it bigger,” Mr McIlwain said. “It's not just a grab and stand-still thing.””
This news was published in the online version of The Age under the title “Tatts game to gamble on a bigger share of Europe” and was written by Helen Westerman.
Tattersall’s (ASX: TTS) is probably the most successful gaming enterprise in Australia. Its managing director is Dick McIlwain. Tattersall’s is based in Melbourne and its website address is www.tattersalls.com.au.
A look into its financial figures reveals a company whose Revenues are $2,563 million and Net Profit $128.5 million, a margin of 5 per cent. Its current EPS are 18.3 cents.
TTS’s Return on Equity is 26.5 per cent.
Tattersall’s Long Term Debt is $22.6 million or 4 per cent of capital and its Interest is $4.233 million. It holds Cash Assets of $453.7 million.
TTS’s price is $3.82 and its P/E is 20.9 times, probably overvalued at this stage.
End
The news today, 10 January 2007, is that “Melbourne gaming company Tattersall's is looking for further European assets after investors in British gaming company Talarius formally approved the $A335.8 million joint takeover offer.”
“Talarius shareholders voted in favour of the 280 pence-a-share takeover offer by Tattersall's and joint partner Macquarie Bank, through its venture, European Gaming, after a 270p bid was increased to thwart any last-minute rival bid.”
“The takeover — Tattersall's first major deal since its merger last year with Queensland wagering and gaming group Unitab — significantly strengthens its position in Europe. Tattersall's also operates 1000 gaming machines in South Africa.”
“Talarius, which is listed on the London Stock Exchange's AIM market, has 197 gaming sites incorporating 9500 electronic gaming machines. It has been consolidating with smaller British operators.”
“Tattersall's chief executive Dick McIlwain said that through Talarius, Tattersall's would chase similar businesses in Europe, although he refused to specify in which countries.”
““This gives us a substantial footprint offshore and it gives us the opportunity to grow that footprint and make it bigger,” Mr McIlwain said. “It's not just a grab and stand-still thing.””
This news was published in the online version of The Age under the title “Tatts game to gamble on a bigger share of Europe” and was written by Helen Westerman.
Tattersall’s (ASX: TTS) is probably the most successful gaming enterprise in Australia. Its managing director is Dick McIlwain. Tattersall’s is based in Melbourne and its website address is www.tattersalls.com.au.
A look into its financial figures reveals a company whose Revenues are $2,563 million and Net Profit $128.5 million, a margin of 5 per cent. Its current EPS are 18.3 cents.
TTS’s Return on Equity is 26.5 per cent.
Tattersall’s Long Term Debt is $22.6 million or 4 per cent of capital and its Interest is $4.233 million. It holds Cash Assets of $453.7 million.
TTS’s price is $3.82 and its P/E is 20.9 times, probably overvalued at this stage.
End
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