For USD 210M
Tatts Group sells Talarius business to Novomatic UK
Lotteries and wagering firm Tatts Group has sold its struggling UK-based slot machine and internet gaming operator Talarius to Novomatic UK for USD 210M.
2016-06-27
Reading time 24 seg
Lotteries and wagering firm Tatts Group has sold its struggling UK-based slot machine and internet gaming operator Talarius to Novomatic UK for USD 210M.
Tatts said on Monday that the sale would result in an accounting loss of about $50 million in the 2016 full financial year.
The company's shares fell as much as 3.89 per cent to $3.71, their lowest level since April 15, at the open.
"The sale of Talarius follows three years of intense effort to improve the performance of a business that struggled since its acquisition by Tatts back in 2008," Tatts chief executive Robbie Cooke said.
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