SNC (Sandon) thinks they should sell the Wagering and keep the the lotteries. Here's hoping.
From SNC webpage: Tatts Group Limited (ASX:TTS)
Sandon Capital believes Tatts Group Limited (TTS) should demerge its wagering operation and become predominately a lotteries operator. It has published a presentation detailing its investment thesis. Read the presentation here.
On 27 June 2016, TTS announced that it had sold its interest in Talarius, its UK based slots business, for net consideration of $210m. This brings to an end the disappointing foray into the UK slots market for TTS shareholders and moves the company one step closer to being a pure play Lotteries business. In the same announcement, the company also provided a trading update. The Lotteries business continues to go from strength to strength, seeing 8.7% revenue growth in FY16, whilst the Wagering business continues to underperform with further margin deterioration. Read the announcement here.
TTS Price at posting:
$3.59 Sentiment: Sell Disclosure: Not Held
