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Tatts fails to win Victorian monitoring license

Tatts fails to win Victorian monitoring license

Tatts Group (ASX:TTS) has revealed it failed to win the license for a gaming monitoring system in Victoria.

Tatts subsidiary Maxgaming Victoria was pipped to the contract to monitor the state's 27,000 gaming machines by Intralot Gaming Services.

Announcing the development, Tatts said it would not enter into arrangements “where the risk of delivery cannot be recognised in the returns available.”

The decision means Tatts association with gaming in Victoria will now end completely once the new monitoring system is complete by August 2012,

The company did not win the state's fixed-odds betting license awarded in July, which instead went to rival Tabcorp (ASX:TAH).

Tatts revealed last month that its FY11 profit grew by 130.8% to $275.4 million, and its revenue by 11.3% to $3.67 billion.

During the year, the company nearly completed the forward sale of its Tatts Pokies gaming machines, which are operated in Victoria under a license also due to expire in August next year.

TTS shares fell 0.93% on Wednesday to $2.130.

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Tags Tatts Group LtdTabCorpgamblingASX:TTSIntralot Gaming ServicesVictoriaASX:TAH

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