Tattersall’s Takeover 

Tattersall’s Ltd. has announced that they have won approval from the shareholders of Unitab Ltd., for a $1.5 billion takeover. This will now make Tattersall’s the nation’s largest slot machine business. Tattersall’s Ltd is already Australia’s biggest lottery operator, and by taking over the gaming company they have put themselves in the forefront of the slot machine industry. 

With Unitab’s shareholders voting 93% in favor of the takeover, it has just ended a six month battle between Tattersall’s and Tabcorp Holdings, Ltd., which was Australia’s biggest slot machine company. The move will allow Tattersall’s to double its lottery sales and expand its slot machine market.  

Once word had spread that Tabcorp was pushed out, experts were quick to say how well Tattersall’s management had performed in the push to obtain the slot machine and gaming company. The original CEO of Tattersall’s has even agreed to step down. Duncan Fisher announced that he would be stepping aside to let the CEO of Unitab, Dick McIlwain, take over the helm – which shareholders see as a major step towards company loyalty. This was a smart move on his part, experts believe, as it will do much to strengthen loyalty amongst their shareholders.  

Fischer was responsible for Tattersall’s listing on the Australian Stock Exchange in July of 2005. McIlwain, has done well also, he has overseen the rise of Unitab’s stock seven times over since it went public in 1999. The company’s combined efforts will yield over 13,500 slot machines, numerous off track betting shops, and will provide monitoring for 134,000 slot machines as well.

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