Australia\’s biggest lottery company raised A$300 million after selling a 14 per cent stake in the IPO.
Tattersall\’s ended 124 years of private ownership to help maintain its monopoly to run lotteries in Victoria, Australia\’s second-most populous state.
The company has held for 50 years Victoria\’s sole license for lotteries, but the state government has said Tabcorp and other rivals may bid for it when Tattersall\’s license expires in 2007.
“Becoming publicly traded will make it easier to raise money, pursue growth, obtain gaming licenses and most importantly, it broadens Tattersall\’s shareholder base,\’\’ said Chief Executive Duncan Fischer.
Tattersall\’s also operates about 13,500 pokies machines in more than 260 gaming venues in Victoria.
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