Why Tatts Group should demerge wagering to become a focused lottery operator

Gabriel Radzyminski

Sandon Capital believes Australian wagering and lotteries operator Tatts Group Ltd (ASX:TTS) should demerge its structurally challenged wagering business to become focused on its lottery concessions. Tatts Group lottery concessions are state-based monopolies with weighted average concession durations of 35-40 years. We believe these are infrastructure-like in their characteristics and that the share market is underpricing the true worth of the lotteries business. Our presentation details the thinking behind this thesis. Read it here: (VIEW LINK)


Comments

Please sign in to comment on this wire.