Why Tatts Group should demerge wagering to become a focused lottery operator
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)
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Gabriel is the founder and Managing Director of Sandon Capital Pty Ltd, a boutique investment management and advisory firm. He is the portfolio manager of the Sandon Capital Activist Fund and Sandon Capital Investments Limited. Sandon Capital also provides advisory services to shareholders seeking to implement activist strategies. Gabriel is chairman of Sandon Capital Investments Limited (ASX:SNC), non-executive director of Mercantile Investment Company Limited (ASX:MVT) and Chesser Resources Ltd (ASX:CHZ) and is a non-executive director of Future Generation Investment Fund Limited (ASX:FGX). He was previously a non-executive director of RHG Limited and chairman of Armidale Investment Company Limited.
Sandon Capital
Gabriel is the founder and Managing Director of Sandon Capital Pty Ltd, a boutique investment management and advisory firm. He is the portfolio manager of the Sandon Capital Activist Fund and Sandon Capital Investments Limited. Sandon Capital also...
Expertise
Sandon Capital
Gabriel is the founder and Managing Director of Sandon Capital Pty Ltd, a boutique investment management and advisory firm. He is the portfolio manager of the Sandon Capital Activist Fund and Sandon Capital Investments Limited. Sandon Capital also...
Expertise
Comments
Comments
Sign In or Join Free to comment