Aussies Buy Talarius Group
Published: Thursday, November 23, 2006 Online-Casinos.com
AUSSIES BUY TALARIUS GROUP
GBP 137.2 million deal secures UK gambling group
Australia's Tattersalls lottery group and the Macquarie Bank has bought the Talarius group - operator of the UK Quicksilver chain of slot machine gaming centres and the Cyberslotz online gambling website - for a total consideration of GBP 137.2 million, the Australians announced this week.
Talarius owns almost 200 betting outlets with 9 500 gaming machines, and the Cyberslotz website.
The move is the first European purchase for lottery operator Tattersall's, which acquired a 10 percent stake in Talarius last December with a view to taking advantage of a loosening of the gambling rules in the UK.
Predicting difficult times in 2007 for the industry, Nick Harding, CEO at Talarius said the forthcoming introduction of a smoking ban in England and Wales was one of the reasons for his company accepting the offer to buy. "The smoking ban will affect the leisure and hospitality industries generally," he claimed.
The Talarius management team will remain intact and intends to focus on expanding the business through Europe and in emerging markets. "We are joining forces with someone who can guarantee the expansion of the business," chairman David Williams said.
The Talarius acquisition is subject to Tattersalls and McQuarie investor approval and will not be finalised until next February..
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