Tattersall’s and Macquarie Bank team up
Australian gaming operator, Tattersall’s, has joined forces with Macquarie Bank to acquire British gaming company Talarius. Tattersall’s previously had a 10.5 per cent stake in Talarius.
Talarius, who operate the Quicksilver amusement arcade chain, said three weeks ago that it had been approached with an offer, though it was unclear then if it was from Tattersall’s. Talarius currently has 197 sites across Britain.
Macquarie Bank, in a divergence from their normal banking practises, joined the venture with the intention of capitalising on future gaming expansion in Britain. The partnership seems ideal, utilising Macquarie’s strong financial presence in Britain and Tattersall’s gaming experience.
The purchase is the first step towards an assault on the British gaming market, where it is said an aggressive acquisition strategy will follow, emphasised by a joint venture, European Gaming, set up between the two companies.
Most of any future acquisitions are likely to be based in Britain, where the market for gaming machines is fragmented and opportunities big.
"We like the growth. We like the strategy. We like the management team," European Gaming’s director Brendan Redmond stated.
Talarius, including debt, is valued at £167 million. The two Australian companies will each provide £44.3 million and the remainder being supplied by the Royal Bank of Scotland.
Editor, Jackpot.co.uk - 2006-11-23 11:10:18