Tatts enters ‘advanced negotiations’ for Intralot Australia & New Zealand division

Updating the market, ASX-listed Australian gambling operator Tatts Group Limited (Tatts) has announced that it has entered ‘exclusive talks’ to acquire Intralot’s Australian and New Zealand business division.

Tatts have confirmed to Australian business news sources that stakeholder negotiations have ‘advanced to a confirmatory due diligence stage’. However, the company would further state that no final proposal had been made.

The planned acquisition of Intralot’s Australian and New Zealand division will see Tatts takeover the gambling transaction and monitoring systems of the Greek gambling technology provider.

Neither Tatts or Intralot governances have disclosed financial details regarding the division’s value.

Industry commentators have noted that Tatts governance continues its ongoing strategy of focusing its resources on its Australian home market.

In June the firm offloaded its UK arcade and slots division Talarius (operator of Quicksilver Arcades) to gambling machine manufacturer Novomatic Group for in deal worth AUS $210 million (£115 million).