Talarius Slot Machine Group Sold to Australian Joint Venture for 137 Million Pounds

On November 22nd, Talarius, the owner/operator of the Quicksilver slot gaming chain, agreed to a joint venture takeover between Australian lottery operator, Tattersalls, and Macquarie bank for 137 million pounds. Talarius shares went for 270p each, 3.3 percent more than the price before the deal was announced to the public, placing the company's value at 137.2 million pounds.

The upcoming smoking ban in England and Wales was one of the chief reasons that they agreed to the deal, said Talarius chief executive, Nick Harding. "The smoking ban will affect the leisure and hospitality industries generally," he said. "We can expect choppy waters in 2007."

The Talarius management team will remain as is and will shift their focus to expanding into other parts of Europe and emerging markets. Talarius chairman, David Williams remarked, "We are joining forces with someone who can guarantee the expansion of the business."

Talarius shares have gained almost 4% since the announcement closing at 271.5p. The stocks were originally sold for 80p each in April of 2005 when the shares first debuted at 80p each. Talarius has 9,500 gaming machines in 200 outlets and owns the Cyberslotz website.

Tattersalls, based in Melbourne Australia, has gambling licenses in five Pacific island nations and is looking forward to the opportunity to expand into Europe.

Tuesday, 28 November 2006
Marissa Patterson