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Tatts wins A$540 million in appeal court action
Thursday December 04,2014 : TATTS WINS IN COURT ACTION AGAINST VICTORIAN GOVERNMENT
Australian gambling group wins A$540 million in appeal court action.
Australian gambling group Tatts has been awarded around A$540 million in compensation from the Victorian government following an appeal action this week in the Supreme Court of Victoria.
Victoria’s court of appeal has upheld the judgment made in the state's supreme court, awarding compensation to Tatts and dismissing a similar claim by Tabcorp for A$686.
Tabcorp and Tatts sought compensation after losing their duopoly over poker machines following a government decision in 2008.
The appeal judges said they supported Tatts’ claim largely as a result of an agreement the company made with the government in 1995 providing for a termination payment.
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