Tatts widens offering with keno, scratch-its

Australia’s Tatts says the Victorian government has approved an expansion of its product offering to include daily keno and scratch-its.
The move follows a decision by Greece’s Intralot to end its category 2 public lotteries license and no longer offer the games in Victoria and Tasmania.
Tatts said the amended license will provide an immediate boost to EBITDA. Intralot had sales of $51.9 million ($45.7 million) from the two products in the financial year ending June, 2014.
The company also said it has agreed to buy ancillary assets from Intralot as well as certain intellectual property rights and software. Tatts didn’t disclose the purchase price, but said it was immaterial to its business.
“We are delighted to have been provided the opportunity to return to selling scratch-its in Victoria along with daily keno,” said Tatts managing director and CEO Robbie Cooke. “These products are highly complementary with our existing product range in Victoria, which include the ever popular Tattslotto, Powerball and Oz Lotto.”
The transaction is subject to regulatory approvals.