Credit Suisse has this morning issues an update on Tatts Group that newsagents may find interesting.
Tatts was unsuccessful in retaining its A$540mn pokies licence refund after the High Court upheld the Victorian Government appeal. Tatts must also pay 20 months of accrued interest and legal costs which we estimate to be A$50mn.
I wonder if media coverage of the Tatts High Court loss will be as strong as when they won. I recall some media outlets were savage toward politicians. Will they now apologise for this? I doubt it as it would not serve their political purposes.