Tatts Group (TTS) announced today that it has successfully acquired Macquarie Group remaining 50% stake in the European Gaming Group, giving the gaming company full ownership of the target.
European Gaming owns 100% of Talarius, which is operator for 191 gaming centres and approximately 8,000 gaming machines in the UK.
Tatts announced the acquisition on December 20 last year and said it plans on spending $56 million on refurbishing Talarius over the next three years.
The gaming company said it is planning to buy new gaming machines, refurbish the Talarius-owned venues and produce more efficient and timely gaming machine maintenance practices.
The group said it also has plans for further business opportunities in the future.
"Tatts group also intends to seize opportunities to acquire more venues in the UK at a time when the market is experiencing the difficulties that inevitably follow in-venue smoking bans and other regulatory changes," the company said in a statement.
At 11:15AM AEST Tatts Group was trading flat at $3.94.
