Tabcorp to Focus on Acquisitions

AUSTRALIA – As reported by the Australian Courier-Mail: "Expanding into Britain and Macau are on the menu but Tabcorp's plate is currently full, the gambling giant said yesterday.

"Managing director Matthew Slatter yesterday said the executive team's focus would be on integrating its two huge acquisitions – Queensland's Jupiters casinos and Sydney-based TAB.

"But Tabcorp was keeping a keen eye on promising developments in some offshore regions.

"Mr Slatter told yesterday's upbeat annual meeting that the company was performing ahead of expectations for the new year.

"He said revenue for the first four months of the financial year to the end of October was up 5.4 per cent.

"...Investors loved the story, sending Tabcorp's shares rocketing into record territory. The stock jumped as high as $17.07 in early trade before closing at $17, up 31¢ (1.9 per cent)…"