Tabcorp and Tattersalls shares have taken a hammering in early trade, after a decision on Victorian poker machines.
The shares of two of Australia’s largest gaming companies have collapsed today after the Victorian government said it will take away their exclusive license to issue poker machines in that state.
Tabcorp shares have fallen by 20 per cent to 11.41 and Tattersalls shares are down 29 per cent to $2.59.
Thought the companies are seeking a $6 million legal case to fight the removal of those licenses, from 2012, the stockmarket has already reacted violently.
Tabcorp also owns the TAB is NSW, while Tatts is also merged with the TAB in Queensland.
Ross Greenwood reports for Macquarie National News courtesy of the Nine Network.