Good Shares to Buy

Is Tabcorp a buy?

{ 3:49 PM, 8/8/2008 } { 0 comments } { Link }

Tabcorp (TAH) the biggest gaming and wagering group in Australia has dismissed calls to restructure its operation or a possible merger with rival Tatts Group to help it recover from the loss of its Victorian poker machine licence few months ago. The company delivered a loss of $165 million yesterday, after announcing write-downs totalling $708 million. However, investors found some optimistic tone in the news that Tabcorp would maintain its 94 cents-per-share dividend paid in 2007-08, and pushed the stock to $9.17. Is it a start of new upward trend?
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