|Jupiters chairman Lawrence Willett said that the board of directors would meet on March 1 to decide the fate of the Queensland casino group. |
Deliberations over a proposal for Jupiters and Unitab to create a $1.7 billion Queensland gaming group began in December. Only weeks after Tabcorp announced its desire to take over Jupiters and create a $5 billion gaming group.
However, Willett suggested that “The board intends to reach a decision on that day as to its recommendations to the shareholders of Jupiters,' another spokesperson for Jupiters added that negotiations between casino groups will comense and final offers would have to be made a few days before the board meeting in order to be considered.
Only on Tuesday, Jupiters, which owns the casinos in Brisbane, Townsville and on the Gold Coast, and runs online sports betting agency Centrebet, announced a 4 per cent decline in profits for the six months to December 31 to $34.7 million when compared with $36.2 million in the previous half.
The company’s managing director Rob Hines was solely interested in increasing shareholder value and more than just getting the highest price in negotiations with Tabcorp and Unitab.
It has been unofficially declared that the odds are set against Unitab in the race for Jupiters acquisition.