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C Orporate Finance Essay

1889 words - 8 pages

Running head: CORPORATE FINANCE PAGE \* MERGEFORMAT 1 CORPORATE FINANCE PAGE \* MERGEFORMAT 10
NameCorporate FinanceDateCorporate FinanceGeneral background of the FirmThe formation of Tatts group Limited (TTS) can date back to 1881 when George Adams started it. During that time, it was called Tattersall. Since its formation, the firm has experienced continuous growths in profits making it a monopoly. The company involves a portfolio of organized gambling businesses. It offers entertainment and leisure products and other services in Australia and United Kingdom. Tatts Limited's market comprises of five sections, which include Talarius, Bytecraft, Tattbet, Max Gaming, Tattsbet, and Tatts Lotteries. In 2005, the company became listed on the Australian stock exchange. The company later merged with UNITAB Ltd in the Tattersall brand. Throughout its existence, the company has acquired brands such as Talarius, Golden casket and CentreRacing. The name of the company changed to Tatts Group Limited in 2007 after acquiring two brands.Tatts lotteries contributed about $300 million to the EBIT of the group's total sum as reported in 2013. Tatts lottery has shown a significant growth after its successful acquisitions and mergers (Tatts, Tabcorp Consider Action over Victoria's Levies, 2013). During the same financial year, Tattsbet contributes 655.7 million worth of revenue in the group's financial statements. The market share for max gaming is about 80% in Queensland. Talarius is an overseas branch of the group because it is established in the United Kingdom. Currently, the branch has approximately 7500 gaming machines that provide services to its wide base of customers (Tatts, Tabcorp Consider Action over Victoria's Levies, 2013).The vision of the business is to ensure they are the best gambling group in the world. The company wants to ensure they lead in technology, innovation, and brand formation. The management encourages its workers to work in teams to increase productivity of the firm. There are corporate governance provisions adopted by the management as a means of compliance with risk management practices and ethics requirements. The major policies of the business includeContinuous disclosure policyThe business shows its commitments in complying with the obligation provided by the Corporations Act 2001, which required adequate disclosure of relevant information. The information provided by the company is a true description of the financial position of the company, and investors can use it to base their decision. The company produces both interim and financial statementsWhistleblower policyThe firm ensures it protect employees who provide information that is crucial information to the management. This policy encourages the employees to report on any suspicions of improper behavior regarding the activities of the business.Security trading policyThe board of directors has adopted this policy to provide for the circumstance in which the business may...

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