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    <title>Tatts Group buys New South Wales lottery for A$850m</title>
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    <description>Lottery Post News Story: Tatts Group buys New South Wales lottery for A$850m</description>
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      <title>Tatts Group buys New South Wales lottery for A$850m</title>
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      <pubDate>Wed, 03 Mar 2010 14:15:14 GMT</pubDate>
      <dc:creator>Todd</dc:creator>
      <description><![CDATA[The state government of New South Wales has sold its lotteries business to Tatts Group for A$850m (US$764m) after an auction process that attracted both Australian and international bidders. The total proceeds of the sale will exceed A$1bn after A$160m of cash and other assets from NSW Lotteries are transferred to the government.<br /><br />Melbourne-based Tatts, which operates lottery businesses in three Australian states and two territories, faced competition from a consortium led by Ontario Teachers]]></description>
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