Following on from the transition presentation conducted recently by Tatts, the following facts are now known:

• Your venue has a “first right” opportunity to buy the existing product in your room
• The offer from Tatts is for you to buy either 100% of this product or none
• Prices for this product will vary by venue Tatts will only transact with a venue directly or a VCGR approved supplier on the venues behalf
• Your venue will have a limited window in which to make your decision If your venue chooses not to take up the offer, Tatts will have the opportunity to sell the existing product within your venue on the open market and this may result in your venue having poorer product until 2012
• Tatts will require your venue to enter into a sale agreement which will call on a performance/ bank type guarantee to be in place until 2012 for the product in your venue

PVS are licensed by the VCGR to buy your product on your behalf