On the back of the news that the Victorian Government will double the levy on each of the state\’s poker machines to more than A$3000, shares in Tabcorp, Australia\’s largest gaming company, slumped 4.2% to A$15.92.
Rival group Tattersalls could also be badly affected by the new tax as it prepares for its A$2 billion float.
Tabcorp and Tatts each operate 13,750 machines in Victoria. Shares in Kerry Packer\’s PBL, which operates 2500 machines at its Crown Casino, fell 9c to A$14.89.
The Government said the extra money raised will go into state-run hospitals.