TAH has halved from its 2023 high, but this gaming business is starting to present some value, although cost-of-living pressures remain. TAH has advanced over recent weeks following an approach to the NSW government with an indicative proposal to make tax and regulatory changes to the wagering sector that would alter the way funding flows to the racing industry. We believe this is a significant step in the right direction, and TAH is likely to have found a meaningful low, assuming the NSW government actively engages with the proposal.
- We can see a tradeable bounce unfolding in TAH, but it’s not for us from an investment perspective.
MM is cautiously bullish TAH
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