Agree Sammy. Management have a very good strike rate when it comes to winning other "related" business.
The share price has been discounted because of the Victorian Govts removal of the Vic pokies revenue from TTS. However they have done a creditable job of replacing that. I would expect the same investors who pushed TLS higher on yield would be keen to be part of another company that derives all of it's revenue from onshore (ie fully franked divs).
And there is also a chance of some degree of compensation being won from the Vic Govt over the pokies decision which could lead to a spec div. Of course this last positive is just a gamble. (couldn't resist the betting analogy).
The way I see it: High yield - low down side risk. Not sexy but effective.
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