Coles punts pubs and pokies in $200m joint venture deal

Supermarket giant Coles has offloaded its hotel and pokies business in a complicated deal that allows it to skirt unique Queensland licensing laws and hold on to its lucrative bottle shops in the state.
Coles has been trying to sell its Spirits Hotel business for about a year, with the retailer’s previous owner, Wesfarmers, expressing disquiet about owning the 300-or-so poker machines that sit inside the group’s 87 hotels. Sydney Morning Herald – Read more…