Tag Archives: Tabcorp
Australia – TabCorp to launch demerger of its Lotteries and Keno business
Tabcorp Holdings Limited (Tabcorp) has announced that it intends to undertake a demerger of its Lotteries & Keno business, following the conclusion of a comprehensive strategic review of all relevant structural and ownership options to maximise value for shareholders. The demerger will create two standalone, market leading ASX-listed companies with distinct operating profiles, strategies and…
Australia – BetMakers joins list of companies to make bids for Tabcorp
The list of suitors to buy Tabcorp’s racing and wagering arm continues to grow with Australian betting company BetMakers Technology, throwing its name into the hat with a AU$4bn offer which if accepted would see Tabcorp receive AU$1bn in cash sourced through debt financing and another AU$3bn worth of newly issued BetMakers shares. The number…
Australia – Apollo Global Management makes it bid for Tabcorp
US investment manager Apollo Global Management has now outbid British betting company Entain in the race to buy Australian betting giant Tabcorp. Apollo has put forward two bids one for AU$4bn to take both the Wagering & Media business and the Gaming Services business and one for AU$3.5bn just for the Wagering & Media business…
Australia – Entain increases Tabcorp offer to AU$3.5bn
Entain, the European betting giant and owner of brands such as Ladbrokes, has confirmed it has upped its offer to buy Australian sports betting operator Tabcorp to AU$3.5bn. Tabcorp confirmed: “The revised proposal continues to be subject to numerous conditions including due diligence, arranging financing, receipt of all relevant regulatory approvals (including ACCC and FIRB)…
Australia – Tabcorp confirms strategic review after Entain’s under-valued offer
Australian sports betting giant Tabcorp has said it is launching a broad strategic review after rejecting a $3bn bid from British company Entain. Tabcorp Chairman Steven Gregg said it was no necessary for Tabcorp to ‘put a mark down in the market’ with a strategic review after months of speculation about a sale of its…
Australia – Tabcorp ’emerging from COVID-19 in a stronger financial position.’
Australian betting giant has reported a ‘strong recovery following COV_19 challenges’ with group revenue down just 1.5 per cent in its half year results adding that it is actually ’emerging in a stronger financial position.’ Lotteries and keno revenues were up 1.6 per cent to $1,609m, digital lotteries turnover grew 20.9 per cent whilst wagering…
Australia – Entain confirms acquisition offer for Tabcorp’s wagering and media business
Responding to recent press speculation, Entain has confirmed it has made a non-binding indicative offer to acquire Tabcorp’s Wagering and Media business. Entain has said that whilst discussions are at an early stage, any transaction would be in-line with the company’s current M&A strategy of expanding across regulated international markets. Describing the opportunity to acquire…
Australia – Tabcorp expecting a $1bn write-down in the value of its business
Australian gambling firm Tabcorp could write down nearly $1bn or a third of its value, following a profit fall of at least 31 per cent compared to last year’s net profit of $396m. The operator will report a net profit for the year to June 30 of between $267m to $273m. Tabcorp CEO David Attenborough…
Australia – Victorian reopening task force slammed for ‘self-serving’ advice
Members of a Victorian task force including big names from the gaming industry have insisted they are not pressuring the Australian government to lift the COVID-19-enforced closures quickly, but are being supportive of government health measures to avoid outbreaks and further shutdowns. The task force, which includes Crown Resorts, Tabcorp, the Australian Hotels Association, Community…
