Tag Archives: ASX

Tabcorp calls off CEO search as board reviews all future options

Tabcorp Holdings has postponed its search for a new Chief Executive to replace David Attenborough, as its board undertakes a strategic review related to the firm’s future options.  Updating stakeholders, Tabcorp’s board confirmed that the company had reviewed a number of ‘unsolicited approaches’ to acquire the ASX firm’s TAB wagering unit. Tabcorp’s board has deemed the proposed valuation of TAB …

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Hot pursuit is on for Tabcorp shake-up

The board of Tabcorp Holdings is reportedly reviewing a number of individual offers and options from companies looking to acquire its TAB wagering and media units. Grabbing yesterday’s business headlines, FTSE100 Entain Plc revealed its interest to acquire TAB units and merge the heritage betting brand with its active Australian market portfolio.  Despite its public announcement, Entain chose not to …

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Entain pursues Tabcorp’s floundering wagering units

Entain Plc has this morning issued a short statement confirming Australian media speculation that it has made a formal approach to acquire Tabcorp Holdings‘ ‘wagering and media’ assets.  The FTSE100 betting group said that ‘discussions were at an early stage’ and chose not to disclose any information with regards to its valuation of Tabcorp’s sports betting assets.  Entain stated that …

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BetMakers leads €34m pursuit of Sportech to supercharge global outlook

BetMakers Technology Group has this morning communicated that it has reached a ‘binding agreement’ with the board of Sportech Plc to acquire the company for AUS $56.2 (€34m) valuation, undertaken on a cash-free / debt-free basis. The ASX-listed technology group will acquire all Sportech US, European and UK assets and IPs, establishing the company as the leading global supplier of …

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Dwyer and Attenborough warn of Tabcorp’s civic duties as company transitions to a new era

Tabcorp Holdings Group CEO David Attenborough and Executive Chair Paula Dwyer have issued their final joint statements as the corporate leaders of the Australia ASX gambling and lotteries firm.  As previously communicated to markets, Attenborough and Dwyer will formally depart from all Tabcorp leadership and governance duties prior to the firm’s 2021 AGM. The leadership duo, who have led the …

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Tabcorp double burdened by covid and group impairment charges

Tabcorp Holdings has declared annual statutory operating losses of AUS $870m (€520m), as group performance was anchored by a combination of asset impairment charges and COVID-19 impacts recorded across its retail wagering portfolio.  Publishing its 2019/2020 financial results, the ASX-listed gambling group recorded a 5% decline in group revenues, falling to AUS $5.22bn (FY2018/19: $5.44bn), with the company absorbing double-digit …

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Melbourne spike sees Tabcorp close TAB Victoria betting shops

Tabcorp Holdings has been forced to close a significant number of TAB betting shops and agents across Victoria, after State Premier Daniel Andrews enforced a further coronavirus lockdown. On Monday, following a spike of more than 200 new cases in the district area of Melbourne, the Victoria government issued a border closure between Victoria and New South Wales – Australia’s …

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Tabcorp secures debt interest amnesty for 2020  

Tabcorp Holdings has reached an agreement with its US debt holders which will allow the ASX gambling group to defer payments on its debt covenants.  Last month, Tabcorp communicated that it had entered negotiations with US debt holders to obtain new ‘covenant terms’ on its corporate debt tranche of AUS $2.1 billion, maximising financial flexibility as it looks to navigate …

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Tabcorp cancels 2020 dividend as part of new debt arrangement

Tabcorp Holdings has informed investors that the company will sanction no dividend in relation to financial-year 2020 trading. The firm has been forced to terminate the 2020 dividend (fiscal year ending 30 June) as part of its agreed terms with bank lenders, allowing the ASX betting group to waiver approximately AUS $2.2 billion (€1.3bn) of debt covenants until 2021.  Updating …

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Tabcorp boosts TAB broadcast capacity with NBA TV deal

Australian ASX gambling group Tabcorp Holdings has announced a major coup for its TAB sportsbook subsidiary, which has become the official Australia broadcast and betting operator for the NBA. Securing a multi-year agreement, TAB is set to broadcast ‘NBA TV’ across its digital platforms and 4,400 retail venues. Confirming the partnership Scott Levy, Executive VP of NBA Asia, said: “Tabcorp’s extensive …

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