Tag Archives: ASX

AUS $9 billion merger back on Tatts & Tabcorp agendas

Australian business news sources are reporting that market leading gambling operators’ Tabcorp Plc and Tatts Group have entered advanced talks to create an AUS $9 billion enterprise. The operators have previously engaged in merger discussions. In November 2016, Tabcorp and Tatts governance entered initial discussions but quickly repealed discussions after failing to agree on any potential merger terms. Today both …

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TopBetta raises $2.6 million for aggressive growth plans

Australia ASX-listed racing and fantasy sports operator TopBetta has confirmed that it has raised AUS $2.6 million (£1.5 million) through a share placement funded by a group of ‘sophisticated and institutional’ investors. Placing 14.5 million shares at AUS $0.18, TopBetta governance will use the funds to implement an ‘aggressive growth’ strategy targeting customers during the key period of Spring Carnival …

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Lottery ‘Record Breaking Year’ lifts Tatts Group 2016 performance

Presenting its 2016 full year report (period ending 30 June), Australian ASX-listed gambling operator Tatts Group has revealed a mixed set of results reporting strong digital growth hindered by legal costs. Closing its FY 2016 Tatts Group (Tatts) would post a statutory net profit decline of -7% to AUS $233 million (£136 million). Tatts 2016 earnings would be impacted by …

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Legal & expansion costs see Tabcorp post 49% 2016 profits decline

Footing a legal bill of AUS $20 million (£11.5 million) Australian ASX-listed gambling operator Tabcorp Holdings (Tabcorp) has witnessed its full-year 2016 net profits decline 49% to AUS $169 million (FY 2015: AUS $334 million). Presenting its FY 2016 results (financial period ending 30 June), Tabcorp governance stated that 2016 business conditions had been ‘Volatile.’ The gambling operator would report …

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Favourit ceases operations following Celsius ASX block

Australian online betting operator Favourit (favourit.com) has ceased its operations, no longer accepting wagers or deposits from customers following its failed Australian Securities Exchange (ASX) IPO by  new owners Celsius Coal (Celsius). This weekend Australian business news sources reported that Perth businessman Ranko Matic, investor in mining company Celsius, had been blocked off the company’s planned ASX listing by Australia’s Securities …

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Unfavourable sporting results impact Tabcorp 2016 performance

Unfavourable sporting results have impacted Australian gambling operator Tabcorp’s nine-month corporate update (period ending 31 March). Issuing a market release, Tabcorp governance detailed that the company had seen revenue growth in all its core divisions; ‘Wagering & Media’ ‘Gaming Services’ and ‘Keno’, with the operator posting a 1% increase in revenues to AUS $1.4 billion. Higher customer engagement had seen Tabcorp …

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Favourit announces $6 million ASX listings plan

Australian based, European focussed online betting operator Favourit has announced that it plans to list a public offering on the Australian Securities Exchange (ASX listing). The listings move comes as the operator completes its takeover of ASX-placed mining firm Celsius Coal Ltd. Favourit governance detailed that the company aims to raise circa AUS $6 million (£3.2 million) on its ASX …

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TopBetta seeks September ASX listing

Australian wagering and fantasy sports operator TopBetta is set to list on the Australian Securities Exchange (ASX) as its seeks to raise between AUS $5 – $7 million in investment. The company has targeted a September listing, as it seeks to fund its expansion within the burgeoning Australian online betting market. TopBetta governance stated that it would use its hybrid …

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