Tag Archives: Steven Gregg

Tabcorp split signals new era for Australian betting 

Australian gambling stands on the verge of a market transformation, as shareholders of ASX gambling group Tabcorp Holdings have unanimously approved splitting the business.  This morning, Tabcorp’s board disclosed that 99% of shareholders had approved for the demerger of ‘The Lottery Corporation Limited’ – the unit that operates the Tatts Lotto and Keno business across Australia’s six states. The demerger …

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Tabcorp secures approval to spin-off Tatts lottery business

Directors of the Australian lottery, gaming and wagering corporation Tabcorp have ‘unanimously recommended’ that shareholders vote in favour of the proposals to demerge its Tatts lottery and keno operations from its gaming and wagering business. Publishing its ‘Demerger of The Lottery Corporation – Briefing Presentation’, the firm detailed the proposed new business structure which would see Tabcorp separate into two ASX-listed …

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Tabcorp sees TAB comeback jinxed by NSW venue restrictions 

Tabcorp Holdings has underlined that its business recovery continues to be affected by COVID-19 restrictions applied across Australia’s five-state provinces.  Publishing its half-year 2021/2022 results for the six-month period ending 31 December, the ASX gambling group recorded a 2% increase in corporate revenues to AUS $2.93 billion (€1.52 bn). Topline growth was attributed to Tabcorp’s Lotteries-&-Keno unit registering an 11% …

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Gregg confirms break-up of Tabcorp business

Tabcorp Holdings will proceed with its intentions to demerge its Lotteries & Keno and Wagering & Gaming units with the objective of ‘creating two market leading companies’, following the completion of its ‘comprehensive strategic review’. Approved by company Chairman Steven Gregg and the company’s new board of directors, Tabcorp believes that the unit divestments will deliver Tabcorp investors their long-awaited …

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BetMakers tables AUS $4bn buyout of TAB to tempt shareholders to form a new Aussie giant.  

BetMakers has become the latest suitor to show its hand in the pursuit to acquire Tabcorp Holdings TAB wagering and media unit.  The ASX-listed racing and wagering systems provider submitted its deal proposal, which values Tabcorp wagering assets at AUS $4 billion (€2.5bn). Wooing Tabcorp shareholders, BetMakers stated that it had proposed the most compelling acquisition for TAB, whose customer …

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Apollo tables AUS $4bn offer for TAB

US private equity fund Apollo Global has entered the pursuit of Australia’s highly prized TAB by tabling an initial AUS $4 billion (€2.5bn) offer to acquire the Tabcorp Holdings wagering unit. Apollo’s bid sees the US fund target taking control of Tabcorp’s wagering and media division and its further related ‘pokies’ machine subsidiary unit.  A secondary offer of AUS 3.5 …

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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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Entain first to bat with AUS $3bn cash-offer for TAB

Entain Plc has emerged as the first suitor to disclose its interest in acquiring Tabcorp Holdings’ TAB racing and sports betting unit, tabling an AUS $3 billion (£1.9 bn) all-cash offer to take control of the underperforming business. The FTSE100 firm’s cash offer represents, it said, the ‘market valuation’ placed by ASX analysts on Tabcorp’s wagering unit.   The Australian Financial …

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TAB chasing pack must clear regulatory hurdles

Suitors pursuing a break-up of Tabcorp Holdings’ wagering and media assets will have to clear a number of regulatory hurdles in order to complete a deal. As further parties declare their interests in bidding to acquire TAB, the Australian Competition and Consumer Commission (ACCC) has stated that it is ‘monitoring developments closely’ in a situation that will likely change the …

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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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