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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Entain to blowout all bid competition in pursuit of TAB
Australia’s sports betting incumbents will be closely monitoring the interim results of Entain Plc, published on Thursday 8 July, to see if the FTSE100 gambling group increases its offer to acquire Tabcorp Holdings’ TAB wagering unit. First off the mark, last February Entain launched its initial AUS $3 billion (€2bn) offer to acquire TAB’s wagering and media divisions – an …
Read More »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 …
Read More »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 …
Read More »Entain returns to Tabcorp table with AUS $3.5bn TAB offer
Entain Plc has this morning confirmed that it has revised its bid to acquire the TAB unit of Tabcorp Holdings, offering the ASX gambling group AUS $3.5 billion (€2.2bn) for its wagering and media division. The revised bid is increased from Entain’s opening offer of AUS $3 billion, proposed on 2 February – with the FTSE100 firm seeking to become …
Read More »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 …
Read More »Tabcorp points to recovery by delivering positive interim results
Tabcorp Holdings has reported improved group trading, as the company’s lottery and wagering units hold-up against continued COVID-19 challenges. Publishing its 2020/2021 interim results (period ending 31 December), Tabcorp records a 1.5% decline in group revenues to AUS $2.87 billion. Tabcorp underscored its slight revenue decrease as a ‘positive outcome’ given the maintained growth of its ‘lottery and keno’ division …
Read More »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 …
Read More »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 …
Read More »SIS takes greyhound content down under with Sportsbet deal
Sportsbet will strengthen its coverage of UK and Irish greyhound content after signing a new agreement with Sports Information Services (SIS). The operator’s new greyhound offering will consist of up to 53 meetings per week from British tracks including Central Park, Crayford, Doncaster, Harlow, Henlow, Hove, Monmore, Romford, and Towcester as well as Irish action from Cork, Kilkenny, Limerick, Mullingar, …
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