Tag Archives: Tabcorp Holdings

Entain expresses disappointment at Tabcorp demerger plans

Entain has issued a statement expressing ‘disappointment’ at the decision by Australian operator Tabcorp Holdings to demerge its Wagering & Gaming and Lotteries & Keno businesses. Making its announcement this morning, Tabcorp revealed plans to establish the aforementioned business sections as independent ASX registered companies – known as Wagering & GamingCo and Lotteries & KenoCo respectively – with jurisdiction across …

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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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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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Tabcorp raises $230m through retail bookbuild

Tabcorp Holdings has confirmed that it has completed the ‘retail component’ of its AU$600 million (€370 million) entitlement offer, having raised approximately AU$230 million (€142 million). Completing the retail phase of its entitlement offer authorised following Tabcorp publishing its 2019 results, the ASX gambling group sold 8.5 million retail entitlements through the placement generating $2.7 million for company shareholders. 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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Tabcorp expects $1bn hit as ‘COVID and retail contractions’ take effect

Tabcorp Holdings will write down its wagering and media business by at least AUD $1 billion (€605m) as a result of COVID-19 shutdowns and ‘the possible acceleration of retail contraction’. The company made its statement in a filing to the ASX Exchange, in which it revealed that it had undertaken a ‘review of assets’ in which it expects to incur …

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Tabcorp calls for leadership makeover as Attenborough ends CEO tenure

Tabcorp Holdings has confirmed that Group Chief Executive David Attenborough will be stepping down in the first half of next year. Attenborough initially joined Tabcorp in April 2010 as managing director for wagering. He then became Managing Director and CEO following Tabcorp’s demerger of its former casinos business in June 2011. As CEO of Tabcorp, Attenborough led the firm’s AUS …

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