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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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 …
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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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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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2020’s Autumn months held no respite for betting leadership, as the sector was placed at the forefront of global business headlines reporting on inbound changes be it through regulatory challenges, M&A or leadership changes… SBC – Politics and M&A make global betting the headline maker… The betting industry’s autumn proceedings begun with further political maneuverers centred around the UK government’s …
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SBC recounts the events of an unprecedented and relentless 2020, an unforgettable year that has disrupted all betting components and relationships… SBC – Spain cracks the whip as betting leadership accepts wider responsibility remits European online gambling leadership was given no grace period to ease into a new decade of regulatory complexities, as a newly formed Spanish coalition government signed …
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Racecourse Media Group (RMG) and Sports Information Services (SIS) have formalised a multi-year streaming and marketing content arrangement with Sportsbet Australia, allowing the operator to broadcast and take bets on British and Irish racing The deal will see British and Irish thoroughbred racing – which is shown on Tabcorp’s (TAB) SKY Racing network on the TAB app, in venues and …
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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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Senet, a multidisciplinary consultancy specialising in gambling compliance, law and business guidance for Australia’s wagering marketplace, has confirmed the appointment of Paul Newsom as its new Head of Advisory Practice. A recognised figurehead for Australian gambling, Newsom most recently served as Deputy Secretary of the New South Wales Department of Industry, responsible for liquor, gambling and racing public policy and …
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Australian racing and wagering company Tabcorp has completed the institutional component of its AU$600 million entitlement offer, with the 97% take-up raising AU$371 million. Tabcorp’s latest financing transaction was revealed following last week’s publication of the ASX gambling group’s 2019/2020 fiscal results, recording operating losses AUS $870 million (€520m), primarily attributed to ‘asset impairment charges’ restructuring the firm’s wagering units. …
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