Business
July 21, 2021
Tabcorp Won’t Resist If Credit Cards for Online Gambling Are Banned
Australia’s biggest gambling company, Tabcorp, states that it will not oppose a ban on credit cards as a payment method in Australia. The company also added that this will not present a problem, as long as lottery tickets can still be sold by local newsagents. Speaking on the latest developments, including COVID-19, Tabcorp stated that […]
Business
July 5, 2021
Tabcorp Denies Bidders, Creates Two Separate Business Entities
Australian gambling company Tabcorp Holdings announced today it is not going to sell its media and gaming businesses and instead, will undertake a demerger to split the business into two separate entities. Strategic Review Complete The announcement marks the end of the strategic review undertaken by Tabcorp on March 29, 2021, in an attempt to […]
Business
June 28, 2021
Entain Ready to Blow Competition for TAB, Mulling AU$4B+ Bid
UK-based gambling group Entain is mulling a new enhanced offer for Tabcorp’s media and sports betting assets to blow out competitors and acquire the business, several media in Australia report. TAB Bidding Impasse Having seen its opening bid for the Australian sports betting business of AU$3 billion ($2.3 billion) rejected in February, Entain followed with an improved proposal to AU$3.5 billion ($2.7 billion) in April, and now it […]
Business
June 1, 2021
Entain Puts Pressure on Tabcorp to Make a Deal, but a New Wrinkle Emerges via FOX Bet
Should Tabcorp decide to spin off its gaming and lottery units into stand-alone companies, it’s going to fail. That’s the message Entain has sent to the company in an effort to convince Tabcorp decision-makers to accept its offer to acquire the units. Australia-based Tabcorp has had difficulty shoring up its gaming operations lately, which led […]
Business
May 28, 2021
The Battle for Tabcorp heats up as BetMakers Decides to Join in the Race
Tabcorp has suddenly become very popular in Australia, but not with gamblers. The company has fallen on hard times because of COVID-19 and Apollo Global Management and Entain had started a bidding war to try to convince it to sell its gaming assets. A third company has now joined as BetMakers Technology Group Ltd has […]
Business
May 7, 2021
Tabcorp Receives $4bn Offer by Apollo for Wagering Business
As Tabcorp continues with a review of its media and wagering business, Apollo Global Management has entered the bidding process, tabling a $4 billion offer. Apollo Joins the Race for Tabcorp’s Media and Wagering Assets Tabcorp’s (TAB) wagering and media business continues to be as tempting a prospect as ever, as Entain has already submitted […]
Business
April 27, 2021
Tabcorp Confirms Renewed Entain Bid, Continues with Review
Entain has put forward a revised offer to buy out Tabcorp’s sports gambling business with $3.5 billion now the best option available on the table. Bids for Tabcorp Are Still Unsatisfactory The gentlemanly bidding war for Tabcorp’s media and sports betting operations in Australia counties as Entain may have fallen short with its renewed $3.5 […]
Business
March 29, 2021
Tabcorp Turns Down Entain $3bn Bid, Says It’s “Little Light”
After a month to consider, Tabcorp has turned down a $3bn bid by Entain for the company’s wagering and media division, arguing that the bidder has underestimated the company’s actual value. Tabcorp Says No to $3bn Entain Bid Tabcorp has formally rejected a $3 billion bid by Entain this morning and has launched a broad strategic review […]
Business
February 17, 2021
Lottery and Wagering Revenue Boost Tabcorp’s Recovery
Tabcorp Holdings’ reported a slight 1.5% group revenue decrease for the first half of 2020/2021 with the company’s lottery and wagering units offsetting the slump in the Gaming Services division. Tabcorp On the Path to Recovery After Challenging 2020 Australia’s largest gambling company Tabcorp has released its 2020/2021 interim results for the period ending 31 […]
Industry
February 8, 2021
Potential Tabcorp Takeover Faces Additional Hurdles
The potential sale of Tabcorp wagering and media business will face challenges from the ACCC and businessman Peter V’landys. ACCC Closely Monitoring Tabcorp Takeover The Australian Competition and Consumer Commission (ACCC) has announced that it is closely monitoring the mounting interest in gambling and gaming giant Tabcorp Holdings’ wagering and media arm. Last week, Tabcorp […]