• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 12 April 2021
  • 中文中文
  • 日本語日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Macau
    • Malaysia
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Macau
    • Malaysia
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
No Result
View All Result
IAG
No Result
View All Result

Tabcorp to launch strategic review after rejecting initial offers for Wagering & Media business

Ben Blaschke by Ben Blaschke
Monday 29 March 2021 at 06:40
US media giant Fox Corp said to be eyeing racing and wagering arm of Australia’s Tabcorp
25
SHARES
635
VIEWS
Print Friendly, PDF & Email

Australian betting giant Tabcorp has opted against accepting recent proposals by global gaming investors to acquire its Wagering & Media arm due to the offers undervaluing the asset, in the opinion of the Tabcorp Board. However, the company will hold a strategic review of all structural and ownership options which could see the Wagering & Media business sold at a higher price or result in a demerger.

The update, provided via a Monday morning ASX announcement, comes after UK online gaming firm Entain PLC recently confirmed it had made an offer for Tabcorp’s Wagering and Media arm. It has been rumored that US media conglomerate Fox Corp – overseen by Australia’s Lachlan Murdoch – is also eying a bid.

Tabcorp said Monday that it has has received several unsolicited approaches and proposals to acquire its Wagering & Media business, all valued at around AU$3 billion (US$2.3 billion).

“The Tabcorp Board has carefully considered the proposals and formed the view that the proposals do not adequately value Tabcorp’s Wagering & Media business,” the company said.

“Tabcorp has consequently decided to undertake a strategic review to assess and evaluate all structural and ownership options to maximize the value of Tabcorp’s businesses for the benefit of shareholders.

“These options could include a potential sale of the Wagering & Media business to a third party or a potential demerger, which could be implemented via a separation of the Wagering & Media business or the Lotteries & Keno business. As part of this process, Tabcorp is also resuming its strategic review of the Gaming Services business.”

With the strategic review being undertaken and overseen by the company’s Board of Directors, Tabcorp said it has placed the search for a new Managing Director & CEO on hold with David Attenborough to now continue while the review takes place.

RelatedPosts

Indian cricket’s new anti-corruption chief opposed to legalized sports betting

Indian cricket’s new anti-corruption chief opposed to legalized sports betting

Wednesday 7 April 2021 at 06:16
US media giant Fox Corp said to be eyeing racing and wagering arm of Australia’s Tabcorp

US media giant Fox Corp said to be eyeing racing and wagering arm of Australia’s Tabcorp

Thursday 18 March 2021 at 04:49
American Gaming Association says increase in legal sports betting to see 47 million bet on March Madness

American Gaming Association says increase in legal sports betting to see 47 million bet on March Madness

Monday 15 March 2021 at 05:19
Tabcorp cleared as Australian Federal Police close investigation into Cambodia sports betting bribery claims

Tabcorp reports healthy profit in 1H21 as lottery and wagering divisions hold firm against COVID-19 impact

Wednesday 17 February 2021 at 12:00
Load More
Tags: David AttenboroughEntain PLCsports bettingTabcorpwagering
Share10Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Crown of thorns

Crown of thorns

by Ben Blaschke
Friday 2 April 2021 at 18:09

Already deemed unsuitable to hold a casino license in New South Wales, there are still many chapters to be written...

China’s digital RMB: Macau’s Route to Recovery?

China’s digital RMB: Macau’s Route to Recovery?

by Victoria White
Friday 2 April 2021 at 17:50

Recent brokerage reports highlighted the potential benefits to the Macau market of accepting China’s new Digital RMB. In the first...

Land locked

Land locked

by Shintaro Kamimura
Friday 2 April 2021 at 17:11

In the March issue of IAG Japan, we explained the various issues Yokohama will need to overcome in order to...

Forward focused

Forward focused

by Ben Blaschke
Friday 2 April 2021 at 16:54

Inside Asian Gaming sits down with Lloyd Robson, General Manager – APAC for Aristocrat, to find out how the company...

Related Posts

POST-COVID5: Re-opening mood is growing. What will drive the ramp-up?

Opex higher, EBITDA lower for Macau operators in 1Q21: Morgan Stanley

by Ben Blaschke
Monday 12 April 2021 at 14:55

Macau’s casino operators are expected to report a 23% quarter-on-quarter decline in Corporate EBITDA for the three months to 31 March 2021, impacted by seasonality and an increase in operating expenses, according to investment bank Morgan Stanley. With results season...

Crown saga claims new scalp as Western Australia’s Chief Casino Officer steps down over conflict of interest claims

Western Australia Royal Commission into Crown Resorts starts today

by Newsdesk
Monday 12 April 2021 at 06:50

A Royal Commission into the conduct and suitability of Crown Resorts will get underway in Western Australia today, the second such Royal Commission now taking pace following the launch of a similar inquiry in Victoria last month. As previously reported...

Crown’s internal AML controls described by inquiry judge as a “debacle”

Former SkyCity director Bruce Carter jumps ship to Crown

by Ben Blaschke
Monday 12 April 2021 at 06:41

Crown Resorts has named former SkyCity Entertainment Group Deputy Chair Bruce Carter as the latest addition to its new-look Board of Directors. The appointment of Carter, pending regulatory approval, comes just three weeks after he stepped down from his 11-year...

New urban plan to expand Macau tourism areas but casino activity to remain within current locations

Macau government to expedite Wealth Partaking Scheme in 2021

by Newsdesk
Monday 12 April 2021 at 06:38

The Macau SAR Government has brought forward its Wealth Partaking Scheme in 2021, with the scheme to be implemented from this month due to the impacts of the COVID-19 pandemic on the economy and livelihoods. According to a Sunday announcement,...

About Alexa
IAG

© 2005-2021 Inside Asian Gaming. All rights reserved.

  • SUBSCRIBE
  • NEWS
  • FEATURES
  • PEOPLE
  • COLUMNISTS
  • TECH TALK
  • iGAMING
  • EVENTS
  • MACAU
  • JAPAN
  • REGIONAL
  • POWER 50

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Consulting
  • Events
  • Regional
  • Magazines
  • Advertise
  • Contact
  • About

© 2005-2021 Inside Asian Gaming. All rights reserved.