ENTAIN IN ACQUISITION TALKS WITH TABCORP DOWN UNDER

British gambling giant Entain has made a non-binding indicative offer to acquire the wagering and media business of Australia-based Tabcorp Holdings Ltd. 

Rumours regarding a possible acquisition had been circulating, but Entain has now confirmed it is in early stage discussions with the Aussie company. 

Entain is pursuing a strategy of expanding across regulated international markets, so the acquisition of Tabcorp’s wagering & media division, which contributes almost 40% of Tabcorp’s revenue, and holds a 43% market share in the country’s horse racing and sports betting market, would be a logical move. 

Despite both Entain and Tabcorp stressing talks are at an early stage and no transaction has been agreed, Tabcorp’s shares surged 9% on the news. 

In January, Entertain appointed Jette Nygaard-Andersen as its new CEO, replacing Shay Segev, who delivered a surprise resignation earlier in the month.

All original content featured on this site is © Pentagon Digital Limited, 2019-2021.