Tag Archives: ASX

Racing and Sports PTY upsizes IPO as Entain backs ASX enterprise

Entain Plc is reported to be backing the upcoming ASX IPO of Racing and Sports PTY – the dedicated premium data, content and media supplier for Australian horseracing.  Sydney-based investment fund Ord Minnett confirmed that Racing and Sports would be elevating its target IPO raise to AUS $29 million (€19m) in order ‘to accommodate a cornerstone investment by Entain’. Though …

Read More »

SBC Leaders: We must not homogenise the Latin American market

Latin America is a region which has caught the attention of many looking to expand their international footprint over the last few years. But when looking at this market, betting operators must be wary of homogenising the region according to Logrand Entertainment COO Lenin Castillo. In the front-cover interview for the latest edition of SBC Leaders magazine, which is available …

Read More »

Scientific Games reviews ASX options to trim debt 

Scientific Games Corporation (SGC) is reportedly reviewing strategic options to list its business on the Australian Securities Exchange (ASX).  The Australian Financial Review (AFR) has reported that SGC has recruited Sydney-based investment bank Jarden Australia to draft the company’s pathway towards listing on the ASX. An ASX-listing is detailed as one option to address SGC’s long-term debt reduction, which currently …

Read More »

Tabcorp calls off CEO search as board reviews all future options

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 …

Read More »

Hot pursuit is on for Tabcorp shake-up

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 …

Read More »

Entain pursues Tabcorp’s floundering wagering units

Entain Plc has this morning issued a short statement confirming Australian media speculation that it has made a formal approach to acquire Tabcorp Holdings‘ ‘wagering and media’ assets.  The FTSE100 betting group said that ‘discussions were at an early stage’ and chose not to disclose any information with regards to its valuation of Tabcorp’s sports betting assets.  Entain stated that …

Read More »

BetMakers leads €34m pursuit of Sportech to supercharge global outlook

BetMakers Technology Group has this morning communicated that it has reached a ‘binding agreement’ with the board of Sportech Plc to acquire the company for AUS $56.2 (€34m) valuation, undertaken on a cash-free / debt-free basis. The ASX-listed technology group will acquire all Sportech US, European and UK assets and IPs, establishing the company as the leading global supplier of …

Read More »

Dwyer and Attenborough warn of Tabcorp’s civic duties as company transitions to a new era

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 …

Read More »

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 …

Read More »

Melbourne spike sees Tabcorp close TAB Victoria betting shops

Tabcorp Holdings has been forced to close a significant number of TAB betting shops and agents across Victoria, after State Premier Daniel Andrews enforced a further coronavirus lockdown. On Monday, following a spike of more than 200 new cases in the district area of Melbourne, the Victoria government issued a border closure between Victoria and New South Wales – Australia’s …

Read More »