Tag Archives: Tabcorp Holdings

Tabcorp CEO Adam Rytenskild resigns over ‘offensive workplace language’

SBC News Tabcorp CEO Adam Rytenskild resigns over 'offensive workplace language'

Tabcorp Holdings has informed markets that Adam Rytenskild has resigned with immediate effect as CEO of the ASX-listed wagering and racing media group. Investors were informed this morning of the immediate departure of Rytenskild who faces “allegations of using ‘inappropriate and offensive’ language in the workplace.” Tabcorp said its board considered the language used by the CEO to be inconsistent …

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Tabcorp wins exclusive Victoria 2024-to-2043 wagering licence

VGCCC hands largest ever AUS$1m fine to Tabcorp

Tabcorp Holdings has won the exclusive tender to operate the Wagering and Betting Licence of the State of Victoria. 2024 will see the Victorian government modernise the state’s wagering regime to improve consumer protections and tax collection from betting duties. Tabcorp’s flagship TAB brand will serve as the exclusive operator for retail wagering and betting in Victorian pubs for a …

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Tabcorp appoints Mark Howell as inbound CFO to boost 2025 vision

SBC News Tabcorp appoints Mark Howell as inbound CFO to boost 2025 vision

The board of Tabcorp Holdings has confirmed the appointment of Mark Howell as the new Chief Financial Officer (CFO) of the ASX-listed sports betting and racing media group. Subject to regulatory approvals, Howell will take over the role ‘before the end of June 2024’ and will replace Daniel Renshaw, who announced his departure from Tabcorp’s executive leadership team in September, …

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Tabcorp prices $289m of long-term debt to ‘fund growth options’

ASX Tabcorp

Australian betting and media operator Tabcorp Holdings has moved to diversify its funding sources through the pricing of a $289m issue of long-term debts. Issued to its investors in the US private placement market, the notes are scheduled to settle in March 2023, subject to customary conditions, and comprising two tranches denominated in US$. The notes have a weighted average …

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Tabcorp reserves $150m to accelerate Rytenskild digital makeover

Adam Rytenskild

Adam Rytenskild, the new Chief Executive of a transformed Tabcorp Holdings, has outlined his determination to revitalise the heritage operator’s online sportsbook performance. Speaking to the Australian Financial Review (AFR.com), Rytenskild admitted that the ASX group’s flagship TAB sportsbook property had fallen behind the ‘nimble competitors’ of Sportsbet AU (Flutter Entertainment) and Ladbrokes Australia (Entain Plc).    Rytenskild stated that …

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Entain expresses disappointment at Tabcorp demerger plans

SBC News Entain expresses disappointment at Tabcorp demerger plans

Entain has issued a statement expressing ‘disappointment’ at the decision by Australian operator Tabcorp Holdings to demerge its Wagering & Gaming and Lotteries & Keno businesses. Making its announcement this morning, Tabcorp revealed plans to establish the aforementioned business sections as independent ASX registered companies – known as Wagering & GamingCo and Lotteries & KenoCo respectively – with jurisdiction across …

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Gregg confirms break-up of Tabcorp business

SBC News Gregg confirms break-up of Tabcorp business

Tabcorp Holdings will proceed with its intentions to demerge its Lotteries & Keno and Wagering & Gaming units with the objective of ‘creating two market leading companies’, following the completion of its ‘comprehensive strategic review’. Approved by company Chairman Steven Gregg and the company’s new board of directors, Tabcorp believes that the unit divestments will deliver Tabcorp investors their long-awaited …

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BetMakers tables AUS $4bn buyout of TAB to tempt shareholders to form a new Aussie giant.  

SBC News BetMakers tables AUS $4bn buyout of TAB to tempt shareholders to form a new Aussie giant.  

BetMakers has become the latest suitor to show its hand in the pursuit to acquire Tabcorp Holdings TAB wagering and media unit.  The ASX-listed racing and wagering systems provider submitted its deal proposal, which values Tabcorp wagering assets at AUS $4 billion (€2.5bn). Wooing Tabcorp shareholders, BetMakers stated that it had proposed the most compelling acquisition for TAB, whose customer …

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Apollo tables AUS $4bn offer for TAB

SBC News Apollo tables AUS $4bn offer for TAB

US private equity fund Apollo Global has entered the pursuit of Australia’s highly prized TAB by tabling an initial AUS $4 billion (€2.5bn) offer to acquire the Tabcorp Holdings wagering unit. Apollo’s bid sees the US fund target taking control of Tabcorp’s wagering and media division and its further related ‘pokies’ machine subsidiary unit.  A secondary offer of AUS 3.5 …

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Entain first to bat with AUS $3bn cash-offer for TAB

Tabcorp revenue bitten by ‘softer trading’ in 1Q24

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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