Tag Archives: tabcorp

Tabcorp promotes Adam Rytenskild as Wagering & Media lead

Updating the market, Australian ASX-listed gambling operator Tabcorp Holdings has confirmed the promotion of Adam Rytenskild as new Chief Operating Officer of its Wagering & Media division. Tabcorp makes the appointment in preparation for the retirement of Craig Nugent as leader of the division later this year. Since 2000, Rytenskild has served in a variety of Tabcorp group senior executive …

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‘Disappointing’ Sun Bets one of many impacts on Tabcorp balance sheet

Major Australian operator Tabcorp believes it has learned some lessons in its involvement with new UK operator Sun Bets, although these appear to have come at a rather expensive cost. The performance of the brand was one of three major deficits to Tabcorp’s balance sheet, which has seen the company report a loss for the financial year of AU$20.8m (£12.6m) …

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CrownBet backs ACCC filing against ACT’s review of Tabcorp-Tatts

James Packer’s CrownBet has again reiterated its stance against the AUS $11 billion merger of Tabcorp Holdings and Tatts Group Plc, by filing a judiciary appeal against the deal’s progress. CrownBet joins the Australian Competition & Consumer Commission (ACCC) in demanding a new competition review of Tabcorp-Tatts, stating that review body Australian Competition Tribunal (ACT) had acted in an ‘inconsistent’ …

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ACCC demands new review of Tabcorp-Tatts merger highlighting ACT review failures

The Australian Competition & Consumer Commission (ACCC) has filed a federal court order demanding a ‘further judicial review’ of the AUS $11 billion merger of Tabcorp Holdings and Tatts Group Plc. The Tabcorp-Tatts combination to form the ‘outright Australian gambling market leader’ was approved on 20 June by the Australian Competition Tribunal (ACT). However, the ACCC who acted as the …

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Sky Racing World sets the gallop with Korea Racing Authority partnership

Sky Racing World, the Kentucky-based distributor of international horse racing content, and subsidiary of Tabcorp, has partnered with the Korean Racing Authority (“KRA”.  Under the new partnership, Sky Racing World will distribute horse racing content from the KRA operated LetsRun Park Seoul and Busan-Gyeongnam tracks to advance depositing wagering (“ADW”) sites throughout America and Europe from August 3rd, 2017. The …

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ACT says YES to Tabcorp-Tatts AUS $11 billion merger

Following an arduous nine-month regulatory compliance review, the AUS $11 billion merger of Tabcorp Holdings and Tatts Group has received approval by The Australian Competition Tribunal (ACT). Tabcorp governance this morning issued a corporate update detailing the ACT’s ‘merger greenlight’, with full details of its competition review expected to be published on Thursday 22 June. Updating investors, Tabcorp governance stated …

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Australian betting industry awaits ACT’s Tabcorp-Tatts merger decision

Australia betting/gambling industry stakeholders await the official Australian Competition Tribunal (ACT) decision with regards to the AUS $11 billion Tabcorp Holdings and Tatts Group merger (deal first announced October 2016). Throughout May, the ACT has examined heated debate and opinion with regards to the Tabcorp-Tatts combination to create the Australian gambling market’s outright leader. As the merger review enters its …

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Tabcorp governance told to explain unfair price plan ‘Project Alfred’

As the Australian Competition Tribunal (ACT) takes on the role of lead supervising body of the AUS $11 billion planned merger of Tabcorp Holdings and Tatts Group a number of industry stakeholders have addressed concern regarding the combination to create the Australia’s outright gambling market leader. This week, former merger review body The Australian Competition & Consumer Commission (ACCC) revealed …

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Tabcorp enters crucial week for Tatts merger

Tabcorp Holdings governance enters a crucial week for its planned AUS $11 billion merger with main market rival Tatts Group, as its takeover deal is set to be presented to the Australian Competition Tribunal (ACT). In a surprise move last March, Tabcorp governance announced that it had decided to switch the regulatory body reviewing its  Tatts merger ditching the Australia Competition …

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Pacific Consortium drops Tatts pursuit

Pacific Consortium the special vehicle of London private equity firm Macquarie Group and New York hedge fund Kohlberg Kravis Roberts (KKR) will no longer pursue its AUS $7.3 billion (£4.5 billion) acquisition of Australian gambling operator Tatts Group. The deal withdrawal follows Tatts’ board decision not to review Pacific’s latest takeover bid of $4.21-per-share combined with an investor ‘dividends add-on’ which the investment firm …

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