{"id":222,"date":"2021-05-17T16:20:26","date_gmt":"2021-05-17T13:20:26","guid":{"rendered":"https:\/\/xxbet-company.com\/entain-ups-tabcorp-takeover-offer-to-2-7b-eyes-dominant-australia-perch\/"},"modified":"2021-05-17T16:20:26","modified_gmt":"2021-05-17T13:20:26","slug":"entain-ups-tabcorp-takeover-offer-to-2-7b-eyes-dominant-australia-perch","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/de\/entain-ups-tabcorp-takeover-offer-to-2-7b-eyes-dominant-australia-perch\/","title":{"rendered":"Entain Ups Tabcorp Takeover Offer to $2.7B, Eyes Dominant Australia Perch"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Inhaltsverzeichnis<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/de\/entain-ups-tabcorp-takeover-offer-to-2-7b-eyes-dominant-australia-perch\/#Aussie_Allure_Makes_Tabcorp_Attractive_Target\" title=\"Aussie Allure Makes Tabcorp Attractive Target\">Aussie Allure Makes Tabcorp Attractive Target<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/de\/entain-ups-tabcorp-takeover-offer-to-2-7b-eyes-dominant-australia-perch\/#Entain_Could_Have_Company\" title=\"Entain Could Have Company\">Entain Could Have Company<\/a><\/li><\/ul><\/nav><\/div>\n<p>Entain Plc (OTC:GMVHY) is making another run at Tabcorp\u2019s betting and media businesses, raising its acquisition bid to $2.7 billion from $2.28 billion.<\/p>\n<figure aria-describedby=\"caption-attachment-171971\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-171971 size-full lazyload\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/entain-142x107.jpg?x38396\" data-src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/entain-142x107.jpg?x38396\" alt=\"Entain Tabcorp\" width=\"1200\" height=\"900\" data-srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/entain.jpg 1200w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/entain-142x107.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/entain-1024x768.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/entain-768x576.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data- title=\"\"><img loading=\"lazy\" class=\"wp-image-171971 size-full\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/entain.jpg?x38396\" alt=\"Entain Tabcorp\" width=\"1200\" height=\"900\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/entain.jpg 1200w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/entain-142x107.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/entain-1024x768.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/entain-768x576.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" title=\"\"><figcaption class=\"text-description\">A Ladbrokes betting shop in the UK. Owner Entain increased its takeover bid for Tabcorp. (Image: <em>The Guardian<\/em>)<\/figcaption><\/figure>\n<p>Both companies confirm the revised proposal. The new offer from UK-based Entain arrives about a month after the Australian target <a href=\"https:\/\/www.casino.org\/news\/tabcorp-turns-back-entain-2-28-billion-acquisition-offer\/\" rel=\"nofollow noopener\" target=\"_blank\">rejected the initial $2.28 billion<\/a> overture, calling it inadequate. Tabcorp isn\u2019t saying much about the new bid, aside from that it\u2019s being evaluated.<\/p>\n<p>\u201cThe revised proposal continues to be subject to numerous conditions, including due diligence, arranging financing, receipt of all relevant regulatory approvals, and obtaining various third party approvals and consents,\u201d said the Australian gaming operator.<\/p>\n<p>The Tabcorp Board has not yet formed a view on the merits of the revised proposal and will assess it in the context of the previously announced strategic review.\u201d<\/p>\n<p><strong>Following Entain\u2019s original takeover proposal, Tabcorp promised a strategic review of its media and wagering units, stating that the process could result in a sale to a third party, a spin-off, or divestment of its keno and lottery units.<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Aussie_Allure_Makes_Tabcorp_Attractive_Target\"><\/span>Aussie Allure Makes Tabcorp Attractive Target<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the investment community these days, the sports betting thesis <a href=\"https:\/\/www.casino.org\/news\/super-group-eyes-nyse-listing-in-sports-entertainment-spac-deal\/\" rel=\"nofollow noopener\" target=\"_blank\">largely revolves around the US<\/a> \u2014 a fast-growing market that isn\u2019t yet as mature as Australia or the UK.<\/p>\n<div class=\"callout\">\n<p>That doesn\u2019t diminish the allure of Tabcorp for Entain, or any suitor, for that matter. But the Aussie company is a particularly compelling target for the Ladbrokes owner. The British company has a four percent share in Australia\u2019s horse racing and sports betting segment. But Tabcorp has nearly 11 times that at 43.7 percent, meaning a combined entity would control nearly half the market.<\/p>\n<\/div>\n<p>\u201cThe proposed transaction would be in line with Entain\u2019s current M&#038;A strategy, and presents an opportunity to acquire an attractive business, which, when combined with Entain\u2019s existing Australian business, would create a leading, integrated multi-channel and multi-brand wagering company,\u201d according to the British operator.<\/p>\n<p>Australia is also home to devoted bettors. Aussies between the ages of 18 to 49 spend almost $775 a month on sports bets \u2014 good for one of the highest clips in the developed economies \u2014 according to the Australian Gambling Research Center. In 2018, nearly $24 billion was spent there on horse racing and sports wagering.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Entain_Could_Have_Company\"><\/span>Entain Could Have Company<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Entain isn\u2019t the only suitor for Tabcorp. The target previously disclosed to the Australian Securities Exchange (ASX) that it received multiple offers.<\/p>\n<div class=\"callout\">\n<p>While only the Coral owner is openly confirming a bid, Rupert Murdoch\u2019s Fox Corp. (NASDAQ:FOXA) is rumored to be <a href=\"https:\/\/www.casino.org\/news\/fox-could-bid-for-tabcorp-to-increase-sports-betting-exposure\/\" rel=\"nofollow noopener\" target=\"_blank\">considering a run at Tabcorp<\/a>, too. The media giant is actively looking for avenues to bolster its sports wagering exposure in the US and other countries. There\u2019s also speculation private equity firm Apollo Global Management (NYSE:APO) could join the Tabcorp bidding process.<\/p>\n<\/div>\n<p>Some analysts see <a href=\"https:\/\/www.casino.org\/news\/mgm-stock-upside-could-be-strong-thanks-to-betmgm\/\" rel=\"nofollow noopener\" target=\"_blank\">Entain as a possible takeover target<\/a>, noting that MGM Resorts International (NYSE:MGM) \u2014 its partner on the BetMGM unit \u2014 could revisit an acquisition offer that was turned back earlier this year.<\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/entain-boosts-tabcorp-takeover-offer-to-2-7-billion\/\" target=\"_blank\">Entain Ups Tabcorp Takeover Offer to $2.7B, Eyes Dominant Australia Perch<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Entain Plc (OTC:GMVHY) is making another run at Tabcorp\u2019s betting and media businesses, raising its acquisition bid to $2.7 billion from $2.28 billion. A Ladbrokes betting shop in the UK. Owner Entain increased its takeover bid for Tabcorp. (Image: The Guardian) Both companies confirm the revised proposal. The new offer from UK-based Entain arrives about <a href=\"https:\/\/xxbet-company.com\/de\/entain-ups-tabcorp-takeover-offer-to-2-7b-eyes-dominant-australia-perch\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts\/222"}],"collection":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/comments?post=222"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts\/222\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/media\/223"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/media?parent=222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/categories?post=222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/tags?post=222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}