{"id":314,"date":"2021-06-05T10:37:25","date_gmt":"2021-06-05T07:37:25","guid":{"rendered":"https:\/\/xxbet-company.com\/entain-ceo-urges-tabcorp-to-take-his-bid-to-avoid-risky-rivals\/"},"modified":"2021-06-05T10:37:25","modified_gmt":"2021-06-05T07:37:25","slug":"entain-ceo-urges-tabcorp-to-take-his-bid-to-avoid-risky-rivals","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/es\/entain-ceo-urges-tabcorp-to-take-his-bid-to-avoid-risky-rivals\/","title":{"rendered":"Entain CEO Urges Tabcorp To Take His Bid to Avoid Risky Rivals"},"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\">Tabla de contenidos<\/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\/es\/entain-ceo-urges-tabcorp-to-take-his-bid-to-avoid-risky-rivals\/#Entain_Committed_to_Australia\" title=\"Entain Committed to Australia\">Entain Committed to Australia<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/es\/entain-ceo-urges-tabcorp-to-take-his-bid-to-avoid-risky-rivals\/#Other_Issues_to_Ponder\" title=\"Other Issues to Ponder\">Other Issues to Ponder<\/a><\/li><\/ul><\/nav><\/div>\n<p>Entain Australia CEO Dean Shannon, not surprisingly, believes his company\u2019s $2.7 billion proposal for Tabcorp\u2019s media and sports wagering businesses is the best in a growing field and is urging the operator to accept that bid.<\/p>\n<figure aria-describedby=\"caption-attachment-175153\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-175153 lazyload\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/dean-142x80.jpg?x38396\" data-src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/dean-142x80.jpg?x38396\" alt=\"Entain Tabcorp\" width=\"1200\" height=\"675\" data-srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/dean-142x80.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/dean-1024x576.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/dean-768x432.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/dean.jpg 1280w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data- title=\"\"><img loading=\"lazy\" class=\"wp-image-175153\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/dean-142x80.jpg?x38396\" alt=\"Entain Tabcorp\" width=\"1200\" height=\"675\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/dean-142x80.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/dean-1024x576.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/dean-768x432.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/dean.jpg 1280w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" title=\"\"><figcaption class=\"text-description\">Entain Australia CEO Dean Shannon. He believes his company\u2019s offer for Tabcorp assets is superior to rivals bids. (Image: <em>The Australian<\/em>)<\/figcaption><\/figure>\n<p>Speaking publicly on the matter for the first time today, Shannon took aim at two competing offers for the Tabcorp units. That includes the $3.1 billion proposal from BetMakers <a href=\"https:\/\/www.casino.org\/news\/betmakers-joins-bidding-party-for-tabcorp-media-sports-betting-assets\/\" rel=\"nofollow noopener\" target=\"_blank\">revealed last week<\/a>. He noted Entain is committed to growing those assets over the long haul \u2014 something rival suitors may not be able to commit to.<\/p>\n<blockquote class=\"main-blockquote\">\n<p>I think the offer is very ambitious. To me, it\u2019s just still a bunch of promises,\u201d said Shannon of the BetMakers pitch by way of the <i>Australian Financial Review. <\/i>\u201cWe\u2019re not private equity. They\u2019ll get the business and flip it. Matt Tripp\u2019s a dealmaker and perhaps he\u2019ll flip it at some point.\u201d<\/p>\n<\/blockquote>\n<p>Shannon\u2019s quip about private equity refers to Apollo Global Management (NYSE:APO), which is offering $3.1 billion for the Tabcorp assets, including the <a href=\"https:\/\/www.casino.org\/news\/apollo-revises-bid-for-tabcorp-betting-media-units\/\" rel=\"nofollow noopener\" target=\"_blank\">gaming services unit<\/a>. That business isn\u2019t part of the strategic review being conducted by the Australian company. Strip it out of the equation and Apollo\u2019s bid mirrors Entain\u2019s.<\/p>\n<p><strong>Matt Tripp is a well-known Australian bookmaker and special adviser to BetMakers. He was previously involved with Sportsbet and BetEasy, which eventually became rivals to Tabcorp<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Entain_Committed_to_Australia\"><\/span>Entain Committed to Australia<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Shannon is making clear Entain wants to build on its established footprint in Australia, noting his company wants to \u201cown this business forever.\u201d<\/p>\n<p>Combining Entain Australia\u2019s with Tabcorp\u2019s TAB would create a horse racing and sports wagering behemoth \u2014 one with approximately 48 percent share in one of the world\u2019s most active sports betting markets. It remains to be seen, but it\u2019s possible the UK-based company has the inside track relative to Apollo and BetMakers.<\/p>\n<div class=\"callout\">\n<p>Analysts expressed concern that the private equity firm\u2019s lack of sportsbook operating experience could create unnecessary <a href=\"https:\/\/www.casino.org\/news\/apollo-may-not-have-enough-sports-betting-exposure-to-win-tabcorp\/\" rel=\"nofollow noopener\" target=\"_blank\">hurdles with Australian regulators<\/a>. Regarding BetMakers\u2019 proposal, it\u2019s a mix of cash and equity, whereas Entain\u2019s bid is all cash. In essence, Entain is offering Tabcorp shareholders a monetization avenue in which they rid themselves of businesses the current owner has promised to enhance, but to no avail.<\/p>\n<\/div>\n<p>Under the BetMakers\u2019 scheme, Tabcorp investors retain ownership of the media and sports betting units, with no guarantees the new owner will perform any better than the current one. Tabcorp\u2019s board of directors <a href=\"https:\/\/www.casino.org\/news\/tabcorp-could-take-month-to-decide-on-sale-of-media-betting-arms\/\" rel=\"nofollow noopener\" target=\"_blank\">meets on June 20<\/a> and some clarity about the operator\u2019s plans could emerge on that date.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Other_Issues_to_Ponder\"><\/span>Other Issues to Ponder<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Adding to the intrigue are rumors that surfaced Sunday indicating <a href=\"https:\/\/www.casino.org\/news\/news-corp-may-team-with-matthew-tripp-on-aussie-sports-betting-group\/\" rel=\"nofollow noopener\" target=\"_blank\">News Corp Australia<\/a> is in advanced talks with a group led by Tripp. It\u2019s looking to form a new betting company and perhaps make a run at the Tabcorp assets.<\/p>\n<p><strong>Entain\u2019s Shannon says that scenario creates \u201cmore questions than it answers,\u201d because he\u2019s simultaneously involved with BetMakers and News Corp.<\/strong><\/p>\n<p>That could lead to conflicts, whereas the Entain offer, as Shannon notes, delivers the clarity Tabcorp investors are looking for.<\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/entain-exec-says-tabcorp-should-take-bid-risks-losing-share-falling-victim-to-other-suitors-promises\/\" target=\"_blank\">Entain CEO Urges Tabcorp To Take His Bid to Avoid Risky Rivals<\/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 Australia CEO Dean Shannon, not surprisingly, believes his company\u2019s $2.7 billion proposal for Tabcorp\u2019s media and sports wagering businesses is the best in a growing field and is urging the operator to accept that bid. Entain Australia CEO Dean Shannon. He believes his company\u2019s offer for Tabcorp assets is superior to rivals bids. (Image: <a href=\"https:\/\/xxbet-company.com\/es\/entain-ceo-urges-tabcorp-to-take-his-bid-to-avoid-risky-rivals\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":315,"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\/es\/wp-json\/wp\/v2\/posts\/314"}],"collection":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/comments?post=314"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/posts\/314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/media\/315"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/media?parent=314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/categories?post=314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/tags?post=314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}