<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=360133424683380&amp;ev=PageView&amp;noscript=1">

Tabcorp to carry out strategic review of its business with possibility of selling its wagering and media division

Valued at $10bn, Tabcorp said it would run a three-month strategic review in bid to sell its media and wagering division

Tabcorp has recjected a $3bn bid from British company Entain and says it's launching a broad strategic review of its business with the possibility of selling its wagering and media division.

The company revealed that it had received a number of “unsolicited approaches and proposals” from companies asking to acquire their wagering and media division.

Tabcorp chairmanEntain was among those companies who put this offer forward. The proposals valued the wagering and media arm at approximately US$2.29bn although Tabcorp's board concluded that these offers do not value the segment.

Tabcorp chairman Steven Gregg said “The assessment of Tabcorp’s strategic and ownership options includes, but is not limited to, a demerger or sale of one or more of our businesses.”

Tabcorp will do its best to maximise the value of its businesses for the benefits of shareholders. “Our clear objective is to ensure that we fully maximise the value of Tabcorp’s gambling entertainment businesses for our shareholders.”

Last July, Tabcorp announced that David Attennborough will step down from the role of managing director and Chief Executive Officer. The search for replacement will now be put on hold until the strategic review takes place.

SiGMA Roadshow - Next stop: Las Vegas:

After our successful roadshow in Ukraine -The SiGMA Roadshow's next stop is Las Vegas. Our Virtual Roadshow reflects SiGMA's global events opening in 5 major regions over the next few years, specifically Europe, the CIS region, Asia, the Americas and Africa. Our previous virtual event, held in Ukraine, welcomed over 2,500 delegate registrations and over 1,500 conference views. There were also over 75 exhibitors and the number of total booth entries hit close to a 6k mark. Join us for our next Virtual Roadshow to learn more about the US gaming market!

 

Related Posts

No more bonuses for Ukrainian gamers

Ukrainian gambling regulators have introduced a long list of new restrictions for operators, including a ban of player bonuses The Ukrainian ...