Tabcorp says it’s taking time to carry out a strategic review of its businesses to extract more value for shareholders after receiving unsolicited bids for its wagering and media business, which it says were too low.
Tabcorp Holdings said it views the unsolicited approaches for its wagering and media business are too low. The proposals, including an offer from the U.K.'s Entain, were for $3 billion.
Tabcorp said its first half net profit after tax fell 7 percent to A$185 million, while revenue declined 1.5 percent, "primarily due to Covid-19 impacts."
Australia is again turning up the heat on gambling companies, this time with a bill that will make them responsible to compensate victims of players who used funds obtained illegally.
Australian's gambled more during the Covid-19 outbreak, despite a lack of access to venues, with the proportion who gambled four or more times a week increasing from 23 percent to 32 percent, according to the Australian Gambling Research Centre.
Tabcorp posted an 8.7 percent increase in revenue in the first full year after combining with Tatts Group, with a strong contribution from its lottery and keno division.
Australian gaming giant Tabcorp has announced a new single identity for its Gaming Services business, with the aim of simplifying the integration of services and delivery across venues, The Shout reports. Revealed at the Australasian Hospitality and Gaming Expo in Brisbane last week, the refreshed gaming services identify will bring together Tabcorp’s MAX, eBET, Tabcorp […]
Australian wagering giant Tabcorp Holdings Ltd posted narrowed net profit in the first half of the 2017 financial year, down 28.1 percent to A$58.9 million (US$4.5 million). According to the company’s filing to the Australian Stock Exchange on Thursday, the results, which were below expectation, were largely attributed to significant terms after tax caused by […]