Tabcorp Holdings on Tuesday announced that its wholly-owned subsidiary, Tatts Online Pty Ltd, has exercised in full its option to purchase an additional 3.5 million shares in Jumbo Interactive Limited.
The purchase would be made at an exercise price of $2.37 per share.
However, in conjunction with the share acquisition, Tabcorp also announced it had sold 2.9 million Jumbo shares to a group of institutional investors.
The end result puts Tabcorp in a position of owning 7.2 million shares, representing 12.49 percent of Jumbo shares.
Tabcorp says it has no intention to sell any of its remaining shareholding in Jumbo.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.