The Supreme Court of Victoria has approved the scheme of arrangement for the combination of Tabcorp and Tatts Group, with the two companies now finally given a clear path to implementing their much anticipated merger.
On Tuesday, Tatts announced that its shareholders approved of the company’s merger with Tabcorp Holdings Limited, with 98.6 percent of votes cast by Tatts shareholders in favour of the resolution.
In a media release on Wednesday, Tabcorp said: “The combination creates a world-class, diversified gambling entertainment group, with a large national footprint and a diverse suite of product offerings across wagering, media, lotteries, Keno and gaming services.”
The merger is scheduled to be implemented on Dec. 22, 2017.
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.
Kenanga Research expects Malaysia's casino operator to rebound more swiftly than its number forecast operators, as border restrictions ease. The sector valuation remains attractive as gaming stocks were still 15-26 percent cheaper than a year ago.
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.