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Tabcorp receives multiple acquisition offers

Tabcorp has received offers for its gambling and media division.
Tabcorp has received offers for its gambling and media division.

Tabcorp has received multiple offers for its wagering and media business, including from the British gaming giant Entain.

Australia.- Australia’s largest gambling company Tabcorp has revealed that it has received “a number of unsolicited approaches and proposals” to acquire its wagering and media business.

Interest has come from several operators, including the British gaming giant Entain, formerly GVC Holdings.

Entain has made a non-binding indicative offer for the business as it looks to expand in regulated markets. It recently made a bid to acquire Enlabs in Europe.

The owner of the Bwin and Coral brands already has a small presence in Australia’s horse and sports betting market via Ladbrokes and Neds International.

Last month, Entain rejected a US$11bn takeover approach from US casino operator MGM Resorts International.

See also: Entain confirms Nygaard-Andersen as new CEO.

Tabcorp played down any certainty that a deal will be reached.

It said: “The proposals were expressed to be confidential, non-binding and subject to numerous conditions including due diligence, financing and various regulatory approvals.”

“There is no certainty that any transaction will occur.”

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