Tabcorp receives US$3.10bn offer from BetMakers

Tabcorp has received a new offer to acquire its wagering and media businesses, this time from BetMakers Technology Group Ltd.

Australia.- BetMakers has entered into the competition to acquire Tabcorp’s wagering and media business.

The company made an AU$4bn (US$3.09bn) offer through which Tabcorp would receive AU$1bn in cash and AU$3bn in BetMakers shares.

Matt Tripp, BetMakers’ strategic adviser, said: “Aside from the value that this offer is anticipated to unlock for shareholders in both companies, this is an incredibly exciting opportunity for the Tabcorp Wagering and Media business to maximise its commercial potential on a global scale.”

According to BetMakers, the acquisition could improve Tabocorp’s monetisation of its content globally by leveraging BetMakers’ technology and B2B expertise.

Tabcorp has not made any comments regarding the BetMakers offer.

A few weeks ago the British gaming giant Entain upped its original offer for Tabcorp from AU$3bn to AU$3.5bn.

Entain said: “[Entain] believes that the revised proposal is compelling both in terms of the value it represents for Tabcorp shareholders in cash, and certainty of deliverability.”

Apollo Global Management has put two offers on the table for Tabcorp, one equaling the offer made by Entain and another offering US$3.10bn including Tabcorp’s gaming services business.