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Tatts Rejects Pacific Offer

TATTS REJECTS PACIFIC CONSORTIUM OFFER (Update)
 
Will Pacific respond by upping the ante?
 
Australian gambling group Tatts announced Friday that it has rejected an acquisition offer from the Pacific Consortium in favor of a prior merger offer from rival betting group Tabcorp.
 
The Tatts statement observed that in rejecting the offer it wouldn’t allow the Pacific Consortium to go through its books or engage in discussions over the group’s buy-out offer of up to A$7.34 billion.
 
In response, a Pacific Consortium spokesman said the group was reviewing its position, as well as a “material profit downgrade” by Tatts.
 
In its statement Friday, Tatts  revealed that EBITDA is expected to fall 14 percent year- on-year for the lotteries part of its business to about A$153 million due to a recent run of "unfavorable jackpots."
 
Our readers will recall that the Pacific Consortium is mainly interested in Tatts' lottery business, and has indicated that it would probably sell off the UBET wagering side of the company if its bid was successful.
 
Tatts described Pacific's valuation of its lottery business as "inadequate" and its business assumptions regarding the wagering component as "overly optimistic."
 
In its statement rejecting the Pacific offer, Tatts contended that the "total value" of the Pacific proposal did not present an opportunity that was "superior to the proposed Tabcorp merger" and asserted that even if Pacific were to up its offer it would "make the same determination."
 
Whether that will remain the case if Pacific does up the ante - which analysts predict will be the case - remains to be seen.



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Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

Mega Moolah strikes again - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

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MLS Odds: Red Bulls vs. Whitecaps - The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.

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Simon Jones is crowned the Greatest Poker Player in the Universe - A €10,000 leaderboard tracked player progress throughout the series to determine who the Greatest Poker Player in the Universe was. Professional poker player/sports psychology lecturer, Simon Jones, took the crown with a €5,000 cash bonus and trophy to prove it.

MLB Odds: Yankees Favored in AL Wild Card Game - After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.

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