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TATTS - TABCORP MERGER
Friday, April 22, 2016 : TATTS - TABCORP MERGER ON THE BACKBURNER FOR NOW (Update)
A$9 billion merger held up by competing bids for Western Australia’s TAB network.
Robbie Cooke, chief executive of the Australian Tabcorp group, has confirmed the accuracy of an advisory sent by Tatts Group to shareholders that a A$9 billion merger with Tabcorp is currently on ice.
The Tatts advisory explained that both companies are bidding in the A$1 billion sale of the Western Australian government's TAB network, the last of its kind in Australia to be privatised.
Cooke revealed that there was a degree of uncertainty regarding the reaction of the Australian Competition and Consumer Commission regarding a merged bid, and this had exerted some influence on events.
However, InfoPowa readers will recall that the mammoth deal was also shelved late last year, reportedly over disagreements regarding valuations.
Tabcorp bought up previous TABs sold off by provincial governments.
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Opap in memorandum of understanding With Inspired -
Virtual sports provider Inspired has entered into a memorandum of understanding (MOU) with Greek betting and lottery operator OPAP for the supply of its full suite of virtual sports, for integration online and across OPAP's retail network.
DeltaCorp To Acquire ace2three -
Our readers will recall Delta Corp. acquired a 26 percent stake in Gaussian Networks, parent company of India’s largest online poker operator Adda52 earlier this month
More Australian POC Taxes -
In an interview with The Australian, Tabcorp chief executive offer David Attenborough warned “global rivals” of his belief that other Australian states are moving fast to follow South Australia’s lead in implementing a point of consumption tax.
William Hill Exits Russia -
"Starting from September 23 William Hill Casino Club will terminate its activities in the Russian territory for legislatory reasons. All active customer accounts will be suspended," the advisory reportedly detailed.
Pennsylvania Online Gambling Hearing Postponed till October -
HR 2150, which includes DFS and e-gaming elements, was passed as part of the critical state budget bill by the House in June this year, with lawmakers expecting the bill to contribute $100 million annually in licensing and fees to help balance the state budget.
Two Mega Fortune Dreams Jackpots Hit -
Both Swedish players, the first lucky punter hit a GBP 100,000 jackpot playing on his mobile phone, while the second, identified as Martin, staked just 18p before netting a GBP 60,000 jackpot on the popular series thinking he was playing in demo-mode.
ASA Looking at Ladbrokes and Netbet ads -
A TV ad for Cosmo Gaming’s NetBet online casino was determined by the UK Advertising Standards Authority (ASA) as glamorising online gambling following a single complaint.
Betconstruct In Deal With Realistic Games -
BetConstruct has agreed a deal in which it will integrate a range of Realistic Games online table and slot content including blackjack, roulette and slot titles Super Graphics Upside Down, The Fruit Factory and Fireworks.
XLMedia Half 1 2016 Earnings Report -
Online gambling marketing company XLMedia, which operates websites driving players to online casino operators, delivered robust interim results for the first half of 2016, attributing its success to investment in technology.
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