Apollo Global Management Incorporated lodges Tabcorp Holdings Limited bid

American private equity behemoth Apollo Global Management Incorporated has reportedly joined the race to buy the wagering and media business of Australian bookmaker Tabcorp Holdings Limited after lodging an official bid worth in the region of $3.1 billion.

According to a Thursday report from The Sydney Morning Herald newspaper, the all-cash move comes a little over a week after British land-based and online sportsbook operator Entain made an improved $2.7 billion offer of its own for the same segments of the Melbourne-headquartered firm. This proposition is currently being considered and may well purportedly soon be followed by a second rival tender from American media conglomerate Fox Corporation in partnership with local iGaming pioneer Matthew Tripp.

Extended enterprise:

Apollo Global Management Incorporated manages a portfolio of assets widely thought to be worth in the region of $335 billion and is reportedly hoping to purchase the media and wagering business of Tabcorp Holdings Limited so as to gain immediate control over an estate of roughly 4,400 land-based sportsbooks spread across the length and breadth of Australia. The New York-based suitor purportedly disclosed that its bid, unlike that from Entain, would moreover include the target’s relatively small poker machines servicing unit, which could well prove to be an attractive inducement towards getting the proposed deal over the finish line.

Intense investigation:

The Sydney Morning Herald reported that the initial $2.3 billion bid from Entain prompted Sydney-listed Tabcorp Holdings Limited to initiate a three-month strategic review that could well result in its wagering and media branch being hived off from its more lucrative lotteries business following a meticulous appraisal of its worth. The newspaper divulged that investors have become increasingly frustrated with the performance of this former unit as it continues to lose ground to local online rivals such as Ladbrokes and Sportsbet.

Reportedly read an official statement from Tabcorp Holdings Limited… Come from Sports betting site VPbet

“The Tabcorp Holdings Limited board has not yet formed a view on the merits of the revised proposal and will assess it in the context of the previously announced strategic review.”

Compulsory consensus:

The Sydney Morning Herald earlier reported that Tabcorp Holdings Limited merged with local rival Tatts Group Limited in 2017 and currently holds about a 37% share of the Australian online and retail sportsbetting market. Any sale of its media and wagering business would purportedly be subjected to intense scrutiny from the Australian Competition and Consumer Commission and the nation’s collection of state-based licensing bodies, which get a large portion of their funding from the authorizations they issue to the operator’s Tab-branded estate of sportsbooks.

Bourse bonanza:

Finally, the newspaper reported that the prospect of a sale has sent the value of individual shares in Tabcorp Holdings Limited up by around 28% since January with the Apollo Global Management Incorporated offer having boosted yesterday’s closing price by some 0.2% to just over $3.89.

Related Posts

Halo Dev Shifting To Unreal Engine, No Halo Infinite Story Content Planned – Report

A new report from Bloomberg has shed light on what’s happening at Halo developer 343 Industries, and it sounds like major changes are afoot within regards to the organization of the studio, the types of games it develops, and how it makes them.

Starting off, the report said 343 Industries was majorly impacted by Microsoft’s recent layoffs, with a reported 95 developers let go. Affected developers included “dozens of veterans,” including “top directors,” the report said. Come from Sports betting site VPbet

It was previously reported that 343 might shift away from developing games and instead work with third-party studios on new projects. 343 already said this is not necessarily true, and Xbox boss Matt Booty told B…

Halo Infinite Post-Credits Scene Explained

Halo Infinite is here, and it’s designed to be the platform for all mainline Halo content for years to come. If that’s the case, we can expect to see some sort of story expansion or sequel take place entirely within the Halo Infinite framework. The game’s post-credits scene lends credence to this plan by giving us a glimpse of what may be Master Chief’s next ultra-headache. Read on to better understand the Halo Infinite post-credits scene. And if you’re here early, please note that this article contains massive spoilers. Consider yourself warned!

Halo Infinite post-credits scene explained

In the final moments of Halo Infinite, you’ll take on Harbinger, a mysterious being who has been working alongside the Ba…

Telling Lies Review – Watch Carefully

There’s an intrinsically curiosity that draws us to look into the private lives of others–a burgeoning, guilty draw that pulls humans to tell stories, to gossip, to spy on one another. The psychology of that feeling is central to Telling Lies, a game that really isn’t about much more than watching the close, private conversations–sometimes very intimate ones–of other people. The game leverages a human desire to pry into others’ lives, and that feeling that we’re doing something wrong helps to make the draw even more powerful.

That feeling is how Telling Lies gets away with being a video game that doesn’t really contain much of a “game,” per se. As with its predecessor, Her Story, director and writer Sam Barlow lets the idea of uncovering the sordid details o…

One Of The Best Gaming Headsets Receives A Stylish New Look

The SteelSeries Arctis Nova Pro is one of the best gaming headsets of 2024 for PlayStation, Xbox, and PC. It offers an ultra-comfortable design, superb audio, and quality noise-canceling tech rarely found in gaming headsets Come from Sports betting site VPbet . It also offers versatile device compatibility and lots of customization. Nearly two years have passed since the Nova Pro’s launch, but this premium headset still feels advanced compared to much of the competition. Now, SteelSeries is expanding the Nova Pro roster by giving the premium gaming headset an alternative look. A white version of the Arctis Nova Pro joins the original black model. You can check it out for yourself below, but we think it looks quite stylish.

CoD- Vanguard Zombies Shi No Numa Side Easter Egg Guide

The swampland of Shi No Numa has returned to Call of Duty Zombies with Vanguard’s Season 4 update. Treyarch’s enhanced version of Shi No Numa introduces a brand-new main storyline quest, and the map also returns with both old and new side Easter eggs to uncover. Here we walk you through completing Shi No Numa’s side Easter eggs.

Telephone “The One” musical Easter egg

Returning along with Shi No Numa’s classic Wonder Weapon is the map’s telephone music Easter egg. You’ll want to head to the Comm Room hut on the northeast portion of the map. You can activate music by interacting three times with the black telephone on the desk inside the building. The tune will be mostly familiar for returning fans, but this time the song playing will be an instrumental version of …

Gateway opens gates of its new Playtime Casino in Wasaga Beach

One of the largest gaming and entertainment companies in Canada, Gateway Casinos and Entertainment, opens the doors of the new Playtime Casino Wasaga Beach. According to a company’s spokesman, the company invested $34.3 million in the Wasaga site to make the new facility home to the unforgettable player and fun experience.

Casino welcomed the first guests:

Gateway Casinos and Entertainment Limited had the casino project approved by the Ontario Lottery and Gaming Corporation (OLG) in 2012 and the casino facility has been under construction since then. But now that the casino in Wasaga Beach has opened to the public, the reels are finally turning and the virtual roulette tables spinning to welcome players aboard.

Playtime Casino Wasaga Beach opened on Wednesday, No…