Entain emerged as one of the interested parties in the acquisition of Tabcorp’s division in Australia. There were no firm bids at the time, but Entain’s revised proposal is deemed compelling, offering value in cash and a high certainty of successful execution. This potential transaction aligns with Entain’s current strategic focus on mergers and acquisitions, and it presents an exciting opportunity to acquire an attractive business. Combining this business with Entain’s existing operations in Australia would create a leading multi-channel and multi-brand wagering company.
Earlier this month, Entain demonstrated its commitment to its M&A strategy in regulated markets by completing deals to acquire Enlabs AB and Bet.pt. In Tabcorp’s 2019-20 financial year, their wagering and media business generated AUD$2.08 billion in revenue with an EBITDA of $371 million. Entain already operates the Neds and Ladbrokes brands in Australia, having acquired Neds in 2018.
