Tabcorp (ASX:TAH) share price falls as demerger speculation continues
Marc Sidarous | March 12, 2021 5:00pm |
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Tabcorp Holdings Limited(ASX: TAH) shares edged lower today as rumours continue circulating about a potential demerger. By the market’s close, the Tabcorp share price finished the day trading 0.22% lower at $4.60. In contrast, the
Tabcorp might take a punt on a successful demerger
The Australianreported yesterday that Tabcorp will be moving forward with a strategic review to assess a demerger of its wagering and media unit from its lotteries arm. Speculation of the move has been rife for at least a month. The newspaper claims as many as three bidders are keen to make a deal.
The Tabcorp (ASX:TAH) share price wobbles on results
Nikhil Gangaram | February 17, 2021 11:00am |
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Tabcorp Holdings Limited(ASX: TAH) share price is wobbling in early trading today after dipping almost 2% at the open. This follows the company’s release of results for the first half of FY21.
At the time of writing, the Tabcorp share price is trading down 0.11% at $4.46.
How did Tabcorp perform?
For the half-year ending 31 December 2020, Tabcorp reported a 7% decline in net profit of $185 million. The gaming and entertainment services provider also saw revenue fall 2% to $2.87 billion.
Overall, Tabcorp’s group revenue declined 1.5% for the first half, while earnings before interest, tax, depreciation and amortisation (EBITDA) also came in lower, down 6.2% compared to the prior corresponding period.
Information on Entain Entain plc (LSE: Entain) is a FTSE100 company and is one of the world s largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, partypoker and PartyCasino. The Group owns proprietary technology across all of its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. The Group has also entered into a joint-venture with MGMRI to capitalise on the sports-betting and gaming opportunity in the US. The Group is tax resident in the UK with licenses in more than 20 countries, across five continents.
February 2, 2021
Fresh from rebuffing a $11.1 billion takeover offer from MGM Resorts International and prominent land-based and online sportsbook operator Entain is now reportedly attempting to buy a significant portion of Australian sportsbetting giant Tabcorp Holdings Limited for an undisclosed amount.
According to a report from the Bloomberg news service, the London-listed firm behind the United Kingdom’s Ladbokes and Coral-branded estate of land-based bookmakers recently made a non-binding offer for the wagering and media division of its Melbourne-headquartered counterpart so as to give it extra scale in the region.
Domestic dominance:
The news service reported that
wagering and media is the second most lucrative branch of Tabcorp Holdings Limited’s overall operation after generating 40% of its revenues for the year to the end of June at approximately