Tatts Tabcorp Merger Deal Dissolves

Published Tuesday, November 17, 2015 - Online-Casinos.com
Tatts Tabcorp Merger Deal Dissolves

Online betting firms all over the world have been joining forces and becoming larger entities with mergers and acquisitions. Australian gambling firms Tabcorp and Tatts Group have been in negotiation talks about a possible merger for many months now. The companies announced recently they have been unable to find common ground during the talks of a deal.

Tatts Group is a Melbourne Australia headquartered firm active in the wagering, lotteries and gaming industries which spreads over every State and Territory in Australia, throughout New Zealand and the United Kingdom.

Tabcorp Holdings Limited is a Melbourne Australian wagering, gaming and Keno operator and is said to be one of the world’s largest publicly listed gaming companies. Tabcorp manages leading customer brands in Australia, including TAB.com.au, Luxbet, Sky Racing, Sky Sports Radio, Tabcorp Gaming Solutions (TGS), and Keno, which serve millions of customers each year.

The two companies attempt at a merger would have resulted in a gambling company worth approximately Aus$9.4 billion. The merger talks centred on a full merger of the two companies.

It was revealed that if a deal was pursued annual synergies of about $100 million were possible. The recent entry of European online gambling giants including Bet365, Ladbrokes, Paddy Power, William Hill and Unibet into the Australia gambling market has put significant pressure on a Tabcorp and Tatts.

 

A statement from Tabcorp  read, “Tabcorp confirms that while confidential discussions have taken place regarding a potential merger, the companies were unable to agree mutually acceptable terms and those discussions have ended.” “There are no further discussions taking place between the parties relating to a merger or any other form of corporate transaction.”

Tatts also confirmed that the talks had concluded: “there are no further discussions taking place between the parties relating to a nil-premium merger of equals or any other form of corporate transaction with Tabcorp”.

 

 

 

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