Two of Australia’s biggest listed gambling businesses, Tabcorp and Tatts, have agreed to merge and create an $11.3 billion giant which will control more than 90 per cent of Australia’s totalisator betting and generate revenues in excess of $5 billion.
The companies’ combined market capitalisation will be around $8.6 billion.
Boards of both companies unanimously agreed to the scrip and cash deal which will effectively give Tabcorp control of the merged business.
However, the deal still needs approval from the Australian Competition and Consumer Commission which has expressed reservations in the past, including blocking a similar proposal in 2006.
The rapid growth of online betting and the influx of offshore gambling operations is one factor that has changed since the original merger plan was scuttled a decade ago.
Full Content: Fortune
Want more news? Subscribe to CPI’s free daily newsletterr for more headlines and updates on antitrust developments around the world.
Featured News
Dollar Tree to Sell Family Dollar for $1 Billion, Ending Struggling Merger
Mar 26, 2025 by
CPI
Meta Platforms Defends Use of Authors’ Works in AI Training in US Court
Mar 26, 2025 by
CPI
EU Pressed Meta to Address Antitrust Concerns Over Facebook Marketplace
Mar 26, 2025 by
CPI
UBS, Nomura, and UniCredit Fail to Overturn EU Antitrust Fines in Bond Trading Cartel Case
Mar 26, 2025 by
CPI
Coca-Cola Among Firms Targeted in EU Antitrust Raids
Mar 26, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Mobile Ecosystems
Mar 24, 2025 by
CPI
Mobile Ecosystems: An Intellectual Entelechy but A Necessary Model
Mar 24, 2025 by
Alba Ribera Martinez
Creating Contestability and Fairness in Mobile Ecosystems: The Contribution of the DMA
Mar 24, 2025 by
Damien Geradin & Daniel Mandrescu
Digital Ecosystems and the Not (Yet) As Efficient Competitor Principle
Mar 24, 2025 by
Thomas Hoppner & Philipp Westerhoff
Assessing the Competition Law Scrutiny of Smart Wearables and Mobile AR/VR Devices
Mar 24, 2025 by
Kayvan Hazemi-Jebelli