BetMakers offer $4b for Tabcorp’s wagering business
BetMakers Technology Group has entered a bidding war for Tabcorp Holdings wagering business, offering $4 billion for the division.
Tabcorp had earlier received bids from British sports betting firm Entain Apollo Management for the business, as it was hit by coronavirus-induced closures of betting shops and cancellation of sporting events.
Tabcorp said in a statement it would assess the BetMakers’ offer in the context of a strategic review announced in March.
In April, Entain had sweetened an earlier bid to buy up the wagering and media business for A$3.5 billion ($2.7 billion).