Tabcorp looks to BetMakers after lotteries demerger

Business News

Tabcorp Holdings has decided it will pursue a demerger strategy for its business. As a result of the engagement with Tabcorp to date, and instead of the Company progressing its previously announced (May 28, 2021) Indicative Proposal, BetMakers and Tabcorp will continue discussions in relation to commercial opportunities in international markets.

These discussions are consistent with BetMakers’ plans to be the leading provider of B2B services to wagering operators around the world. The Company’s international growth plans have accelerated in recent weeks following the respective announcements of Fixed Odds progress through the New Jersey legislature and completion of the acquisition of Sportech’s international tote and digital racing assets.

BetMakers Chief Executive Officer Todd Buckingham said: “Having received clarity from Tabcorp regarding the planned direction for its Wagering and Media business, BetMakers will continue discussions with Tabcorp regarding international opportunities, and we believe these opportunities have the potential to be significant.

“BetMakers remains firmly of the view that the Company’s opportunities in regulated wagering jurisdictions, and in particular Australia and the United States, are a clear priority and we will continue to explore all opportunities that can accelerate or capitalise on this foundation.”

In relation to recent developments in the United States and the Company’s international opportunities, the Company would like to reaffirm its recent announcements:

Fixed Odds Bill has now progressed through both the New Jersey Senate and General Assembly and has be sent to NJ Governor for approval.

BetMakers has an exclusive 10-year Fixed Odds agreement on thoroughbred horse racing in New Jersey.

BetMakers’ Managed Trading Services division will manage Fixed Odds betting at Monmouth Park racecourse, at Off Track Betting shops and on digital platforms within New Jersey for Monmouth Park.