Statement regarding Tabcorp Holdings Limited
Updated : 10:47
5 July 2021
Entain plc
("Entain" or the "Group")
Statement regarding wagering and media business of Tabcorp Holdings Limited
Entain plc (LSE: ENT), the global sports-betting and gaming entertainment group, notes the statement made today by the Board of Tabcorp Holdings Limited ("Tabcorp") outlining its intention to pursue a demerger of its Lotteries & Keno business, which would result in two standalone ASX-listed businesses, Lotteries and KenoCo and Wagering and GamingCo.
Entain is disappointed by the decision of the Tabcorp Board, as we believe our all-cash offer would have delivered superior outcomes for shareholders, customers, employees and the wider industry. Price discipline is essential in building on the significant shareholder value that our global growth strategy will deliver for all our stakeholders and we have a healthy pipeline of opportunities.
Entain's Australian business, comprising the Ladbrokes, Neds, Betstar and Bookmaker brands, continues to build on a record year in 2020. We are confident that it will go from strength to strength as it delivers innovative and highly engaging products for its customers as well as supporting the health of the wider Australian racing industry.
Enquiries:
Investor Relations - Entain plc David Lloyd-Seed, Group Director of Investor Relations & Corporate Communications Davina Hobbs, Senior Investor Relations Manager Jennifer Spencer, Investor Relations Manager | david.lloyd-seed@entaingroup.com
|
Media - Entain plc Tessa Curtis, Head of Media Relations Jay Dossetter, Head of ESG and Press Office |
|
Media - Powerscourt Rob Greening / Elly Williamson | Tel: +44 (0) 20 7250 1446 |
About Entain plc
Entain plc (LSE: ENT) 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, Bet.pt, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, Ninja Casino, Optibet, partypoker and PartyCasino. The Group owns proprietary technology across all 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 MGM Resorts to capitalise on the sports betting and gaming opportunity in the US, through BetMGM. Entain provides the technology which powers BetMGM and exclusive games and products, specially developed at its in-house gaming studios. The Group is tax resident in the UK with licences in a total of 27 regulated markets. Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. The Group has set an SBT, committing to be carbon net zero by 2035 and through the Entain Foundation supports a variety of initiatives, focusing on safer gambling, grassroots sport, diversity in technology and community projects.
For more information see the Group's website: www.entaingroup.com
LEI: 213800GNI3K45LQR8L28
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.