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Tabcorp - Racing Talk - Racehorse TALK

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Offline PoisonPen7

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« 2020-Aug-09, 11:43 AM Reply #1900 »
PP7, re your post on the senior management on the 3rd of August ,you are spot on. I doubt any of the senior management could relate to $2.50 is 40% or $16.00 is 6.25% or that in the old 5/2 was 28.5% of a betting market, let alone 13/8 .
I reckon none of them have never been punters in the past or are presently punters, except when they are in Tabcorp's corporate tent on big racedays.

The Board cannot make informed decisions if it does not contain people who have some intimate knowledge of the core business.

If the answer to that question was "The Board doesn't need to have knowledge of the core business because it delegates" then why have a Board in the first place?

The replacements for Paula Dwyer (Chairman) and David Attenborough (CEO) are part of a "global search" - smart arsed PR speak for "we haven't got a clue" - another annoying thing about corporates like this.

Dwyer has been on the Board since 2005. She is stepping down as Chairman but as far as I can see will still be on the Board (along with all the other companies she is on the Boards of like the "hugely" successful ANZ).

I think the share price chart since 2005 describes her contribution perfectly.




Offline Peter Mair

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« 2020-Aug-10, 09:30 AM Reply #1901 »


Gambling giant Tabcorp -- real pressure still to come

Gambling giant Tabcorp is shaking up the management of its under-pressure wagering business, after writing down the division by $1 billion and announcing the departure of the company's chief executive and chairman.

Imagine what would happen if racing administrators were required to run racing fairly.

One would be astounded if Tabcorp is not making 'heaps' now on its fixed-odds betting business.

Inflated fields have made a mockery of form guides, especially in Melbourne.  On many races Tabcorp would have a skinner, copping the lot of punters bets after not paying out any 'wins' of substance on rough results.

The other corporates can hardly believe their luck with the coming of  inflated-field racing coupled with 'loser-only' customer filters to exclude those in the know.

If Tabcorp cannot make a quid now the prospects are bleak -- unless they are planning 'initiatives' even more detrimental to most of their customers.

..................... I have a dream........... Tabcorp tells punter-milking administrators 'all bets are off' ....... demands that administrators offer a 'fair-racing' product ............. becomes the punters' hero

Offline Peter Mair

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« 2020-Aug-23, 08:32 PM Reply #1902 »


In god's name


 .... is no one taking seriously the 'jfc' contention that Tabcorp is now taking 20% (not 16% max) from TAB pools?

Offline PoisonPen7

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« 2020-Aug-24, 09:47 AM Reply #1903 »
They are betting on Mexican greyhounds this morning. How long has that been going on   :lol:

The numbers in Race 8 were 4-1-3 : those are the colours of the Mexican flag  :bulb:

Offline Peter Mair

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« 2020-Aug-24, 06:29 PM Reply #1904 »


.... PP has been doing the form again

Offline wily ole dog

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« 2020-Aug-24, 07:59 PM Reply #1905 »
You should learn from him

Offline PoisonPen7

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« 2020-Nov-06, 03:11 PM Reply #1906 »
Private equity and Matthew Tripp circle Tabcorp in potential break-up deal for wagering giant

Big private equity firms are circling Tabcorp and are poised to make a bid for the embattled wagering company in a deal that would see renowned digital betting pioneer Matthew Tripp emerge as the boss of the TAB wagering arm.

Mr Tripp, the former boss of BetEasy, had previously been in a joint venture between Crown Resorts and his CrownBet business, and also built up the No 1 digital wagering business in Australia, Sportsbet, from a $250,000 operation in 2005 before selling it for $388m in a deal finalised in 2011.

He is understood to have been approached by two private equity consortiums in recent weeks. One is keen to bid for the entire Tabcorp business currently worth about $7.7bn, The Australian has been told by sources familiar with the plans. With a premium to the current share price the bid may be worth $9bn.

The other group is interested in just the TAB wagering business, potentially valuing the unit at up to $3bn.

One source said the parties involved included a private equity firm “that does not get any bigger in the world”, suggesting it may involve a giant such as KKR or TPG.

A KKR-backed group, the Pacific Consortium, which included Macquarie Group, made an unsuccessful $6bn bid for Tatts Group before the lotteries outfit merged with Tabcorp four years ago.

Other potential parties involved this time include wealthy Australian families and individuals, infrastructure and superannuation funds. Sources with know­ledge of the potential deals have told The Australian that the group wanting to buy the entire Tabcorp business is attracted to its strongly performing lotteries arm and that Mr Tripp is the best digital betting executive in Australia for turning around Tabcorp’s struggling wagering arm.

That private equity group is said to be more advanced in its plans for a tilt at Tabcorp, and is reported to have been working on the transaction for several months and to have held some informal meetings with Tabcorp executives or representatives.

One source said the parameters of the deal had been closely considered by the group’s investment committee and should a formal tilt eventuate, a bid would be launched by Christmas.

Mr Tripp would not answer questions about the plans when contacted by The Australian. Tabcorp also would not comment. Tabcorp previously said its gaming services division was under review, meaning it could be sold.


https://www.theaustralian.com.au/business/companies/private-equity-and-matthew-tripp-circle-tabcorp-in-potential-breakup-deal-for-wagering-giant/

Offline fours

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« 2020-Nov-06, 03:44 PM Reply #1907 »
Hmmmm,

I'd say Packer is looking for a home for his funds given the exile likely in the near future from Crown.

Fours

Offline Peter Mair

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« 2021-Jan-04, 08:16 PM Reply #1908 »


...... the murdoch tentacles reach out

A tantalizing post on Racenet today .....

https://www.heraldsun.com.au/truecrimeaustralia/police-courts/melbourne-cup-winning-trainers-launch-legal-action-against-banned-vet-tom-brennan/news-story/281b4ba23e6b582758a6ca10eb1ce6c7

................. yields a link to an inaccessible  'subscriber only' story in the Herald Sun.

This is unacceptable, 'links' on Racenet should reveal he story ........ not an invitation to subscribe.






Online jfc

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« 2021-Feb-02, 06:36 PM Reply #1909 »
Some vague ASX announcement from Tabcorp about bids for its wagering and media business.

Hopefully anyone who finds more informative information will clue us in.

Without any analysis my bet is TAH would be far more attractive once its ailing wagering arm is amputated..

Offline Peter Mair

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« 2021-Feb-02, 07:29 PM Reply #1910 »


..........whatever will unfold .............. any hint of newscorpse extending its control should be jumped on.

Online jfc

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Offline Peter Mair

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« 2021-Mar-18, 07:05 AM Reply #1912 »

THE ACCC SHOULD ADDRESS THIS THREAT OF ENHANCED MONOPOLIZATION

                                                                                                       ........ from the smh this morning:

Fox circles Tabcorp for takeover bid

The Murdoch family’s US media business Fox Corporation has been working with other investors on a potential bid for parts of ASXlisted gaming operator Tabcorp. The Los Angeles-based company, which is run by billionaire media scion Lachlan Murdoch, has also registered a trademark for its betting arm FOXBet in Australia, in a sign the company is considering an assault on the local wagering industry.


Will the circle become unbroken?

Offline PoisonPen7

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« 2021-Mar-19, 09:07 PM Reply #1913 »
TrippCo hires Goldman Sachs for Tabcorp’s wagering

While Tabcorp takes its time reviewing strategic options for its ugly duckling wagering and media business, there’s plenty of behind-the-scenes scheming by potential acquirers.

The contenders seem to be working off the same M&A playbook: assume Tabcorp announces a demerger, and then engage with the company and its bankers at UBS to try to snatch the business.

If you listened to racing types, the short priced favourite is bookie Matthew Tripp, who has had plenty of success taking on Tabcorp’s wagering business over the years and has been waiting for his chance to take the reins.

Tripp’s got some big backers, including the Murdochs who are looking for an entry into Australia’s $4.7 billion a year betting market, and financial investor types, and the goodwill of the racing industry.

It is understood the consortium has also mandated Goldman Sachs for advice – the same investment banking giant that has done plenty of work for the Murdochs/News Corp/Fox over the years. It has Goldman Sachs bankers in Sydney and Melbourne keeping their ears to the ground.

Of course the other known contenders for Tabcorp’s $3 billion-odd wagering and media business include the UK’s Entain, which owns Ladbrokes and has Macquarie Capital and Morgan Stanley on board for advice, and Jefferies-advised rival Apollo Global Management.

Tabcorp’s wagering and media unit reported $1.19 billion revenue in the six months to December 31 and $227 million EBITDA. Both numbers were materially consistent with the prior year.


https://www.afr.com/street-talk/trippco-hires-goldman-sachs-for-tabcorp-s-wagering-20210317-p57beo

Offline gunbower

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« 2021-Mar-19, 09:57 PM Reply #1914 »
Quite funny PP how everyone is trumpeting this " short priced favourite " whose Family made their fortune by operating outside the laws of this land to assume control of something which was originally funded by us  : the taxpayers of tis Country. Total nonsense.

Offline PoisonPen7

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« 2021-Mar-19, 10:29 PM Reply #1915 »
Quite funny PP how everyone is trumpeting this " short priced favourite " whose Family made their fortune by operating outside the laws of this land to assume control of something which was originally funded by us  : the taxpayers of tis Country. Total nonsense.

I never believed in floating the TABs. Or the CBA or Telstra for that matter.

Offline Arsenal

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« 2021-Apr-28, 09:16 PM Reply #1916 »
TAKEOVERS
JOHN STENSHOLT
Wagering unit demerger likely
TABCORP will likely deny potential suitor Entain any access to due diligence even after receiving an increased $3.5bn bid for its wagering and media arm, in the belief that a demerger of the division will provide better value to shareholders.
The belief among Tabcorp directors that a demerger of the wagering unit is a far easier and potentially more lucrative transaction to undertake is likely to hold until a strategic review is finalised towards the end of June, unless Entain or other bidders return with a higher offer. London-listed Entain said on Tuesday that its revised $3.5bn bid for Tabcorp’s wagering division “represents compelling value and certainty”, but Tabcorp remained unmoved.
In a statement, Tabcorp said its board “had not yet formed a view on the merits of the revised proposal” and would assess it in the context of a previously announced strategic review.
Tabcorp shares rose 4.2 per cent to $5 on Tuesday.
Tabcorp said the new bid “continues to be subject to numerous conditions” including due diligence, arranging financing, regulatory approvals including the corporate regulator and the Foreign Investment Review Board and other third-party approvals.
Sources indicated that the $3.5bn offer was still not high enough to satisfy the Tabcorp board, and that Tabcorp’s directors were concerned that an offer from an outside bidder would be subject to a long probity process without a guarantee of being successful.
A more simple demerger, where Tabcorp investors received shares in a newlyformed entity, would have a higher chance of success, though a bid of $4bn may sway the Tabcorp board.
Entain, the owner of the Ladbrokes and Neds brands in Australia, insisted though that its $3.5bn offer should be taken seriously by the Tabcorp board. “As an established wagering operator in Australia with a proven record of supporting the Australian racing industry, we believe Entain is a strong strategic fit for Tabcorp’s wagering and media business,” an Entain spokesman said.
Evans and Partners Sacha Krien said that he believed the Entain offer “should be enough to get Entain in the door for due diligence” and that he valued the wagering business at $3.4bn.
“The fact Tabcorp has released details of the bid this time suggests it will be seriously considered. We also believe major shareholders will support a wagering sale at these levels,” Mr Krien said in a note to clients.
Rohan Sundram from MST Marquee said he “would be surprised if Tabcorp were sellers at these levels” though said Entain should be granted due diligence.
“(But) we continue to believe that a demerger is becoming a more realistic outcome,” he said.

Giddy Up :beer:



Offline PuntersParadise

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« 2021-May-03, 11:54 AM Reply #1917 »
.
« Last Edit: 2021-May-03, 02:52 PM by sobig »

Offline fours

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« 2021-May-03, 12:05 PM Reply #1918 »
SPAM

Doing the same post repeatedly qualfies this as such.

You just joining says the same...

Fours

Offline bascoe

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« 2021-Jun-08, 04:02 PM Reply #1919 »
Has anyone noticed that past results since June 1 the TAB site under Previous Results no longer has Fixed Odds in the results?

bascoe

Offline fours

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« 2021-Jun-08, 05:56 PM Reply #1920 »
bascoe,

Seem to be different every other week!

Fours


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