London-listed betting giant Entain will pitch itself to the broader racing industry as a long-term wagering operator that can use its global scale and digital expertise to boost participation in the sport and grow revenue streams.

The $13 billion group confirmed in London on Tuesday night that it had lodged a proposal to buy Tabcorp’s wagering and media division. It is one of two offers in front of the Tabcorp board, with the other believed to be from a private equity firm.