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Tabcorp talks up wagering business but coy on takeover details

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Key Points

  • Revenue ($m) 2870 down 1.5pc from year-earlier 2914
  • EBITDA ($m) 598 v 569
  • Net profit ($m) 185 v 199 
  • Interim dividend 7.5c v 11c, payable on March 17 

Tabcorp says it isn’t surprised by the interest in its wagering business, but refused to detail the two offers on the table at its half-yearly results on Wednesday, which sparked the share price to drop 1.24 per cent to $4.40.

Chief executive David Attenborough said proposals to take over the wagering business were highly conditional and confidential, despite credit and private equity giant Apollo Global Management and London-listed Entain revealing themselves as suitors this month.

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Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office. Connect with Elouise on Twitter. Email Elouise at elouise.fowler@afr.com.au

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    Original URL: https://www.afr.com/companies/games-and-wagering/tabcorp-revenue-drops-takeover-approaches-conditional-20210217-p5737m