Entain Ups Offer For Tabcorp

Tabcorp the Australian gaming operator has stated to the Australian Stock Exchange that it has received an improved offer from Entain for their business.

Entain the UK based gambling firm behind Ladbrokes and Coral have according to Tabcorp offered AU3.5 billion or £1.95 billion. That is up from the original offer of £1.68 billion.

Earlier this year Tabcorp turned down the initial offer saying that it did not reflect adequately the value of the business.

The Australian company said it has yet to review fully the new offer and the board will consider the new valuation from Entain.

Entain said: “This would present an opportunity to acquire an attractive business which, if combined with Entain’s existing Australian business, would create a leading, integrated multi-channel and multi-brand wagering company.”