Tabcorp has decided to pursue a demerger strategy with BetMakers and has announced that it intends to provide full attention at spinning off its business.
This essentially implies that all the current bids for its betting business can longer be pursued. Instead the company will divide its business into two separate ASX-listed companies.
As per Gambling Insider, BetMakers CEO, Todd Buckingham, said: “Having received clarity from Tabcorp regarding the planned direction for its wagering and media business, BetMakers will continue discussions with Tabcorp regarding international opportunities, and we believe these opportunities have the potential to be significant.
“BetMakers remains firmly of the view that the company’s opportunities in regulated wagering jurisdictions, and in particular Australia and the US, are a clear priority and we will continue to explore all opportunities that can accelerate or capitalise on this foundation.”
Though the merger proposition has been rejected, yet, the two operators wished to continue working together to explore more commercial opportunities in international markets. Betmaker stated that the plans are in harmony with the goal of becoming leading provider of B2B services to wagering operators.