Australia’s TAB (Tabcorp Holdings) is being stalked by several parties wanting to acquire its gaming assets. Any such deal could alter the shape of the country’s racing landscape and so the maneuverings are being monitored closely by the Australian Competition and Consumer Commission (ACCC).
Any deal would have to be approved by the commission. The winner from among the betting firms, private equity groups and various other businesses would need to reassure the commission that such a deal is in the interests of Australian racing, meets wagering regulations in all six Australian states and honors the company’s contracts.
None have presented a formal bid for the group.
Tabcorp recently got a new chairman, Steven Gregg, who replaced longtime Chairwoman Paula Dwyer. He is leading the search for a new CEO for the company as its current CEO David Attenborough plans to resign sometime in 2021.
The company has previously said it has no intention to break up the company.
