Entain PLC Tabcorp update (6937W)
April 27 2021 - 1:00AM
UK Regulatory
TIDMENT
RNS Number : 6937W
Entain PLC
27 April 2021
FOR IMMEDIATE RELEASE
Entain plc ("the Company")
The Board of Entain notes the announcement by Tabcorp Holdings
Limited ("Tabcorp") and confirms that it has made a revised offer
of A$3.5 billion (the "Revised Proposal") to the Board of Tabcorp
to acquire its Wagering and Media business (the "Proposed
Transaction"). Entain believes that the Revised Proposal is
compelling both in terms of the value it represents for Tabcorp
shareholders in cash, and certainty of deliverability.
The Proposed Transaction would be in-line with Entain's current
M&A strategy, and presents an opportunity to acquire an
attractive business, which when combined with Entain's existing
Australian business, would create a leading, integrated
multi-channel and multi-brand wagering company.
A further announcement will be made as appropriate.
Contact Details
Entain plc
David Lloyd-Seed
Group Director of Investor Relations & Corporate
Communications
Tel: +44 (0) 203 938 0000
investors@entaingroup.com
Macquarie (Financial Advisor to Entain)
Tim Joyce
Edward Burley
Tel: +61 3 9635 8000
Morgan Stanley (Financial Advisor and Corporate Broker to
Entain)
Laurence Hopkins
Tom Perry
Richard Brown
Tel: +44 (0) 20 7425 8000
LEI: 213800GNI3K45LQR8L28
About Entain plc
Entain plc (LSE: ENT) is a FTSE100 company and is one of the
world's largest sports-betting and gaming groups, operating both
online and in the retail sector. The Group owns a comprehensive
portfolio of established brands; Sports Brands include bwin,
Bet.pt, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and
Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala,
Gioco Digitale, Ninja Casino, Optibet, partypoker and PartyCasino.
The Group owns proprietary technology across all its core product
verticals and in addition to its B2C operations provides services
to a number of third-party customers on a B2B basis. The Group has
also entered into a joint-venture with MGM Resorts to capitalise on
the sports betting and gaming opportunity in the US, through
BetMGM. Entain provides the technology which powers BetMGM and
exclusive games and products, specially developed at its in-house
gaming studios. The Group is tax resident in the UK with licenses
in a total of 27 regulated markets. Entain is a leader in ESG, a
member of FTSE4Good, the DJSI and is AA rated by MSCI. The Group
has set an SBT, committing to be carbon net zero by 2035 and
through the Entain Foundation supports a variety of initiatives,
focusing on safer gambling, grassroots sport, diversity in
technology and community projects.
For more information see the Group's website:
www.entaingroup.com
Important information
This announcement is not intended to and does not constitute an
offer to buy or the solicitation of an offer to subscribe for or
sell or an invitation to purchase or subscribe for any securities
or the solicitation of any vote in any jurisdiction. The release,
publication or distribution of this announcement in whole or in
part, directly or indirectly, in, into or from certain
jurisdictions may be restricted by law and therefore persons in
such jurisdictions should inform themselves about and observe such
restrictions.
This document contains certain statements that are
forward-looking statements. They appear in a number of places
throughout this document and include statements regarding our
intentions, beliefs or current expectations and those of our
officers, directors and employees concerning, amongst other things,
results of our operations, financial condition, liquidity,
prospects, growth, strategies and the business we operate. These
forward-looking statements include all matters that are not
historical facts. By their nature, these statements involve risks
and uncertainties since future events and circumstances can cause
results and developments to differ materially from those
anticipated. Any such forward-looking statements reflect knowledge
and information available at the date of preparation of this
document. Other than in accordance with its legal or regulatory
obligations (including under the Market Abuse Regulation
(596/2014), the Listing Rules, the Disclosure Guidance and
Transparency Rules and the Prospectus Rules), the Company
undertakes no obligation to update or revise any such
forward-looking statements. Nothing in this document should be
construed as a profit forecast. The Company and its directors
accept no liability to third parties in respect of this document
save as would arise under English law.
Macquarie Capital (Australia) Limited ("Macquarie Capital") is
acting as financial advisor to Entain and no one else in connection
with the matters set out in this announcement. In connection with
such matters, Macquarie Capital, its affiliates and their
respective directors, officers, employees and agents will not
regard any other person as their client, nor will they be
responsible to any other person for providing the protections
afforded to their clients or for providing advice in relation to
the contents of this announcement or any other matter referred to
herein.
Morgan Stanley & Co. International plc ("Morgan Stanley")
which is authorised by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the UK is acting as financial advisor and
corporate broker exclusively for Entain and no one else in
connection with the matters set out in this announcement. In
connection with such matters, Morgan Stanley, its affiliates and
their respective directors, officers, employees and agents will not
regard any other person as their client, nor will they be
responsible to any other person for providing the protections
afforded to their clients or for providing advice in relation to
the contents of this announcement or any other matter referred to
herein.
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END
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