Entain stock surges on takeover rumors
There have been recent reports suggesting large private equity companies are considering purchasing all or a portion of Entain.Entain's stock price has increased by five...
Tabcorp and Entain go to court over NSW hotel contract
Tabcorp has sued Entain over its recent deal with the NSW Australian Hotel Association.
The suit was initiated on Monday the 21st in the Supreme Court of the Australian New South Wales state as a civil dispute. According to reports, Tabcorp is suing Entain for not disclosing enough information about its contract with the AHA, as they are required because of Tabcorp’s government-brokered monopoly that is going to stay in effect for about another decade.
Entain’s contract with the AHA involved advertising of its online betting brands and applications in the retail wagering establishments in hotels, as due to Tabcorp’s license it would not be able to install its own wagering terminals anywhere in the state.
This was originally done to somewhat reinstate competition in the state’s retail betting market, as according to the chief executive of AHA’s NSW division, John Whelan, a large number of operators of PubTABs are doing so at a loss.
In their suit Tabcorp requested a greater degree of clarity for the advertisements involved with the Entain-AHA deal, as it was concerned that the contract could be in breach of the Australian Unlawful Gambling Act.
Sales for Tabcorp dropped by 5% in the first half of 2024
Sales for Tabcorp dropped by five percent in the first half of 2024. Here are some highlights from their trading update report:
FinancialsTabcorp reported a Group...
