Ann: BetMakers submits proposal to acquire Tabcorp assets, page-95

Well i had a change of mind just before market open.
I sold at $1.50, read into this more then the 20 minutes management allowed.

The only way BET recovers the $4000 million dollar outlay is by diluting the shareholder after the move with a consolidation.
The wagering business isn't yet profitable either and the $100 million cash will be used for the development on the TAB side and overseas development.

I can see a CR in 18 months time, and a consolidation or reverse split in 6 months time. I been invovled in many coanoldiaitons before and reverse splits and they always end up with the shareholder been the ball carrier acting as the front row taking the hits.
Shareholder lose here IMO only.

I could be wrong, but appears market has a similar sentiment.
I also think 20 minutes to make a decision on this with a halt was a pretty dog act.

Hesitation creates negativity hence the sell off and sentiment change.

I'm out for now, if you are holding, I wish you the absolute best and hope your kill it, you deserve it!