I reckon management have done the best they can in the...

I reckon management have done the best they can in the situation. At least they are meeting their continuos disclosure requirements and informing shareholders of the process.
I imagine they do not want to disclose any reasoning for the initial knock back of the approval as a) it would be commercially sensitive (re: TABcorp) and b) Why? Only Topbetta and Ladbrokes are able to affect what happens in the re-submission.

Setbacks with licensing are unavoidable and have happened before (as mentioned above) so no knock on management in my book. They will negotiate it the best they can and then the sweet, sweet turnover from Ladbrokes will start flowing through the pools.

Good day for buying today IMO, and if you look at the historical set-back announcements and the huge runs the SP goes on after they get the approvals.