Assuming $1.60 BET SP & 15% premium.
Shares SP MC 1 BET 812257401 1.6 $1,299,611,841.60 2 3 TAB 1630434783 1.84 $3,000,000,000.00 4 5 Combined 2442692184 2.17 $5,299,611,841.60
When the combined entity is acquired by SPAC for Nasdaq listing may be a 50% premium = $8B AUD or $6.18M USD. Will be very cheap compared to FanDuel that is expected to IPO for USD $30B with $800M revenue & -$148M EBITDA. FanDuel valued at x37.5 TTM revenue. The combined BET/TAB entity will have $2.4B revenue & $454M EBITDA. Should be valued higher than FanDuel.
Assume $8B AUD Nasdaq listing = $3.28 SP. They will then aim to grow it to $50B AUD within a few years = $20.50 SP.
Matt Davey has mentioned the Tekkorp SPAC was set up for an acquisition larger than a few billion USD & wants it finalized within 2 years. The SPAC currently has funding for an acquisition up to USD $2B but can easily access more funds for something larger.
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