Share
1,210 Posts.
lightbulb Created with Sketch. 32
clock Created with Sketch. 10/10/22
20:13
Share
Originally posted by jmh04:
↑
Entain, Betr and Tabcorp would not comment about the outcome of the bidding process, while a WA government spokesman said the state would not comment ahead of any official confirmation of the winning bid.READ MORE:Tabcorp in $33m Dabble deal|$56m payday: Reclusive rich lister strikes gold with Cotton OnWashington H. Soul Pattinson, the ASX-listed group with $10bn in investments, is poised to join the Betr consortium should the winning bid be confirmed.Sources familiar with the transaction have previously indicated that Betr executives have been working on convincing Seven West Media to join the bid.WSHP is one of the oldest companies on the ASX and holds large stakes in a range of listed companies such as Brickworks and TPG Telecom, as well as a portfolio of blue-chip stocks. The firm also has more than $650m invested in its own private equity holdings, including electrical engineering company Ampcontrol, Ironbark Asset Management and agriculture and water assets.The Betr investment would probably sit in the Soul Patts private equity portfolio that in June accounted for about 7 per cent of the group’s total assets.New & improved business newsletter.Get the edge with AM and PM briefings, plus breaking news alerts in your inbox.Sign upMr Menz, who worked with Mr Tripp at CrownBet before that business was taken over in a global deal between The Stars Group and Flutter Entertainment in 2019, said at the weekend that Betr would target a younger demographicthan its competitors.“To be in front of that younger, more dynamic and forward-thinking audience is really important to the brand we are building at Betr,” he said.
Expand
Matthew Tripp’s wagering group Betr is set to win the West Australian wagering licence.Betr is understood to have won over Entain Group, the owner of the Ladbrokes and Neds brands in Australia, and Tabcorp in the $1bn race for the WA TAB.
(20min delay)