Talk is once again mounting that Matthew Tripp is moving closer...

Talk is once again mounting that Matthew Tripp is moving closer to lobbing a formal offer for Tabcorp.

There is further talk in the market about a proposed merger between Tabcorp and Betmakers mooted by Mr Tripp.

Mr Tripp owns a sizaeble stake in Betmakers, with about 92 million shares including his performance rights.

A merger deal could see his entire interest in the company worth about $192m based on Friday’s closing share price for Betmakers of $1.50.

Suggestions are that the former Sportsbet and EasyBet boss has been carrying out soft soundings to the market about a nil premium merger since The Australian broke the news in March.

It comes after Ladbrokes owner Entain made a $3.5bn proposal to buy Tabcorp’s Wagering and Media unit for $3.5bn and Apollo Global Management put forward a $4bn offer for all of the company excluding the lucrative lotteries arm.

Tabcorp’s board is currently carrying out a strategic review with help from adviser UBS, and the outcome is expected to become known around the end of June.

One option on the table is a demerger of the Wagering and Media unit.

Parties are circling Tabcorp after discontent has been building amongst shareholders over the company’s performance since Tabcorp led an $11bn merger with Tatts in 2017.

Before the merger, the so-called ‘Pacific Consortium’ including Kohlberg Kravis Roberts, Macquarie Group, Aware Super and Morgan Stanley Infrastructure Partners made a $6bn bid for Tatts.