BetMakers offers $4b for Tabcorp assets

Tabcorp has revealed a second suitor for its wagering and media business – BetMakers Technology Group pitching a $4 billion offer.

BetMakers on Friday said its offer included $1 billion cash and $3 billion in BetMakers shares.

Chief executive Todd Buckingham said the group’s technology expertise could help the wagering and media assets benefit from global exposure.

Last month UK-based Entain, which owns Ladbrokes and Foxy Bingo, improved its offer for the assets to $3.5 billion.

The Tabcorp board is still considering its options. These include a demerger of either the wagering and media business, or the lotteries and Keno business.

Shares in Tabcorp were higher by 1.98 per cent to $5.16 at 1121 AEST.

Shares in BetMakers were down by 10.31 per cent to $1.43.

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