May 7, 2021
American private equity behemoth Apollo Global Management Incorporated has reportedly joined the race to buy the wagering and media business of Australian bookmaker Tabcorp Holdings Limited after lodging an official bid worth in the region of $3.1 billion.
According to a Thursday report from The Sydney Morning Herald newspaper, the all-cash move comes a little over a week after British land-based and online sportsbook operator Entain made an improved $2.7 billion offer of its own for the same segments of the Melbourne-headquartered firm. This proposition is currently being considered and may well purportedly soon be followed by a second rival tender from American media conglomerate Fox Corporation in partnership with local iGaming pioneer Matthew Tripp.