Tatts Group Draws Takeover Bids From Multiple Suitors

Categories: Betting News
Posted on: 21st December 2016 by: Adrian Sterne

British betting firms William Hill and Ladbrokes have both been reported to have indicated interest for the wagering business of Australian company Tatts Group. Tatts is at the center of a fierce A$11-billion merger battle between rival gaming company Tabcorp and Pacific Consortium, which comprises investment firms Macquarie, Kohlberg Kravis Robert (KKR), Morgan Stanley Infrastructure…

Paddy Power Facing Big Losses After Donald Trump Win

Categories: Betting News
Posted on: 10th November 2016 by: Adrian Sterne

Paddy Power has yet again found itself betting on the wrong horse. With Donald Trump set to become the 45th president of United States, the betting giant is looking at a loss of over £3 million (US$ 3.33 million). The bookmaker had forecasted that the Democratic candidate Hillary Clinton would become the next President of…

Majority Of Pollers In Favour Of Legalizing Sports Betting In The USA

Categories: Betting News
Posted on: 4th November 2016 by: Adrian Sterne

Sports betting is legalized only in Nevada, Delaware, Montana and Oregon as all other states have banned it according to the Professional and Amateur Sports Protection Act of 1992 (PASPA). The Fairleigh Dickinson University PublicMind poll was released on Nov 2nd and revealed that the majority of those surveyed were in favor of legalizing sports…

Australian Betting Companies Tabcorp And Tatts To Merge

Categories: Betting News
Posted on: 20th October 2016 by: Adrian Sterne

Two Australian betting companies Tabcorp Holdings Ltd. and Tatts Group Ltd have agreed to a merger of equals wherein Tabcorp will be acquiring Tatts for A$6.4 billion ($4.9 billion). The merger will create a pan-Australian betting company that will be able to handle increasing competition from international operators like Ladbrokes and the Bet365 Group. Tatts…

NSW Premier Mike Baird Does A U-Turn On Greyhound Racing Ban

Categories: Betting News
Posted on: 12th October 2016 by: Adrian Sterne

New South Wales Premier Mike Baird announced on October 12 that he is dropping the ban on greyhound racing. The Baird government had promised to put an end to the popular greyhound racing industry in the state after reports showed that animal cruelty was high in the industry. Baird had made it clear when he…

Former NBA commissioner Wants Sports Betting To Be Legalized

Categories: Betting News
Posted on: 5th October 2016 by: Adrian Sterne

Former NBA commissioner David Stern has reiterated his support for the legalization of sports betting saying that the argument that gaming is bad is an outdated concept. He stated that it was now widely accepted within the sports industry that a properly regulated gaming industry is protective of sports. Stern has recommended that the federal…

Pari-Mutuel- Based Model In Sports Betting Draws Interest In Pennsylvania

Categories: Betting News
Posted on: 7th September 2016 by: Adrian Sterne

The launch of a new form of betting on football games has evoked interest of lawmakers in Pennsylvania and could possibly be introduced within the state’s casinos if approved. A Las Vegas-based company called USFantasy Sports has launched a novel model for betting on NFL players in the state, moving away from the currently prevalent…

Rank Group And 888 Holdings Withdraw Bid To Buy William Hill

Categories: Betting News
Posted on: 22nd August 2016 by: Adrian Sterne

Rank Group and 888 Holdings have given up their plan to acquire the UK’s largest bookmaker in William Hill Plc after making two attempts to purchase the company. Both bids were rejected by William Hill citing that they undervalued the company. Last month, Rank Group which owns extensive offline gaming properties and 888 Holdings, operator…

William Hill Rejects Buyout Offer From 888 Holdings and Rank Group

Categories: Betting News
Posted on: 11th August 2016 by: Adrian Sterne

Britain’s largest bookmaker William Hill Plc recently announced that it has rejected a buyout bid from 888 Holdings and Rank Group saying that the proposal undervalued the company. The 3.2 billion-pound ($4.2 billion) cash-and- stock offer was made last week. The bid offered 364 pence a share out of which 45 percent would be in…

India’s Supreme Court Accepts Proposal For Legalizing Sports Betting

Categories: Betting News
Posted on: 27th July 2016 by: Adrian Sterne

The Board of Control for Cricket in India (BCCI), the sports authority that manages cricket in India is facing the prospect of extensive changes in its functioning after the Supreme Court of India accepted the recommendations of the Lodha committee. This ruling has also opened the door for the possible legalization of sports betting within…