• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 3 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Tabcorp AU$371 million better off after completing institutional component of entitlement offer

Ben Blaschke by Ben Blaschke
Mon 24 Aug 2020 at 13:05
Tabcorp cleared as Australian Federal Police close investigation into Cambodia sports betting bribery claims
54
SHARES
1.3k
VIEWS
Print Friendly, PDF & Email

Australian racing and wagering company Tabcorp says it has completed the institutional component of its AU$600 million entitlement offer, raising AU$371 million so far on a 97% take-up.

The offer, which Tabcorp said last week would allow it to pay off bank debt while strengthening the company’s balance sheet amidst COVID-19, allows for eligible shareholders to subscribe for one new Tabcorp ordinary share for every existing share held at a price of AU$3.25 per share.

A Monday filing revealed that the institutional offer had closed last Thursday with 97% take-up – the shortfall of which was completed via a bookbuild on Friday, clearing at a price of AU$3.70 per share.

Tabcorp will now launch the retail component of its entitlement offer this Friday 28 August, providing the same opportunity for retail shareholders to acquire one new Tabcorp ordinary share for every existing share held at AU$3.25 per share. The retail component is expected to raise another AU$229 million.

“We thank our institutional shareholders for their participation in the entitlement offer which attracted approximately 97% take-up,” said Tabcorp Chairman Paula Dwyer.

“Those institutional shareholders who did not take-up their entitlements will receive $0.45 for each right not taken up as a result of the shortfall bookbuild, which cleared at a price above TERP [Theoretical ex-rights price].

“The renounceable entitlement offer structure chosen by the Board also provides Tabcorp’s retail shareholders with the opportunity to participate in the retail entitlement offer on a pro rata basis, or potentially realize some value for their entitlements if they don’t take-up their rights.

“Following the completion of the entitlement offer Tabcorp is expected to have a stronger balance sheet and greater financial flexibility in the current uncertain times.”

RelatedPosts

Survey on Australia-China relations finds most Australians keen to encourage more Chinese tourism

Regulating the Game launches Call for Speakers for 2026 event in Sydney

Mon 2 Jun 2025 at 13:24
Queensland regulator looking into Townsville, Cairns casinos over unlicensed junket links: report

Australia’s financial crime watchdog sets sights on regional casinos The Ville and Mindil Beach

Sun 1 Jun 2025 at 09:33
Ainsworth flags 1H25 revenue growth on Australian market strength but Novomatic takeover facing opposition by family of founder

Ainsworth chair says higher R&D investment necessary to boost global market competitiveness

Thu 29 May 2025 at 05:49
A moral defense of gambling

A moral defense of gambling

Wed 28 May 2025 at 18:19
Load More
Tags: Australiapaula dwyerracingTabcorpwagering
Share22Share4
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Sega Sammy chairman Hajime Satomi named in Japan’s Top 50 rich list

by Newsdesk
Tue 3 Jun 2025 at 12:04

Hajime Satomi, the chairman of leading Japanese pachinko supplier and integrated resort investor Sega Sammy Holdings, has been named among Japan’s 50 richest people in 2025 by business media group Forbes. Satomi is ranked at No.41 on this year’s list...

Always in season for bold escapes at Hann Resorts

Always in season for bold escapes at Hann Resorts

by Newsdesk
Tue 3 Jun 2025 at 10:09

CLIENT PROMOTION Hann Resorts in Clark encourages guests to disconnect from their digital gadgets and rediscover the benefits of offline experiences with family and friends up north at Clark, Pampanga. “Travel, Stay, Play.” Guests from Visayas, Mindanao and other countries...

Thai Government announces Entertainment Complex Press Briefing for Wednesday, local media buzzing with anticipation

Thai Government announces Entertainment Complex Press Briefing for Wednesday, local media buzzing with anticipation

by Andrew W Scott and Ben Blaschke
Tue 3 Jun 2025 at 06:34

Late yesterday afternoon the Thai government announced a Press Briefing would be held on the eve of the Thai Entertainment Complex Roundtable (TECR), which is being organized by Inside Asian Gaming. The Press Briefing, to be held at the Ministry...

Jeju Dream Tower casino sales down 7.4% in March

Korea’s Jeju Dream Tower continues growth spurt as May gaming revenues hit US$30 million

by Newsdesk
Mon 2 Jun 2025 at 18:56

Lotte Tour’s Korean integrated resort, Jeju Dream Tower, appears to be on a roll with casino revenues surging yet again in May to KRW41.4 billion (US$30.1 million) – up 52.5% year-on-year and 25.8% higher than in April. Casino revenues have...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English