The American media group Fox Corporation is currently working with some investors on a potential share offer for Australian operator Tabcorp’s business, as reported in The Sydney Morning Herald.
Fox Corporation, which belongs to the Murdoch family, is said to be interested in an agreement by Tabcorp’s gambling and media divisions, with bookmaker Matthew Tripp allegedly involved in the transaction.
Tripp entered the market again last month with a personal investment of $ 19 million in betting software and the data company BetMakers. Racing New South Wales President Peter V’landys is another who could be linked to the negotiations.
No official approach by Fox Corporation has been made for the Australian operator, with Tabcorp currently considering at least two other proposals from the American company Apollo and the owner of Ladbrokes, Entain.
Tabcorp has not confirmed whether it will proceed to a formal sale process, amid pressure from major investors to dispose of its underperforming betting sector.
Los Angeles-based Fox Corporation is currently run by Lachlan Murdoch, with the company recently signaling its intention to enter the Australian betting industry after registering a trademark for its Australian betting business.
Murdoch has already been very successful with investments in the United States betting market and is now evaluating potential partnerships with Australian companies in the sector.
Tabcorp Holdings Limited is Australia’s largest betting and gaming company, employing more than 5,000 people. In addition, the group is the largest provider of lotteries, Keno, betting and gaming products and services in the country.
Keno alone operates at more than 3600 points of sale across Australia. And Tabcorp is also listed on the Australian Securities Exchange.