Tabcorp and Tatts Merger Deal Falls Through

The Tabcorp and Tatts merger deal has fallen through over the companies’ inability to reach an agreement over the potential business merger.

In Australia gambling news, Australian gambling giants Tabcorp Holdings and Tatts Group have confirmed that their long talked about merger deal is off the table and that they will continue to exist as separate entities. This is the final outcome of months-long talks between the two companies, who would’ve created a new company worth approximately AUD 9.4 billion had the Tabcorp and Tatts merger deal come to fruition.

Tabcorp Holdings is worth AUD 3.7 billion and runs in Victoria and New South Wales, while Tatts is worth AUD 5.7 billion and runs in Queensland, South Australia, and the Northern Territory.

Failure of Tabcorp and Tatts merger deal confirmed by both companies

Both of the online gambling sites in Australia have confirmed in separate statements that they were unable to come to an agreement with one another over the Tabcorp and Tatts merger deal.

Tabcorp’s statement said that: “Tabcorp confirms that while confidential discussions have taken place regarding a potential merger, the companies were unable to agree mutually acceptable terms and those discussions have ended. There are no further discussions taking place between the parties elating to a merger or any other form of corporate transaction.”

Tatts confirmed also, stating: “There are no further discussions taking place between the parties relating to a nil-premium merger of equals or any other form of corporate transaction with Tabcorp.”