Businessmen... were not born chief executives. They were often people first.
Richard Jefferson
21st November 2017  
 
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The Story

The merger of rivals Tabcorp and Tatts Group has been approved again by the Australian Competition Tribunal (ACT) just months after the Australian Federal Court struck it down.

 

Why is the merger on the table again?

The ACT said that the merger between Tabcorp and Tatts Group was unlikely to result in substantial public detriments, which was the argument raised by critics like rival betting company CrownBet and competition watchdog Australian Competition and Consumer Commission (ACCC).

 

Tabcorp and Tatts are dancing for joy.

Both Tabcorp and Tatts hailed the ACT’s decision but a CrownBet spokesman said that it will review the ACT’s latest decision before considering its options.

 

So what's next?

With ACT’s approval, Tabcorp and Tatts now only need two things: an approval from the Supreme Court of Victoria, and a vote for the affirming the merger from Tatts Group shareholders.

 

But there's a catch.

Considering that the Supreme Court hearing will be held on December 4, the window for appeal, and the Tatts Group’s shareholders meeting, observers said that the merger will be delayed into next year.

 

Takeaway

If things go the way as planned, Tatts and Tabcorp will be starting 2018 on a high note through the merger.

 
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Combination Way Ticket - In keno, a ticket in which groups of numbers are bet several different ways, allowing the player to spread money over more combinations. 

 
 
 
 
 
 
 

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We would like to wish FanDuel co-founder Nigel Eccles as he steps down from his post as the company’s CEO. Eccles said that he will “focus on his next venture.” FanDuel’s former chief financial officer, Matt King, has returned and stepped in as Eccles’ successor effective immediately.

 
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