How did these three betting stocks fare in May - TAH, CWN, PBH?


  • On a global scale, over 25% of the population is into gambling. In Australia, one-third of the adult population engages in gambling.
  • Tabcorp Holdings received a proposal from BetMakers to acquire its Wagering and Media business.
  • Crown Resorts brought changes to Crown Melbourne’s business operations. It received a merger proposal from The Star Entertainment Group & an acquisition proposal from Blackstone.
  • PointsBet’s subsidiary signed a binding deal to purchase Premier Turf Club.

The gambling industry was one of the hardest-hit areas during the COVID-19 pandemic. Due to COVID-19, land-based gambling venues were provisionally closed, and key national and international sporting codes were suspended The government also imposed several restrictions to curb the virus spread.

Australia is a nation with a deep history with many distinct sports. Experts believe that the global gaming industry is around US$400 billion, and a big portion of it comes from Australia’s gaming sector. Worldwide, over 25% of the total population gambles. In Australia, around 33% of the grown-up population are into gambling.

Source: Cafebeanzphoto |

Popular ASX-listed players from this industry include Tabcorp Holdings (ASX:TAH), Crown Resorts (ASX:CWN), The Star Entertainment Group (ASX:SGR), SkyCity Entertainment Group (ASX:SKC), PointsBet Holdings (ASX:PBH), BetMakers Technology Group (ASX:BET), and Jumbo Interactive (ASX:JIN).

This article will look at the developments of three companies in the betting space in May - TAH, CWN, PBH.

Tabcorp Holdings Limited

Tabcorp Holdings Limited, a gaming and entertainment services provider, announced that it received an unsolicited, non-binding and indicative proposal from BetMakers Technology Group Ltd to acquire TAH’s Wagering and Media business.

BetMakers highlighted that the value of its proposal was A$4.0 billion. It includes a cash consideration of AU$1.0 billion along with new shares in BetMakers worth AU$3 billion. The number of shares proposed by BetMakers would be fixed when any possible transaction is agreed between the parties. It would be fixed at a 15% premium to the BET share price at that specific time.

The proposal would depend on several conditions like due diligence, planning financing, receipt of all related regulatory consents, and several third-party approvals and consents.

DO READ: Why BetMakers’ (ASX:BET) shares could be in focus today

Crown Resorts Limited

Crown Resorts Limited, one of Australia’s largest entertainment business, was in the limelight this month for two reasons. The recent is the changes to Crown Melbourne’s business operations. Following the announcement of the Victorian Government related to the 7-day lockdown, the Company on 27 May 2021 announced that from 27 May 2021 till 11:59 pm on 3 June 2021, gaming activities and food & beverage, retail, banqueting and conference facilities would be ceased. However, takeaway meals or meal delivery services would remain operational. Hotel accommodation would be provided for approved purposes.

The second reason for the business to come to the spotlight was The Star Entertainment Group Limited merger proposal. It also received an acquisition offer from The Blackstone Group Inc. and its associates to acquire overall shares in Crown via a scheme of arrangement at AU$12.35 cash per share.

Do Watch: The Buzzing Trends || Which ASX-Listed Company Completed Its Capital Raise With AU$428 Million?

INTERESTING READ: Blackstone tweaks conditions for Crown Resorts acquisition proposal

PointsBet Holdings Limited

Wagering services operator Pointsbet Holdings Limited was in the spotlight this month after announcing that its 100% owned subsidiary entered into a binding agreement to acquire an active pari-mutuel Advance Deposit Wagering operator, Premier Turf Club, LLC, for US$2.9 million.

The transaction depended on customary completion conditions and was projected to complete in May 2021.

In May 2021, the Company also announced that its subsidiary PointsBet Michigan LLC is now authorised to start iGaming operations and has launched its’ proprietary iGaming platform in that state. The Company intends to introduce iGaming in New Jersey in June 2021. iGaming revenues in the US have expanded immensely since abolishing the Professional and Amateur Sports Protection Act in May 2018. Across New Jersey, Michigan, Pennsylvania and West Virginia in the March 2021 quarter,  iGaming revenue surpassed US$770 million.

Stock Performance (as on 28 May)

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.



Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.



Rated 4.3/5 based on 904 Reviews at Google My Business
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK