Gambling takeovers, floats, demergers and start up

April 29, 2022

This list tracks gambling floats, demergers, start-up and takeovers in Australia since it all began with Jeff Kennett's Tabcorp float in August 1994.

Early 1994: Crown Casino floats on the ASX after winning the licence to run Victoria's monopoly casino from the Kennett government.

August 1994: Kennett Government floats Tabcorp at $6.25 a share, the bottom of the range. This included a 50% slice of Victoria's pokies and the monopoly wagering licence.

June 1998: NSW Government floats TAB Ltd, after buying control from Sky Channel from the Murdoch and Packer interests, raising a net $889 million at an institutional float price of $2.10. See audit report.

October 1999: Tabcorp completes $1.6 billion takeover of the Sydney Casino at a time when its shares were trading at around $10.

November 1999: Queensland Labor government floats its TAB monopoly at $2.10 for institutions ($2 for retail), raising $270 million. Later changes name to Unitab.

May 2003: Tabcorp completes all scrip takeover of Queensland-based casino company Jupiters at a time when its shares were at $11.28.

November 2003: Foster's floats its 131 pubs as ALH with the final offer price for institutions being $2.40.

April 2004: PBL bids $700m to take control of Perth's Burswood Casino.

June 2004: Tabcorp completes $2.2 billion takeover of Tab Ltd, valuing the business a $4.81, at a time when its own share were around $13.50. The nominal valuation was $2.2 billion.

November 2004: Woolworths and Bruce Mathieson jointly take over ALH after out-bidding Coles and paying $3.76 a share or $1.32 billion.

June 2005: Tatts Group floats at $2.90, raising $290 million in equity from the public.

October 2006: Unitab (the old QLD TAB) and Tattersall's complete an all scrip merger of equals.

June 2011: Tabcorp demerges its casino business as Echo Entertainment.

December 2017: Tabcorp completes takeover of Tatts Group, paying 0.8 a share plus 26.5c in cash.

May 2022: Tabcorp demerges lotteries division.