Reports: Fox Corporation weighing up Tabcorp wagering division bid
Sydney Morning Herald claims international media giant is circling after registering Fox Bet trademark in Australia
Fox Corporation is looking to enter the race for Tabcorp’s highly-coveted wagering and media division, according to the Sydney Morning Herald.
The newspaper claims the Fox Bet operator is working with Australian investors on a potential bid, based on its success to date in the US market. Fox Bet is joint owned by Flutter Entertainment.
Fox Corp CEO Lachlan Murdoch is reportedly working with a US-based investment fund on a potential bid, with Australian investor Matt Tripp rumoured to be involved in the deal.
In a recent interview with EGR, Tripp denied being involved in a bid for the division.
Entain and Apollo Global Management have also made a bid for the business.
Fox has previously worked with Tabcorp on its Sun Bets joint venture in 2018, with Tabcorp later pulling the plug on its partnership following substantial losses.