Betting and Gambling (and remember, Please Gamble Responsibly)


#1

[Wasn’t sure which tread was appropriate]

Just comfirmed:

TAB Corp to acquire Tatts Group, making an $11+ billion company. Deal to be done by mid-2017:

Last attemped in 2006 but blocked by ACCC.

Both companies are currently on a trading halt with the ASX.

Board & executives to remain from TAB Corp.

HQ to remain in Melbourne.

Executives & staff in Queensland at Tatts Group, will be offered moves/other positions. Tatts Group board to be dissolved, except chairman Harry Boon will become a non-executive director on the TAB Corp board.

Bit of a shock, media were saying both companies were trying to be ‘fair’ (with board/executives, a potential joint-HQ & executive team with minimal job losses/moves) but that appears to have fallen through :open_mouth:


Supermarkets and Retail
#2

Will we see a Sky Racing / RadioTAB merger?


#3

Who knows?

But after the transaction is complete, original Tatts Group Ltd investets will own over 50% of the newly merged company.

It’s be even more of a giant!

Wonder how many staff will lose their jobs over this? You can bet that TABCorp aren’t going to sack any of their own staff & they’re obviously not going to ‘double up’ on positions?


#4

Didn’t Tatts Group move its HQ from Melbourne to Brisbane not so long ago? The merger means it will be back in Melbourne.


#5

Well, yes & no (bare with me…) :+1:

TABCorp (who are leading the transaction/acquiring) are headquartered in Melbourne anyway & that’s the board/executives they’re sticking with.

Tatts Group (formed in 2006, when UniTAB acquired Tatts from Melbourne, yes) are headquartered in Brisbane. The board, executives and that head office are all being dissolved.

But I was wondering how many other staff in Brisbane will lose their jobs or have to move to Melbourne? Tatts CEO says he’s “guttered” he will no longer be leading.

Mid-2017 (if approved by the ACCC) is the expected finalisation date.


#6

Is someone in Brisbane able to tell us how far along construction of the Tatts Group national headquarters is in Newstead? I wonder what happens to that development now?

It has consistently annoyed me that Lotto draws have been conducted on Queensland time since Tatts took over NSW Lotteries and moved operations to Brissie. The daylight saving hold out state shouldn’t be keeping the rest of us waiting that extra hour when we’ve had a bad day and we’re living in hope that we don’t have to go to work tomorrow.


#7

Moderating a media forum just doesn’t help ends meet :sleepy:


#8

It doesn’t even cover the cost of the alcohol required!


#9

Sleeping in the gutter? :stuck_out_tongue_winking_eye:


#10

Oh, I didn’t realise Tatts were constructing a new head office.

There is the possibility TABCorp might just let construction continue & move up there? Highly doubtful.

Companies are usually always patriotic to their original city/town.

Although can you really seeing all their board / executives / key staff moving from Melbourne to QLD, just for a new building?


#11

Certainly not from Melbourne.


#12

why would anyone want to leave Melbourne.


#13

Not as long as it’s the home of Masterchef!


#14

Tabcorp are moving mid next year to a new office complex in Docklands.


#15

Well this merger will certainly be interesting then…

No doubt the new TABCorp will create new divisions & departments.

Many TABCorp & TAB executives / staff already live in Sydney (for example) anyway.

So there no reason why many staff couldn’t work out of this new building in QLD?


#16

I’ve just read an article that indicates Tatts Group signed a long term lease earlier this year for space in a new Brisbane office tower. Tatts Group sold off the Newstead site a couple of months ago. I was unaware the development didn’t go ahead.

http://www.couriermail.com.au/business/tatts-group-commits-to-10-levels-in-daishos-180-brisbane-office-tower-shelving-plans-to-build-headquarters-at-gasworks-precinct/news-story/91c615d141922612d20b51dca6ffd617


#17

Oh okay, so all those clothing and electronic companies were actually founded in China…

And btw “usually always” is not a thing.


#18

I have hardly never heard that. :stuck_out_tongue_winking_eye:


#19

Update on the TABCorp takeover…

Courier Mail reporting that HQ to remain in Melbourne, despite previously saying during the week “no decision has been made”, leading to job losses at current Tatts Group in QLD:

http://www.couriermail.com.au/business/tabcorp-email-says-hq-to-be-in-melbourne-after-tatts-buyout/news-story/84bec3ac6b0b2b3237988afca3a91041


#20

TABCorp revenue from today’s Melbourne Cup:

$141.5m, with $94.5m from the race alone from TAB in VIC / NSW.

Over $50m was from NSW TAB.

Such a gigantic figure, they’re filthy rich & relentless :wink:

Did you place a bet today? (I placed 7 totalling $44.50 & won ~$90 back, so I’m happy)…