Tabcorp has revealed a third suitor for its wagering and Sky racing business – BetMakers Technology Group pitching a $4 billion offer.
BetMakers on Friday said its offer included $1 billion cash and $3 billion in BetMakers shares.
The wagering businesses includes the popular TAB punting venues across much of Australia.
The Sky racing services include TV and radio coverage which is broadcast across the world.
Chief executive Todd Buckingham said the group’s technology expertise could help the wagering and media assets gain more global exposure.
Last month UK-based Entain, which owns Ladbrokes and Foxy Bingo, improved its offer for the assets to $3.5 billion.
Investment group Apollo Management in May also raised its offer to $3.5 billion.
Apollo has proposed a second possibility of including Tabcorp’s gaming services, called Max, in its purchase.
Apollo would pay $4 billion for the three businesses.
The Tabcorp board is still considering its options. These include a demerger of either the wagering and media business, or the lotteries and parlay bola Keno business.
Shares in Tabcorp were higher by 1.88 per cent to $5.15 at 1147 AEST.
Shares in BetMakers were down by 12.5 per cent to $1.40.