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Tabcorp invests in unique, digital wagering platform
Addisons has advised in a deal which involved a multimillion-dollar investment by Tabcorp in a fast-growing wagering platform.
Emma Musgrave
Firm: Addisons (Dabble); Undisclosed (Tabcorp).
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Deal: Dabble has been advised on its capital raising and shareholder sale facility, which included an investment by Tabcorp in Dabble.
Value: $33 million.
Area: Corporate.
Key players: The Addisons team was led by corporate partner, Daniel Goldberg, and solicitor, Patricia Lai, as well as partner Jamie Nettleton and senior associate Shanna Protic Dib of the gambling law group.
Deal significance: Dabble is described as one of Australia’s fastest-growing wagering platforms that focuses on providing a socialised betting experience.
Tabcorp’s investment will provide significant expansion and scale opportunities for Dabble to enhance its interactive and innovative socialised wagering platform, a statement from Addisons explained.
Addisons’ gambling law partner, Jamie Nettleton, said that the transaction will see Dabble continue its strong growth trajectory.
“Addisons is delighted to have supported Dabble on this transaction, which recognises its pre-eminence as a licensed, innovative, digitally focused bookmaker,” Mr Nettleton said.
“This continues our partnership with Dabble which has been ongoing since pre-launch, to launching as an online Northern Territory licensed bookmaker and culminating in this transaction.
“We look forward to Dabble’s continuing success.”
