Addisons is pleased to have advised Dabble on its capital raising and shareholder sale facility, which included a $33 million investment by Tabcorp in Dabble.
Completed on 14 October 2022, the transaction resulted in Tabcorp acquiring a fully-diluted shareholding of 20% in Dabble.
Dabble is 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.
Tom Rundle, CEO of Dabble, said that the investment will play a critical role in the delivery of Dabble’s unique offering to its young and engaged customer base.
The Addisons team was led by Partner Daniel Goldberg and Solicitor Patricia Lai of the Corporate Group, as well as Partner Jamie Nettleton and Senior Associate Shanna Protic Dib of the Gambling Law Group.
Jamie Nettleton, Addisons’ Gambling Law Partner, commented: “Addisons is delighted to have supported Dabble on this transaction, which recognises its pre-eminence as a licensed innovative digitally focused bookmaker. 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.”