Australian lottery and betting operator Tabcorp Holdings has confirmed that multiple parties are interested in buying its wagering division, with UK gambling giant Entain plc confirming it’s among the suitors.

On Tuesday, Tabcorp issued a statement in response to local media reports which claimed the company had been approached about a possible acquisition of its Wagering & Media unit, which controls nearly 44% of the local sports and racing market. Tabcorp confirmed receiving “a number of unsolicited approaches and proposals in relation to a potential transaction.” 

Tabcorp noted that said pitches “were expressed to be confidential, indicative, non-binding and subject to numerous conditions.” Tabcorp’s board is assessing these proposals and will update the market as needed, while adding the usual caveat that there was no certainty that there would prove to be any fire behind this smoke. 

Entain subsequently issued its own statement confirming that the company had made “a non-binding indicative offer” for Tabcorp’s betting division. Entain already has a small down under presence via its Ladbrokes Australia and Ned brands and noted that adding Tabcorp’s betting unit “would create a leading, integrated multi-channel and multi-brand wagering company.”