A2 Milk – Call Options Jump 200%

The New Zealand Overseas Investment Office (OIO) has given approval to A2Milk’s plan to buy 75% of Mataura Valley Milk.

Full-year 2021 sales are expected to be between $NZ1.2 billion to $NZ1.25 billion and EBITDA margins will fall from 30% to 12%.

We’ve closed out the August $6.00 strike calls at $0.92 after purchasing them in early June at $0.30.

Tabcorp – Demerger

Tabcorp Holdings will demerge its lotteries and keno business. The lotteries and keno business has a low capital intensity and a track record of strong cash flows.

Wagering & Gaming Co will remain the largest gaming services provider in Australia.