Thursday 10. December, 2015

Australia’s Tabcorp Enters UK Gambling Market

Australian gambling giant, Tabcorp, has signed its first major international deal that will see it enter the UK gambling market. Tabcorp signed a deal with Rupert Murdoch’s News Corporation, hoping to gain a share of the $7 billion online sports and horse betting market in the UK.

The online business, which will be called Sun Bets, will be linked to the The Sun newspaper. It is expected to launch in 2016 and will be promoted by News UK. The ten-year deal will see Tabcorp providing News UK with a portion of the revenue, although Tabcorp has not revealed any details regarding the cost of setting up the business, the revenue-sharing agreement or its potential market share.

“This partnership provides us with the opportunity to create a leading online bookmaker in the UK market under the Sun Bets brand over the coming years and fits with our strategy of pursuing close-to-core international opportunities,” announced David Attenborough, Chief Executive of Tabcorp.

The Sun’s “Dream Team” Fantasy Football competition which is linked to the English Premier League already has over a million soccer fans that participate. This deal plans to build on the competition, as well as offer horse racing and sports betting opportunities.

“I have every confidence that this will be a rewarding partnership, which will see Sun Bets firmly established as a key player in the online betting business,” said Rebekah Brooks, Chief Executive of News UK.

“This deal with Tabcorp marks a pivotal moment in the digital transformation of the company, creating a world class online sports book that will engage and entertain the betting public in the inimitable style of The Sun.”

The partnership between Tabcorp and News UK is subject to licenses and regulatory approval for Tabcorp.

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