SBC News Voice of the Sports Betting Industry
Australian gambling firm Tabcorp has extended its digital vision supply agreement with Sportsbet for an additional 10 years.
The extension allows Flutter Entertainment-owned Sportsbet to broadcast Sky Racing 1 and Sky Racing 2 vision live in its betting app and website, with Sky as the exclusive provider.
Adam Rytenskild, Tabcorp Managing Director and CEO, noted: “Sky is the home of Racing, with more racing punter eyeballs than any other channel and is the major driver of Racing wagering in Australia.
“With more than 150,000 races broadcast live around the world every year and the best team in Racing, the extension of this agreement recognises Sky as one of the best and most valuable racing networks in the world.
“It’s also great news for Racing Clubs who will have more eyes on their meetings than ever before.”
The terms of the extended agreement are broadly similar to the existing arrangements including a link to Sportsbet turnover.
The group has outlined that it expects the agreement to generate between $30m-$40m EBITDA in FY24.
“The agreement extends our most significant digital rights revenue stream to 2036. Tabcorp is continuing to build momentum towards TAB25 with a new app, new products and faster speed to market as part of our transformation,” Rytenskild concluded.
