Tabcorp and News UK partner to launch new online business in the UK
Tabcorp Holdings Limited and News UK have today announced the signing of an agreement to partner in the launch of a new online wagering and gaming business in the UK and Irish markets. The business will be known as Sun Bets and will launch in 2016.
The new business will bring together Tabcorp’s capability in global wagering with News UK’s vast customer base and market-leading media assets, including The Sun newspaper (print and digital properties) and associated sports and racing products (such as Dream Team FC, Favourite and Goals).
The agreement is structured as a revenue share arrangement with News UK undertaking internal and external media promotion of the business. In return, Tabcorp will provide News UK with a share of the revenue from the new business each year.
The agreement is subject to Tabcorp obtaining the necessary licences and regulatory approvals and runs for an initial term of 10 years, with extensions subject to performance.
Tabcorp Managing Director and Chief Executive Officer David Attenborough said: “Entering the UK market in partnership with News is an exciting opportunity for Tabcorp as we take our capability into the A$7 billion UK online gambling market. The Sun has more than 10 million readers per week and over 1 million football fans actively engaged through The Sun Dream Team FC fantasy football competition.
“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.”
Rebekah Brooks, CEO, News UK said: “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 two powerful brands of The Sun and our Dream Team fantasy football competition already have incredible reach and 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.”
Tabcorp is a leading Australian gambling entertainment company and a top 100 public company listed on the Australian Securities Exchange. Tabcorp is one of the world’s largest publicly listed gambling companies and one of the largest wagering operators by revenue.
Tabcorp is diversified across three businesses: Wagering and Media, Gaming Services and Keno. The company operates leading customer brands such as Keno, tab.com.au, Luxbet, Sky Racing, Sky Sports Radio and Tabcorp Gaming Solutions.
Tabcorp is committed to the responsible delivery of its gambling products. Tabcorp has been named the global gambling industry leader in the annual assessment for the Dow Jones Sustainability Index in 10 out of the last 11 years. In the most recent assessment, Tabcorp once again received a 100% score in ‘Promoting Responsible Gaming’.
Tabcorp employs more than 3,000 people. In November 2015, the company was recognised by the Australian Government’s Workplace Gender Equality Agency as an ‘Employer of Choice for Gender Equality’, the only company in the gambling entertainment industry to make the list.
About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and cable network programming and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: http://www.newscorp.com
About News UK
News UK is home to some of the biggest and most popular British newspapers. The Times and The Sunday Times are the world’s best-known quality newspapers, and The Sun remains the most read British newspaper with more than seven million readers each day.
While our papers have individual identities that reflect their different heritage, all look to break the most important stories, inform our readers, champion them and the causes closest to their hearts, and help them make sense of the modern world.
Our titles have a weekly print reach of approximately 10 million readers, and represent around 32.5% of UK circulation of national dailies. Employing more than 5,000 in operations spanning journalism, printing, distribution and back-office support across the UK, the direct and indirect contributions made by News UK businesses to UK GDP are considerable.
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