Australian gaming giant Tabcorp and News UK are joining forces to launch a new online wagering and gaming business in the UK and Irish markets, known as Sun Bets.
Launching in 2016, the new business venture is designed to bring together Tabcorp’s experience in global wagering and News UK’s extensive customer base and media assets, including The Sun newspaper and associated sports and racing products.
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 CEO David Attenborough said: “Entering the UK market in partnership with News is an exciting opportunity for Tabcorp as we take our capability into the AU$7bn UK online gambling market. The Sun has more than 10 million readers per week and over one 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.”
Tabcorp manages several leading customer brands in Australia, including TAB.com.au, Luxbet, Sky Racing, Sky Sports Radio, Tabcorp Gaming Solutions (TGS), and Keno, serving millions of customers every year.
