Australian Betting Brand Signs Deal with North American Technology Specialists
Leading Australian betting operator Tabcorp has signed a deal with North American technology company 1/ST CONTENT to widen the scope of its horse racing coverage.
The multi-year agreement will give Tabcorp access to 1/ST CONTENT’s extensive portfolio of racing content which will be used to generate traffic on the top betting apps in Australia.
The North American firm covers around 3,300 meetings annually from more than 70 racetracks including Belmont Park, Gulfstream Park, Keeneland and Saratoga. 1/ST CONTENT also has the rights to the Breeders’ Cup World Championships – an event which is now firmly established as one of the most important meetings in the international racing calendar.
The new partnership will ensure Tabcorp can provide punters with racing content throughout the day, thus boosting engagement with the Sport of Kings. “Tabcorp prides itself on expanding its variety of premium international racing content and this wide-ranging deal with 1/ST CONTENT underscores that commitment,” said Adam Brownlee, the General Manager at SKY Racing and International Media.
“The strength of their data and wagering technology, combined with a depth of broadcast and video streaming rights, makes them the clear provider of choice to facilitate both fixed-odds and commingling into Australian pools, which will help drive growth and diversified revenues for the racing sector.”
The deal will strengthen Tabcorp’s position as the leading betting brand in Australia, particularly with regards to its online offering. The firm set a target of achieving 30% digital revenue market share by 2025 to ensure it capitalises on the ongoing shift away from land-based wagering outlets. The company has also targeted a reduction in operating costs to $600-620 million to ensure it can deliver event stronger results for shareholders.
TAB is Australia’s biggest multichannel betting brand, covering retail and digital across Victoria, Queensland, New South Wales, Tasmania, South Australia, Northern Territory and the Australian Capital Territory. The company’s roots can be traced back to 1961, when the Victorian TAB was established following the legalisation of off-course betting. Other regional TAB services followed, but things really took off during the 1990s.
Tabcorp listed on the Australian Stock Exchange in 1994, before embarking on a significant acquisition project over the next few years. The firm has gone from strength to strength since then, riding the wave of positivity in the betting industry generated by numerous technological innovations.
The firm delisted its Lotteries and Keno business into a new corporation in 2022, leaving the wagering, media and gaming services businesses to operate separately under the Tabcorp banner. The deal with 1/ST CONTENT will allow Tabcorp to leverage the firm’s expertise in North American racing to provide a better all-round service for Australian punters.
Owned by the Stronach Group, a world-class technology, entertainment and real estate development company, 1/ST incorporates several elements including 1/ST CONTENT, 1/ST RACING & GAMING, 1/ST, 1/ST TECHNOLOGY and 1/ST EXPERIENCE. The Stronach Group serves as the overall investment manager for the business by providing treasury, accounting, tax, legal and other key corporate functions to them.
Simon Fraser, Senior Vice President International at 1/ST CONTENT, says the link-up with Tabcorp will broaden the appeal of North American racing and offer Australian punters more diversity for their daily wagering activities.
“It’s another key string to our bow in returning value to the genuine stakeholders in North American racing, ensuring they become the principal beneficiaries of revenues generated through international wagering, and safeguarding the domestic scene for the next generation of fans and bettors,” Fraser said.
“Tabcorp naturally represents an incredibly strong partner for us in the Australian market, so it’s a real validation to benefit from their support, scope and local expertise. Their distributional spread across digital and retail is staggering, while their development of products is enhancing our offering significantly.”
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